AscendantFX joins SWIFT Network for cross-border transactions
AscendantFX, a California based cross-border payments company, has joined SWIFT Network. The company says it will be using SWIFT Global Payments Initiative (gpi) to access its API and improve its own aPay platform according to a press release.
In May, AscendantFX had launched its cross-border payments product Payee Intel to boost cross-border payments and reduce costs at the same time. SWIFT gpi provides end-to-end transparency on fees and exchange rates, the press release notes. The company also noted that it would see a reduction in the number of payment investigations and time taken to resolve them.
AscendantFX will let its clients track payments within its online platform, aPay, as well as through API solution, aPay Link.
According to SWIFT’s website, there are over 4,100 financial institutions using gpi and payments are made in over 150 currencies across 2,170 country corridors.
Commercial Payments International reached out to the company seeking clarification on aPay platform, but no reply has been forthcoming at time of publication.