Alibaba.com joins SWIFT gpi for Corporates
Alibaba.com, the e-commerce giant, has joined SWIFT gpi for Corporates (g4C). The internet giant is also collaborating with SWIFT, and a group of corporates, banks and treasury vendors on a new g4C payments tracking solution.
Corporates using the existing g4C Pay and Trace service receive a single centralised and standardised view of their payment statuses, across all their banking partners. They are able to track their payments in real-time, which should facilitate more accurate reconciliation and limit resource-intensive investigations.
The new service, which is expected to go live in 2020, is designed to offer e-commerce corporates more control over the management of payments and receivables. An extension to Pay and Trace, the service will provide real-time traceability of incoming payments from merchants and end-consumers.