Universal payment confirmations for application providers
Tracking and confirming payments in real time is fundamental in the world of modern commerce, and requires the buy-in of banks along the payment chain.
gpi member are using the Unique End-to-End Transaction Reference (UETR) to track payments across non-gpi institutions. The next step is universal payment confirmations.
Since 2020 all financial institutions receiving customer payments (MT 103 messages) need to confirm when a payment is credited to the beneficiary account. The Universal confirmation rulebook outlines in detail the requirements of universal payment confirmations. Swift has created dedicated Universal Confirmations Support Page where you can find all key resources and documentation.
Why are payment confirmations crucial?
Universal confirmation rulebook
The Universal confirmation rulebook outlines in detail the requirements of universal payment confirmations. By the end of 2020, all financial institutions receiving customer payments (MT 103 messages) will need to confirm when a payment has been credited to the beneficiary account. We recommend you start your development to support universal payment confirmations now, and offer it to customers as from Standards Release 2019.
Testing your application’s readiness
Swift offers opportunities to validate your readiness for universal payment confirmations through My Standards Readiness Portal and through dedicated test cases in the Vendor test bed. Please contact us for more information.
How to promote universal payment confirmation readiness
You can join Swift’s Self-Attestation Programme to promote through Swift communication channels when:
- your application is ready* to support universal payment confirmations
- you are ready to make it available to all your customers through the annual MT standards release maintenance support release
The Self-Attestation Programme highlights these application provider offerings to the Swift community.
* Readiness as per the business rules defined in the Universal confirmations rulebook
Please note that the self-attestation form should not be confused with the Swift certification programme. Participation in the Self-Attestation Programme does not allow use of Swift logo. Swift will make public the names of Self-Attestation Programme members on Swift.com and other channels for promotional purposes.
If you have questions or need further information, please contact us.
Self-attestation
Requirements
- Support universal payment confirmations in the 2019/2020 Standards Release
- Support through one or both of the automated channels below:
- Structured MT 199
- APIs
- Offer the support of universal payment confirmations for all business application versions currently active in customer back-offices
- Validate the application readiness for universal payment confirmations through comprehensive testing
Process
- Download the self-attestation template
- Send the completed form back to Swift at swiftforproviders@swift.com
Related content
Bringing the benefits of gpi to the entire Swift community
Swift GPI
Cross-border payments, transformed.
Already a Swift GPI application service provider?
Log into the application service provider member zone.
