{"id":9928,"date":"2019-09-24T14:30:34","date_gmt":"2019-09-24T14:30:34","guid":{"rendered":"https:\/\/www.legitgambling.com\/news\/?p=9928"},"modified":"2019-09-24T11:21:00","modified_gmt":"2019-09-24T11:21:00","slug":"swift-merges-gpi-with-domestic-instant-payment-networks","status":"publish","type":"post","link":"https:\/\/www.legitgambling.com\/news\/swift-merges-gpi-with-domestic-instant-payment-networks\/","title":{"rendered":"SWIFT Merges GPI With Domestic Instant Payment Networks"},"content":{"rendered":"

\"\"The SWIFT network<\/strong> continues to be the best system available for cross-border payments. However, its ascendancy has been threatened in recent times by the development of cryptocurrencies<\/a> but SWIFT is fighting back. The latest move by the network to stay relevant is to launch a new service that will allow for real-time international payments. This is being done by integrating gpi and domestic payment networks into a single service.<\/p>\n

One of the main features that cryptocurrencies always tout is that they can transfer money internationally faster than normal banks. With this new integrated service, SWIFT will be able to make the same instant international payments that cryptocurrencies boast about. Senders will have to pay an additional fee but they will now be able to send their money instantly all over the world. <\/p>\n

This is a major move since it will extend the existing gpi network<\/a> into domestic markets. This will allow banks to deliver a better service with their current investment. Thanks to the approach of using the current gpi network and the domestic real-time payment networks, there are no additional implementation costs or the need to shift to a new network structure. This saves banks a lot of money in the long run and allows them to start offering this service in no time.<\/p>\n

PlanetSWIFT<\/strong><\/p>\n

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