- This service is available through the bank's mobile app and internet banking platforms.
- Here are some key features:
- Real-time Updates: Customers can monitor the status of their cross-border payments in real-time, knowing whether the funds are in transit or have been credited to the recipient bank.
- Enhanced Transparency: The service provides end-to-end visibility of transactions, similar to local digital payments like UPI and IMPS.
- Swift GPI Integration: The tracking service uses the SWIFT Global Payments Innovation (GPI) plugin, which ensures faster and more transparent cross-border payments.
- No Additional Charges: The real-time tracking is offered as a complimentary service with no extra processing fees.
Question:
1 What technology is IDFC FIRST Bank using to enable real-time tracking of cross-border payments?
- A) Blockchain Technology
- B) Real-Time Gross Settlement (RTGS)
- C) UPI Integration
- D) SWIFT GPI (Global Payments Innovation)