Home Business CIPS payment lens service is online!The convenience of RMB cross-border payment has been further improved – Wall Street News

CIPS payment lens service is online!The convenience of RMB cross-border payment has been further improved – Wall Street News

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CIPS payment lens service is online!The convenience of RMB cross-border payment has been further improved – Wall Street News

source: Shanghai Securities News

2022-06-26 13:24

After the payment lens service is launched, users can click “Remittance Progress Query” in the inward remittance inquiry and outbound remittance inquiry to obtain the latest payment arrival node, status, processing time and other information, effectively improving the transparency and predictability of cross-border payment. .

The convenience of RMB cross-border payment is expected to open up new horizons. On June 26, based on the CIPS standard transceiver, the cross-border clearing company launched an innovative value-added function-CIPS payment lens service to support enterprises, banks and other cross-border payment market players to check their payment status, and further enhance the cross-border RMB Payment efficiency and transparency.

It is reported that some enterprises and banks have already tried it out. From the perspective of specific uses, the CIPS payment lens service integrates big data, artificial intelligence and other financial technologies to provide global RMB users with instant, complete, full-link, one-stop payment status penetrating display services, which can meet the needs of enterprises, Cross-border payment entities such as banks need to inquire about the status of cross-border payments around the clock.

The service is aimed at users of various CIPS standard transceivers such as banks, non-bank financial institutions, and cross-border payment business-related enterprises.After the payment lens service is launched, users can click “Remittance Progress Query” in the inward remittance inquiry and outbound remittance inquiry to obtain the latest payment arrival node, status, processing time and other information, effectively improving the transparency and predictability of cross-border payment. .

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Regarding how the CIPS payment lens service will facilitate cross-border payment, the reporter learned that, on the one hand, it can provide banks, enterprises and other users with the latest processing status of cross-border payment, including information on processing institutions, processing status, handling fees, etc. market transparency.

On the other hand, it presents payment status information synchronously in a dynamic way, helping customers to keep track of the status of funds processing at any time. Both the payer and the payee can get the payment progress in real time!

In addition, it also uses the latest financial technology methods to provide the function of predicting the date of fund arrival, which is convenient for users to manage liquidity and save capital costs.

It is reported that bank users such as Bank of Communications, Bank of Communications Hong Kong Branch, Bank of Guizhou, Bank of Suzhou, Kunshan Rural Commercial Bank, and corporate users such as General Technology Finance Company, Haitong Securities, Haier Finance Company, and CALC Financial Leasing Co., Ltd. have already used the payment lens online. service, the first to experience efficient, transparent and predictable RMB cross-border payment process services.

In addition, the Agricultural Bank of China, Bank of China, China Construction Bank, China Merchants Bank, Industrial Bank, Ping An Bank, China Guangfa Bank, Bank of Jiangsu, Bank of China Hong Kong and other institutions will soon launch payment lens services.

Haier Finance Co., Ltd. said: “The payment lens has a clearer service delivery method, which can visually track the entire process of each cross-border receipt and payment business, becoming a one-stop window for customers’ payment paths, enabling efficient fund arrival, transparent fees, and remittances. accurate information delivery.”

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Kunshan Rural Commercial Bank said: “We will continue to improve and enrich the cross-border payment and settlement product system in combination with the CIPS standard transceiver payment lens service project, innovate various cross-border payment services and products, and provide Kunshan foreign trade enterprises with better quality, speed and transparency. , traceable cross-border payment services.”

Bank of Communications Hong Kong Branch said: “Through the payment lens function, customers can easily track the various status of the payment process, effectively improve the speed and transparency of cross-border RMB payment, and further optimize the customer experience of cross-border payment.”

This article comes from Shanghai Securities News, the original title is “CIPS payment lens service online! The convenience of RMB cross-border payment has been further improved”

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Market risk, the investment need to be cautious. This article does not constitute personal investment advice and does not take into account the particular investment objectives, financial situation or needs of individual users. Users should consider whether any opinions, views or conclusions contained herein are appropriate to their particular circumstances. Invest accordingly at your own risk.

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