The SWIFT Low value cross-border payment (SLVP) offering aims to enable SMEs and consumers to make fast, easy, predictable and competitively priced cross-border payments from account-to-account.
Easy to use, the service will have a simple and streamlined user experience with security ingrained at every level.
Fast payments, tighter service levels between banks will increase speed. A single payment format will increase straight through processing, while existing services such as pre-validation will remove frictions that cause delays.
Competitive prices, predictable and competitive processing fees are agreed bilaterally between financial institutions, enabling them to provide their end customers with upfront transparency on fees.
Secure, payments will be exchanged through the secure SWIFT network and cleared through best-in-class channels for international payments.
Ultimately, the SLVP service enables its users to remain competitive in high-growth market while leveraging the SWIFT network to deliver a compelling value-proposition in high growth payments markets and position yourself as a payments leader - harness the power of frictionless low-value payments as a key enabler of your innovation strategy.
With SLVP API, you can track and update SLVP transaction status.
Given a UETR (Unique End-to-end Transaction Reference), you can identify and track a single SLVP transaction using Get Payment Transaction Details API (existing GPI API v4)
Given a time range, you can identify and track multiple SLVP transactions using Get Changed Payment Transactions API (existing GPI API v4)
Given a UETR, you can update SLVP transaction status using Status Confirmation Update API (new API for SLVP)
You need to be part of the SLVP pilot in order to benefit from the SLVP functionalities and be eligible to consume the SLVP API. Find out how you can get involved by contacting your SWIFT Relationship Manager.