What is the iBanFirst Payment Tracker?
The Payment Tracker is iBanFirst’s latest feature, giving both our clients and their beneficiaries the possibility to track their payments in real time.
We understand how important it is for businesses to pay their suppliers on time and for beneficiaries to be able to track these funds.
With iBanFirst, you can pay suppliers in 150 countries around the world and follow the status of your payments at any time using the Payment Tracker, in the same way you can track a parcel with major delivery services.
You can also reassure your suppliers that your payment is on its way by granting them access to the Payment Tracker. All you need to do is tick the email notification option when initiating a payment.
Leveraging iBanFirst’s SWIFT GPI membership, as well as the fintech’s own payment data, the Payment Tracker offers precise and accurate information about a payment’s status, the intermediary banks routing the payment and the fees charged at every step of the way.
How does it work?
1. You initiate a payment on the iBanFirst platform and tick the box to notify your beneficiary via email.
2. Once the payment has been approved, you can access the Payment Tracker from the iBanFirst platform and follow your payment status in real time.
3. Your beneficiary receives an email notification that your payment is on its way. The email contains a link to the Payment Tracker, giving them the possibility to check on its status as well.
4. If your beneficiary signs up to iBanFirst’s services, things only get better, as transfers between your respective iBanFirst accounts become both free and instantaneous!