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Online Payments Panel

Abstract

SWIFT's e-paymentsPlus is the financial industry's solution for secure end-to-end electronic payments supporting STP and reconciliation in B2B commerce e-paymentsPlus allows corporate buyers to initiate domestic or cross-border payments from an Internet website (e.g. at the time of purchase), or directly from their ERP or cash management systems. In all cases, the underlying commercial information (e.g. purchase order, invoice, remittance advice) can be attached to the payment instruction. e-paymentsPlus stores the commercial and payment data and applies a unique identification number to the transaction.

In turn, suppliers receive online confirmation of payment initiation, optionally coupled with a bank's payment assurance. This confirmation includes the related commercial information to facilitate reconciliation of the payment with account receivables.

Keywords


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Biography

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Prior to joining Identrus, Jim was a Vice President in LabMorgan, the e-commerce unit of J.P. Morgan Chase. Jim is a former member of the Identrus Board of Managers and Chaired the Identrus Audit Committee. Mr. Parker also represented J.P. Morgan Chase on the Internet Council of the National Automated Clearinghouse Association (NACHA) and was elected to the Board of Directors of the Smart Card Alliance. Mr. Parker also held positions in strategic planning and corporate development in Chase Manhattan Bank's Private Bank and Asset Management Group. He also held various positions with Bankers Trust Company and Price Waterhouse. He has completed the CPA and CFP designations. He holds a B.S. degree in economics from The Wharton School, University of Pennsylvania and an MBA in finance from the University of Chicago Graduate School of Business.

Marc is the Business Manager, Payments Standards in the standards department at SWIFT, the Society for Worldwide Interbank Financial Telecommunication. His main responsibilities are the development of end-to-end payment transaction standards for the financial industry and support to payment market infrastructures. He leads or supports SWIFTStandards XML development initiatives in this domain (bulk payments, cash management and payment initiation standards). He is a member of various industry groups in the European Payments Council, ECBS and chairs SWIFT modelling and Business validation groups. Marc has a master in business and administration and has been spent 7 years in banks. He has been involved in standardisation initiatives in the payments area for more than 10 years. Marc joined SWIFT in 1997.