Trade Finance Goes Digital with the BPO, Bank Payment Obligation

Pinnacle Solutions Incorporated participated in the official launch of the URBPO Rules in Mexico City

The ICC “International Chamber of Commerce” and SWIFT offered a special session to review the rules that will be applied to the new product called “BPO” Bank Payment Obligation.

This new payment instrument is rapidly being used by the markets in Asia, India and Middle East as a preferred way to settle international trade, instead of Letters of Credit or Collections.

John Taboada from SWIFT explained how this new instrument is reducing processing time from 2 weeks (traditional L/C) to 3 days (BPO)

The major banks in Mexico attended the session discovering their need to review and implement new solutions for the BPO.

PSI continuing its commitment to providing its customers with the latest products, services and expertise attended this important session.