Kinexys Digital Payments is a permissioned blockchain system that functions as a payment rail and deposit account ledger, allowing participating J.P. Morgan clients to transfer funds held on deposit with J.P. Morgan within the Kinexys Digital Payments.
🔹 Benefits
With Kinexys Digital Payments, you can:
– Avoid prefunding with 24/7 real-time payments: Move funds on banking holidays, fund shortfalls, working capital gaps, and other ad hoc transfers.
– Cross-border payments: Unlock working capital globally with cross-border payments and enable new business models, for example, machine-to-machine payments.
– Real-time visibility: View transactions and balances in real-time to ensure transparency and finality of payment.
– Advance payment type support: Use Delivery versus Payment (DvP), Payment versus Payment (PvP), and machine-to-machine payment types.
🔹 When to use Kinexys Digital Payments
👉 Intra-company payments
Optimize and mobilize your liquidity among connected entities by moving funds domestically or cross-border 24/7/365, including on holidays.
👉 Inter-company payments
Speed up commercial settlement and align treasury processes to the real-time nature of the industry by moving funds domestically or cross-border any day and time of the week including on holidays.
👉 Merchant acquirers and beneficiaries
Pay acquirers 24/7, and settle funds with certainty on-demand, multiple times a day and minimize need for prefunding and credit lines.
👉 Unlock idle working capital and liquidity
Efficiently leverage your existing liquidity by automatically moving funds cross-border in a “follow the sun” model to draw on liquidity as needed.
👉 USD offshore Clearing for financial institutions
Instantaneously settle and clear USD minimizing the need to prefund or use of credit lines on nostro accounts for financial institutions at J.P. Morgan.
## Event driven payments
Automated real time treasury through the use of Programmable Payments using an intuitive ‘if-this-then-that’ web interface.
👉 How to use Kinexys Digital Payments
Clients can use the Kinexys Digital Payments to settle domestic and cross-border payments. The Kinexys Digital Payments can facilitate highly efficient intra-company fund flows (moving liquidity within a group) and inter-company fund flows (transacting with counterparties) through the use of two transaction types:
– Deposit – Customers must first fund their Blockchain Deposit Account (BDA) from a linked Demand Deposit Account (DDA) owned by J.P. Morgan. A linked DDA is an authorized DDA as identified during the Blockchain Deposit Account onboarding that is allowed to fund that specific Blockchain Deposit Account.
– Payment – Customers can initiate payments from their BDA to holders of a BDA or DDA.
Source JPMorgan
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