The harmonization brochure
In short: what companies need to know about the harmonization of Swiss payments. What is changing with credit transfers, direct debits, e-bills and payment slips?
Synergies in the value creation chain will be sustainably exploited between payment service providers, financial institutions and consumers. All players involved shall profit, along with the Swiss economy as a whole. The changes are expected to be completed by 2020 at the latest.
Swiss financial institutions, their IT partners and all other parties that are driving the migration to the ISO 20022 standard are going about it systematically and with expertise. That is the conclusion by the opinion and market research institute, gfs.bern, after evaluating a public survey.
It was decided in October 2016 to revise the inpayment slip with data code planned for mid-2018.
The Board of Directors of SIX Interbank Clearing Ltd has decided to revise the inpayment slip with data code planned for mid-2018. In order to take account of the progressing digitalization, market needs and upcoming regulatory requirements, the data content of the planned QR code is being expanded. This should ensure its long-term operational sustainability.
Today’s Sibos newspaper features the new ISO 20022-compliant payment system that was launched by SIX Interbank Clearing in April 2016. The newspaper published in connection with this year’s annual gathering for international financial market service providers in Geneva.
ISO 20022 is the new international standard for electronic data exchanges in the finance industry. It is assuming an increasingly key role worldwide, in Europe and thus in Switzerland. ISO 20022 influences all domestic and international payments.