Reaching the goal in stages
The standardization and harmonization of payment transaction processing program is proceeding according to the implementation plan defined by the Swiss financial center. This is divided into three migration stages.
Standardization and harmonization of the process impacts all market participants. The phased switchover by the various stakeholders is central for a smooth and efficient migration process. This is because bank customers can only benefit from the improvement of their payment traffic if the new message types have already been prepared by the financial institutions. Therefore, coordination of the migration process in tandem with the respective financial institution and its software payment is recommended.