Countless standards, procedures and formats for payments, direct debits and receipts are currently used for Swiss payment transactions. To remove this inefficiency, the Swiss financial center is working towards gradual harmonization. Swiss payment transactions are moving closer to the SEPA procedure used across Europe which are also based on ISO 20022.

We have been involved in the international standardization process since the start, which is why we have many years of experience with ISO 20022.

The upcoming harmonization of payment transactions will impact every Swiss company. The introduction of the new, harmonized procedures will take place gradually over the coming years; although the current procedures will continue to be available during a transitional phase.