Harmonisation of Swiss payment transactions
Uniform standards for digital payment processing
The Initiative for the Harmonisation of Swiss Payment Transactions was set up to enable Swiss payment systems to meet the challenges of digital processing, from the invoicing party through the payer to the account-managing payment institution. The Initiative is entering its implementation phase in 2018 and 2019.
DTA files to be replaced by ISO 20022 standard
By 1 July 2018 at the latest the old DTA-based delivery formats will be replaced by the new ISO 20022 standard. ISO 20022 is an international standard that plays an important and ever-expanding role in electronic data exchange within the financial sector throughout the world but most notably in Europe. This forward-looking technology will be a crucial component in the transition to fully digitised payment transactions.
Replacement of red and orange paying-in slips
From the middle of 2019 the red and orange paying-in slips that are so familiar today will be replaced by the new QR billing. On QR invoices the main feature used to identify the bank account will be the IBAN. Encoding all the requisite information into the QR code will facilitate automated processing for both the client and the financial institutions and will reduce susceptibility to errors in comparison with today’s media disruptions.
What will change for corporate clients?
- From 1 July 2018 payment orders must be delivered via pain.001 message.
- The QR-bill launch will not occur before mid-2019.
- Transaction notifications and reporting will likewise switch to ISO 20022.