The Swiss recommendations are summarized in the Business Rules and Implementation Guidelines.
The Swiss financial industry has released recommendations on exchanging of data between customers and banks based on the ISO 20022 definitions in the payments and Cash Management areas. A validation platform supports the consistent use of the ISO 20022 messages.
In assignment by PaCoS (Payments Committee Switzerland), a committee set up by the Swiss Payments Council (SPC), a working group elaborated the Swiss recommendations for implementation of the format standards for payments initiation based on the ISO 20022 standard. The recommendations, which are supported by all Swiss financial institutions, are based upon the basic documentation issued by the ISO and the EPC (European Payments Council) and are reflected in the two rulebooks, the “Swiss Business Rules” and the “Swiss Implementation Guidelines”.
QR code to replace the currently used inpayment slips
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.