Migration Payment Traffic Switzerland
Will the ISR bank/ISR files, which now a financial institution’s customer receives for controlling incoming payments, also be replaced and if so by what?
Neither recapitulations nor gateways are addressed within the migration of payment traffic in Switzerland. As to the recapitulations, the Swiss financial center has defined the Implementation Guidelines of the appropriate ISO 20022 messages (camt.052, camt.053 and camt.054). However, it remains optional for individual financial institutions to offer them to their customers.
Why will the identification of the ISR procedure now be made with a special IBAN?
In the current procedure, identification for the ISR service takes place using the ISR participant number (ISR customer number for PostFinance). Identification by means of this participant number ensures, for example, that in e-banking a payer must also match the reference number when entering a payment. This leads to a higher level of automation at the creditor, because the received payment amount can be allocated to the corresponding open invoice by means of the reference number. The anticipated regulatory requirements and the decision to, in the future, exclusively use the IBAN format in the new QR code in Switzerland for the creditor's account, meant that a successor structure to the ISR participant had to be designed. After reviewing multiple options, it turned out that the high rate of automation can only be ensured using a special IBAN.
Is straight-through processing of the reference number ensured?
The new QR code contains the characteristics of the current red inpayment slip with message field (IS) and the orange one with reference number (ISR). The Swiss financial center is aware of the importance of the high level of automation of the ISR. Therefore, the object when formulating the QR code is to at least achieve the current level of automation. Correspondingly, the special IBAN will ensure that the debtor must type in the reference number when entering a payment with a structured reference.