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ISO 20022 adoption modernises SA payment ecosystem

ISO 20022 adoption modernises SA payment ecosystem
it-online.co.za - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from it-online.co.za Daily Mail and Mail on Sunday newspapers.

South africaSouth africanAfrican reserve bankInternational organisation for standardizationPayments association of south africaSouthern african development communitySociety for worldwide interbank financial telecommunicationNational payment system frameworkAfrican communityRapid payments programmeInternational organisationWorldwide interbank financial telecommunicationSwift message typeMarkup languageSouth african multiple option settlementSouth african reserve bank

Reserve Bank on adoption of International Organization for Standardization in South Africa – Africa News Wire

Reserve Bank on adoption of International Organization for Standardization in South Africa – Africa News Wire
za.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from za.com Daily Mail and Mail on Sunday newspapers.

South africaSouth africanAfrican reserve bankPayments association of south africaSouthern african development communityInternational organization for standardizationSociety for worldwide interbank financial telecommunicationNational payment system frameworkAfrican communityRapid payments programmeModernising south africaInternational organizationWorldwide interbank financial telecommunicationSwift message typeMarkup languageSouth african multiple option settlement

Banks migrating to a new standard

Local banks are moving away from the Swift Message Type (MT) standard to the Universal Fi.

Society for worldwide interbank financial telecommunicationSwift message typeUniversal financial industry message schemeWorldwide interbank financial telecommunicationLocal business

BOJ to adopt new standard for improved payment processing

The Bank of Jamaica (BOJ) is taking a lead role in coordinating Jamaica’s migration from the Swift Message Type (MT) standard to the ISO 20022 – ‘Universal Financial Industry Message Scheme’ format by the end of 2025. ISO 20022 is a m

Swift message typeUniversal financial industry message scheme