Central Banking

CPMI pushes for harmonised cross-border payments data

Launch of minimum standards aims to tackle risk of inconsistent ISO 20022 messaging

Electronic payments

The Basel-based Committee on Payments and Market Infrastructures (CPMI) launched a set of minimum standards today (October 17) in a bid to harmonise cross-border payments data.

New data requirements for the ISO 20022 messaging standard “will facilitate the straight through processing of end-to-end payments, making them faster and more reliable”, the CPMI said.

ISO 20022 is being widely adopted around the world as countries overhaul their payment systems. The standard is designed to allow

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