Payment Standardization in Switzerland

Payment Standardization in Switzerland

Efficiency and Clarity Thanks to Standardization

SIX Interbank Clearing is involved in several committees focused on questions of standardization concerning the national and international payment traffic. It thus contributes to Swiss banks being able to set up products and services in a timely fashion and to do so on solid and market-driven platforms while facilitating the smooth operation of payments.

The Swiss financial center is introducing beneficial standards, and also taking the opportunity to harmonize payments and to align with the Swiss ISO 20022 payments standard. This is not just SEPA-conforming, in terms of euro payments, but accommodates all domestic and foreign payment transactions.

The harmonization forms the basis for sustainable, competitive Swiss payment traffic in the future. The harmonization program also enables simpler payment processes in the future with improved processing quality. At the same time, complexity will be reduced when it comes to the development and maintenance of payment systems. Innovative and customer-friendly functionalities will be at the users' disposal.

News

10.01.2023

Consultation Report for the Swiss Payment Standards

The consultation report on SPS 2023 for Credit Transfers, Cash Management and Status Report has been completed.

The public consultation pertaining to the planned changes for the three Implementation Guidelines ran from 5 to 20 December 2022.

The new versions of the SPS documents will be published in February 2023. 

23.12.2022

Extension of the Parallel Use of ISO 20022 Standard Versions 2009 and 2019

The Board of Directors of SIX Interbank Clearing (SIC) Ltd has decided to extend the two-year parallel phase for use of both message versions (V2009 and V2019), as outlined in the Swiss Payment Standards (SPS), by one year until November 2025.

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