Pay.UK publishes resources for organisations implementing ISO 20022

The New Payments Architecture (NPA) will unlock significant benefits for many businesses and personal customers within the UK, helping transform the way they control their professional and personal transactions, and creating a wealth of innovation opportunities.

The adoption of the ISO 20022 standard will have a profound impact on the data carrying capability of payment systems and is set to change the way we make payments and transfer financial information.

Pay.UK has published its first set of technical materials for organisations implementing ISO 20022 and moving to the Next Generation Standard for UK retail payments.

Whilst only in draft form and not for implementation at this stage, the materials will allow organisations to start undertaking any necessary impact assessments.

Hannah Frost