Introduction

The ISO 20022 standard is a modern payment messaging format which was introduced in an attempt to standardise the rules of payment processing and provide a common language and set of messages for interchange, regardless of geographic region. By 2021, more than 70 countries have adopted ISO 20022 as a format for their regional clearing systems.

Similarly to how you would initiate a SEPA credit transfer, you will now be able to initiate generic ISO 20022 credit transfers through the existing Mambu payments APIs and user interface, which can be easily transformed to comply with regional schemes or sent directly to a local ISO-based clearing system.

The actual processing of ISO-based payment orders is done in a similar manner as described in the Payment Order Flow support article. The executed steps, as well as payment statuses remain the same regardless of the messaging format used.

Supported use-cases:

• Initiating outgoing ISO 20022 Credit Transfers
• Receiving incoming ISO 20022 Credit Transfers Returns and/or Rejections
• Initiating outgoing ISO 20022 Requests for Cancellation (recalls)
• Receiving incoming ISO 20022 Positive and Negative responses to Cancellation Requests
• Receiving incoming ISO 20022 Credit Transfers
• Initiating outgoing ISO 20022 Credit Transfers Returns
• Receiving incoming ISO 20022 Requests for Cancellation (recalls)
• Initiating outgoing ISO 20022 Positive and Negative responses to Cancellation Requests

Please note that as this feature is still in an early development phase (Non-Production Preview). This page does not yet provide extensive usage documentation, as the specific implementation may be subject to change. Please refer to our Mambu Release Cycle support article to learn more about how this feature will progress from non-production preview to general availability. You can begin to familiarise yourself with the new messaging format by visiting the ISO 20022 message catalogue and searching for ‘payments initiation’.