Distinguishing Advantages in the Format & Structure of ISO 20022 for Instant Payment Adoption

Distinguishing Advantages in the Format & Structure of ISO 20022 for Instant Payment Adoption
Building on the implementation guidance in the “How to ISO 20022” report, this second report created by the Cross-Border Payments Work Group, sponsored by Mastercard, delves into the specific benefits that ISO 20022 offers over legacy message standards. The report highlights key features such as richer data content, enhanced straight-through processing, and improved operational efficiency, all of which are critical for the successful adoption of instant payments and cross-border transactions.

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