AusPayNet welcomes the ISO 20022 Payments Interoperability Charter for high value payments

MEDIA RELEASE

11 April 2024

AusPayNet welcomes the ISO 20022 Payments Interoperability Charter
for high value payments

AusPayNet, the self-regulatory body for the Australian payments industry, today announced its support for the ISO 20022 Payments Interoperability Charter, published by High Value Payments Systems Plus (HVPS+).

The charter sets out principles and objectives, which are designed to enable the evolution and interoperability of cross-border and domestic high value ISO 20022 payments. These principles aim to ensure that live implementations of ISO 20022 messaging remain current, minimising unnecessary variation from HVPS+ templates, and promote the open sharing of information (such as message types and versions) between Market Infrastructures around the world.

AusPayNet CEO, Andy White, said global adoption of the HVPS+ ISO 20022 Payments Interoperability Charter was important in helping to remove friction and promote harmonisation, and to leverage the benefits of the ISO 20022 messaging format.

“ISO 20022 messaging offers significant opportunities to the global payments community. Consistent adoption of this format by Market Infrastructures across jurisdictions will address friction in cross-border payments, in addition to facilitating greater efficiency and innovation in payments,” he said.

“Adoption of the ISO 20022 Payments Interoperability Charter is an important step for Market Infrastructures,” he added.

AusPayNet is one of several participants in the global HVPS+ community. The mission of HVPS+ is to drive best practice and correct use of payment messaging standards, to achieve interoperability across high value payments systems.

Rob Magee, Program Director of the Australian ISO 20022 Industry Migration and Co-Chair of HVPS+, said, “HVPS+ is leading the way in collaborative management and maintenance of its ISO 20022 template specifications for the benefit of the whole HVPS+ community. All Market Infrastructures are welcome to join HVPS+.”

AusPayNet encourages all Market Infrastructures operating ISO 20022 high value payments systems to declare their support for, and adopt, the principles and objectives of the HVPS+ ISO 20022 Payments Interoperability Charter.

More information on HVPS+ and a link to the ISO 20022 Payments Interoperability Charter are available here.