Glossary

Below is a list of commonly used abbreviations related to the new payment standards.

  • CAMT
    • CAMT (short for Cash Management) is an ISO 20022 payment message format for bank-to-customer reporting (file formats camt.052, camt.053, and camt.054).
  • DTA
    • DTA (short for Datenträgeraustausch) was the standard, secure payment file format used in Switzerland for businesses and individuals. It has been replaced in the new system by an XML message.
  • EPO
    • EPO was the electronic payment format that PostFinance used for wire transfers in Switzerland and abroad. It has been replaced in the new system by an XML message.
  • IBAN
    • IBAN (International Bank Account Number) is the standard format used for bank account numbers around the world.
  • ISO 20022
    • ISO 20022, the “Universal financial industry message scheme,” sets forth a common platform for developing messages sent by financial institutions. It involves using XML language to structure data in a hierarchical format and display it in text files. ISO 20022 aims to establish a global standard for data exchange in the finance industry in order to allow for a higher degree of automation in payment and reporting processes.
  • LSV
    • LSV (short for Lastschriftverfahren) is a direct debit system used in Switzerland for making regular payments.
  • PACS
    • PACS (Payments Clearing and Settlement) is a message group used for clearing and settlement processes between financial institutions.
  • PAIN
    • ISO 20022 includes many different file formats. The format used for exchanging customer information is called PAIN (Payment Initiation), and covers message files for payment orders (pain.001), payment status (pain.002), and debit orders (pain.008).
  • QR-IBAN
    • The IBAN of the account into which payments are made when QR bills are used. QR-IBANs are written into QR codes using the specifications given in ISO 13616. QR-IBANs are issued to companies by their banks; companies cannot come up with QR-IBANs themselves.
  • QR reference
    • The QR reference is the equivalent of the reference number used on the orange BVR payment slips. Companies can include this number on their QR bills if they wish.
  • SCOR 
    • SCOR (Structured Creditor Reference) is an international business reference based on ISO 11649. It allows companies to automatically match payments it receives, particularly from abroad, to its accounts receivable.
  • SEPA
    • SEPA (Single Euro Payments Area) is an EU initiative to standardize payment messages across the area. SEPA is used for EUR-denominated wire transfers between banks in participating countries. 
  • Swiss QR code
    • The QR code contained on QR bills in Switzerland. These codes – characterized by a Swiss cross in the center – contain all the payment information needed to pay bills via any banking channel or at the post office.

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