Glossary

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).
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
- The PAIN message format is used when you transfer payment files to your bank via a payment software.
- A pain.001 message is sent when you make a payment order.
- A pain.002 message is sent to you by your bank to confirm it received your order or to indicate the payment or transaction status (e.g., if the order is refused).
- A pain.008 message is sent to execute a debit order (LSV file).
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.