A new standard that changes how payments work
ISO 20022 is the new international standard for how payment information is structured and exchanged between banks, payment service providers, and systems.
It replaces older payment formats and makes it possible to send more detailed, structured, and machine-readable information with each payment.
The standard is being implemented as the payments market in Sweden and the EU undergoes modernization. Banks and clearing solutions are transitioning to ISO 20022 for both domestic and international payments, which places new demands on systems and integrations.
For system providers, ISO 20022 means that payment flows and data models need to handle more detailed information. At the same time, it creates new opportunities for automated reconciliation, improved reporting, and smarter business logic.
For associations and organizations, the standard leads to clearer payment information, simpler bookkeeping, and less manual work.
Ping Payments' payment services are ready and already operational within the new payment infrastructure—where structure, traceability, and automation are integral components.