Glossary

Term Abbreviation Definition/explanation
TermAdditional Optional Services   AbbreviationAOS Definition/explanationAdditional optional services in accordance with the ISO 20022 standard. These services may vary between various financial institutions.  
TermOutpayment slip with reference number AbbreviationOSR Definition/explanationThe OSR is an electronic accounts payable service, which allows the customer to make any kind of cash payment. Debits can be entered electronically.
TermBank clearing number AbbreviationBC number Definition/explanationA bank clearing number (BC number) serves in Switzerland and Liechtenstein to identify financial institutions participating in the SIC and/or euroSIC system. 
TermBusiness Direct Debit AbbreviationBDD Definition/explanationFor business-to-business transactions, Business Direct Debit (BDD) can be used alongside Direct Debit with right of objection (LSV+). BDD involves no right of objection and is relevant as a procedure above all where the business model corresponds to the “delivery versus payment” principle. 
TermBusiness-to-Business AbbreviationB2B Definition/explanationSignifies communication and trade relations between at least two companies. 
TermBusiness-to-Customer AbbreviationB2C Definition/explanationSignifies communications and trade relations between companies and consumers (private and business customers).
TermGross principle Abbreviation  Definition/explanationWith the gross principle, the sum of all executable transactions is entered. Customers who submit orders are compensated for non-executable transactions with the same value date.
TermBusiness Identifier Code AbbreviationBIC   Definition/explanationA Business Identifier Code (BIC) is an eight- or eleven-digit code (ISO 9362) issued by SWIFT and used to clearly identify all directly and indirectly participating partners (financial institution, company, broker, etc.).  
Termcamt message types Abbreviationcamt   Definition/explanationcamt is the abbreviation for Cash Management. These XML-based message types serve to report between bank and customer as per the definitions set out in the ISO 20022 standard.
Termcamt.052 Abbreviation  Definition/explanationThe ISO 20022 message camt.052 for intraday account statements can be delivered at regular intervals (every hour or every two hours) or daily at a maximum of three set times. Each camt.052 message contains all the entries since the last ordinary account statement.
Termcamt.053 Abbreviation  Definition/explanationcamt.053 is the ISO 20022 standard for account statement notifications and is delivered by default via the Bank Transaction Codes (BTC) published by ISO. When providing notification of account statements in camt.053 format, the ISO 20022 definitions apply, as laid down in the Swiss Business Rules and in the Implementation Guidelines for Cash Management. A camt.053 account statement without slip images is delivered as an XML file. Electronic camt.053 account statements with original slip images (TIFF) are delivered in a ZIP file (.tar.gz).
Termcamt.054 Abbreviation  Definition/explanationCredit and debit notifications, as well as detailed notifications, are covered in the ISO 20022 standard by camt.054 messages. Credits and debits are delivered on an ongoing basis via inputs and outputs. The customer has the option to reduce the number of deliveries by defining a limit amount, above which he will receive a notification. Detailed notifications are available for IS, ISR, OSR, CH-DD and SEPA-DD according to the chosen periodicity. The camt.054 message can be delivered either with or without slip images.
TermCH-DD Direct Debit (Swiss Direct Debit) AbbreviationCH-DD Definition/explanationWith the CH-DD Direct Debit scheme, the invoice issuer (RS) can collect receivables in Swiss francs and euros electronically from their customers in Switzerland. The debtor (LZ) can pay quickly and free of charge with this solution.
TermCH-DD Core Direct Debit (Swiss COR1 Direct Debit) AbbreviationCH-DD COR1 Definition/explanationSwiss Cor1 Direct Debit with right of objection is the PostFinance payment procedure for the settlement of debits from business customers charged to consumers in Swiss francs or euros in Switzerland, as set out in the respective rulebook.  
TermCH-DD B2B Direct Debit (Swiss B2B Direct Debit) AbbreviationCH-DD B2B Definition/explanationCH-DD B2B Direct Debit without right of objection is the PostFinance payment scheme for the settlement of debits for business customers as invoice issuers and business customers as debtors in Switzerland, as set out in the respective rulebook.  
TermCommon Global Implementation Initiative AbbreviationCGI Definition/explanationAn association of leading international banks, companies, IT providers and SWIFT, aiming to develop and support uniform field assignments and field interpretations for ISO 20022.
TermData carrier exchange AbbreviationDTA Definition/explanationSwiss banks offer customers the standardized DTA format for submitting payments via electronic channels as well as for rapid, secure and electronic execution.
TermDebit Direct AbbreviationDD Definition/explanationCurrent PostFinance direct debit scheme,
see www.postfinance.ch/dd
TermElectronic credit advice AbbreviationECA Definition/explanationA service which allows the payment recipient to receive the credit information (entries into their business account) in the form of electronic records via file exchange server.
TermElectronic credit advice with image AbbreviationECA-I Definition/explanationCredits from paper-based delivery (post office, payment order). The customer receives an electronic entry record with minimal information for automated entry and an electronic slip image (copy of original slip) on which further payment details can be seen.
TermElectronic credit advice full without image AbbreviationECA-F   Definition/explanationCredit transfers from electronic delivery (EPO, standing order, e-finance, EUROGIRO, SIC, euroSIC and fully recorded foreign transactions) as well as inpayment slips from post offices and the Operations Center (OC) fully recorded by PostFinance. The customer receives an electronic entry record with all payment details.  
TermElectronic credit advice full with image AbbreviationECA-Fplus  Definition/explanationA special version of ECA-F for customers who wish to receive similar notifications for their ECA-F and ECA-I. An artificial slip image is generated for each credit entry.  
TermElectronic payment order AbbreviationEPO Definition/explanationElectronic payment order in proprietary TXT format or in XML format in accordance with ISO 20022.
TermInpayment slip with reference number AbbreviationISR Definition/explanationAn inpayment slip with reference number (ISR) is an orange PostFinance inpayment slip that can be used to transfer money into a postal account. The ISR includes a machine-readable code line which contains a subscriber and reference number. The subscriber number ensures crediting to the relevant postal account. The reference number allows the creditor to identify the invoice recipient. In this way, the payment process can be handled entirely electronically, from the invoicing date to the booking of the amount with the creditor.
TermSingle inpayment slip (IS with individual entry) AbbreviationSingle IS Definition/explanationAll entries/transactions from red inpayment slips will be notified individually on the account statement (camt.053) or detailed notification (camt.054). This means there will be 1 entry (C level) and 1 detailed information (D level) per IS credit. Only the booking information (C level) will be notified on the remaining account statements (PDF, MT94x, etc.).
TermBulk inpayment slip (IS with batch entry) AbbreviationBulk IS Definition/explanationThe entries/transactions from red inpayment slips will be notified as a batch entry on the account statement (camt.053) or detailed notification (camt.054). This means there will be 1 entry (C level) and 1-n detailed information (D level). Only the batch entry (C level) will be notified on the remaining account statements (PDF, MT94x, etc.).
TermEuro Banking Association AbbreviationEBA Definition/explanationThe Euro Banking Association is an association of around 200 European banks. The EBA plays a substantial role in the financial industry, in particular as the initiator of a new European payment transaction system and as the developer of the necessary infrastructure. The goal of the EBA was and is the creation of a single European internal market in this area.
TermEuropean Payments Council AbbreviationEPC Definition/explanationThe European Payments Council (EPC) is the coordination and decision-making body of the European banking industry for payment transactions. It develops – among other things – procedures for SEPA transfers and SEPA Direct Debit, which help to create the integrated euro payment transaction market.
TermEuropean Economic Area AbbreviationEEA Definition/explanationThe European Economic Area (EEA) is a free trade zone between the European Union and the European Free Trade Association (EFTA). It includes all EU countries and EFTA member states with the exception of Switzerland.  
TermExtensible Markup Language AbbreviationXML Definition/explanationExtensible Markup Language (XML) is a data format.
TermHarmonization of Swiss payment transactions Abbreviation  Definition/explanationA joint initiative by various participants in the Swiss financial center for the harmonization of payment transactions in Switzerland, which includes the introduction of ISO 20022.  
TermInternational Bank Account Number AbbreviationIBAN Definition/explanationThe International Bank Account Number (IBAN) is the international standard for presenting account numbers. The International Organization for Standardization (ISO) and the European Committee for Banking Standards (ECBS) created the IBAN in order to rationalize cross-border payments. The presentation of conventional account numbers in the standardized IBAN format simplifies the recording, transmission and processing of payment data.
TermInteroperability Abbreviation  Definition/explanationInteroperability is the necessary precondition for payment regulations and systems to function seamlessly. These should be able to interact across the whole European Union, in accordance with the same standards, without market operators encountering technical obstacles.  
TermInternational Organization for Standardization AbbreviationISO Definition/explanationThe International Organization for Standardization – abbreviated to ISO – is the international association of standardization bodies. It draws up international standards in diverse areas.
TermISO 20022 standard Abbreviation  Definition/explanationThe objective of the International Organization for Standardization (ISO) standard is to accomplish global harmonization of existing and new message standards across various areas of the financial industry. ISO 20022 not only includes payment transaction and account reporting messages, but also covers other areas, including securities trading, foreign trade and treasury.
TermAccount statement with detailed notification (camt.053) Abbreviation  Definition/explanationThe service includes the notification of all batch entries and detailed transactions in a single electronic account statement (camt.053).  
TermAccount statement with batch entries (camt.053) and separate detailed notification (camt.054) Abbreviation  Definition/explanationThe service includes the notification of all batch entries in a single electronic account statement (camt.053).
A detailed electronic notification (camt.054) is issued for all detailed transactions.  
TermISO 20022 account notification preparation Abbreviation  Definition/explanationWith its ISO 20022 account notification preparation, PostFinance offers the option to receive the new camt.053 and camt.054 message types for test purposes. These notifications will be generated in addition to the productive account statements and detailed notification in their existing format.  
TermDirect debit plus AbbreviationLSV+ Definition/explanationFor the current banking direct debit scheme,
see www.lsv.ch  
TermNet principle Abbreviation  Definition/explanationUnder the net principle, non-executable transactions are generally not booked – only executable transactions are booked.  
Termpacs message types Abbreviationpacs Definition/explanationpacs (Payment Clearing and Settlement) denotes XML messages in interbank transactions as per the definitions in the ISO 20022 standard.
Termpain message types Abbreviationpain Definition/explanationpain (Payments Initiation) denotes XML messages used between customers and banks as defined in the ISO 20022 standard.  
Termpain.001 Abbreviation  Definition/explanationThe “Customer Credit Transfer Initiation” XML message (pain.001) is used for electronic issuing of transfer orders made by customers to the transferring financial institution.
PostFinance uses the ISO 20022 message for electronic payment orders (EPO).  
Termpain.002 Abbreviation  Definition/explanationThe “Customer Payment Status Report” (pain.002) XML message is used by the financial institution to inform customers of the status of sent credit transfer orders (pain.001) or collection orders (pain.008).  
Termpain.008 Abbreviation  Definition/explanationThe “Customer Direct Debit Initiation” XML message (pain.008) is used for electronic issuing of direct debit orders made by customers to the financial institution.  
TermSwiss Post working day Abbreviation  Definition/explanationSwiss Post working days are weekdays from Monday to Friday. Exceptions are general public holidays (Canton of Berne). If the due date specified by the customer is not a Swiss Post working day, the order will be executed/delivered on the next Swiss Post working day.  
TermCheck digit (Modulo 97-10) Abbreviation  Definition/explanationThe Modulo 97-10 (ISO 7064) procedure is used to calculate IBAN check digits, as well as in structured use for the IPI slip, as per ECBS. The check digit is always a two-digit numerical figure. Its position in the IBAN and within a structured use is strictly prescribed. In the case of the IBAN, it is always found in position 3 and 4 after the country code for all participating countries.  
TermQR bill
Abbreviation  Definition/explanationThe QR bill consists of a number section and the Swiss QR code. The QR bill is issued in A6 format and replaces the current inpayment slips. 
TermQR code Abbreviation  Definition/explanationThe QR code is a quadratic matrix consisting of black and white pixels which depict the coded data in a binary format. A special marking in three of the four corners of the square allows the scanner to determine the correct way to process the image.
TermReject Abbreviation  Definition/explanationThe debtor’s bank can reject a collection in the direct debit scheme or a payment in the credit transfer process before settlement on technical grounds or because it is not able to carry out the collection or the credit transfer (R transaction) for any other reason.  
TermRed inpayment slip AbbreviationIS Definition/explanationAn inpayment slip (IS) is a red PostFinance inpayment slip that can be used to transfer money to a postal account.  
TermRS-PID Abbreviation  Definition/explanationThe invoice issuer’s participant number/ID in the Swiss Direct Debit scheme and in the e-bill solution.  
TermR transaction Abbreviation  Definition/explanationA transaction that results in exception processing during the payment process is referred to as an R transaction. An R transaction means a payment transaction which cannot be properly executed by a payment service provider or which results in exception processing, for reasons such as a lack of funds, revocation, a wrong amount or a wrong date, a lack of mandate or wrong or closed account.  
TermSingle Euro Payments Area AbbreviationSEPA Definition/explanationThe Single Euro Payments Area (SEPA) is the area of the EU/EEA member states plus Switzerland, where citizens, companies and other economic operators are able to make and receive payments in euros, whether across or within national boundaries under the same basic conditions, rights and obligations, regardless of their location.  
TermSEPA Credit Transfer Scheme Abbreviation  Definition/explanationThe SEPA Credit Transfer Scheme is the payment scheme for making euro credit transfers across SEPA, as set out in the respective rulebook.  
TermSEPA Direct Debit AbbreviationSEPA-DD Definition/explanationWith the SEPA Direct Debit scheme, the creditor can collect receivables in euros electronically from their customers in the SEPA area (including in Switzerland). The debtor can pay quickly and easily with this solution. 
TermSEPA Core Direct Debit AbbreviationSEPA-DD Core Definition/explanationThe SEPA Core Direct Debit Scheme with right of objection is the payment method for the settlement of debits in euros from business customers to consumers in the SEPA area, as set out in the respective rulebook.
TermSEPA B2B Direct Debit AbbreviationSEPA-DD B2B Definition/explanationThe SEPA B2B Direct Debit Scheme without right of objection is the payment method for the settlement of debits in euros in the SEPA area when both the debtor and creditor are business customers, as set out in the respective rulebook.
TermSociety for Worldwide Interbank Financial Telecommunication AbbreviationSWIFT Definition/explanationA cooperative undertaking between international banks, which operates a global telecommunications network and defines standards for electronic collaboration.
TermSwiss Infrastructure and Exchange AbbreviationSIX Definition/explanationSIX Group Ltd is the operator of the Swiss financial center infrastructure.
TermSwiss Interbank Clearing AbbreviationSIC Definition/explanationSwiss Interbank Clearing (SIC) is the main electronic payment system in Switzerland through which participating financial institutions process their large value and high volume payments in Swiss francs in real time.
TermSwiss QR code 
Abbreviation  Definition/explanationThe Swiss QR code is a QR code which contains all the necessary payment information in digital form. An identifying feature is the Swiss cross in the centre of the code. The printed information in the number section and the Swiss QR code together form the QR bill. This bill replaces the current inpayment slips. 
TermStraight-through processing rate AbbreviationSTP rate Definition/explanationA straight-through processing rate (STP rate) indicates what percentage of transactions in a process can be processed fully automatically. According to the Swiss STP Resolution (since 2007) an STP transaction occurs when, after being generated and routed through all involved payment systems, it can be delivered directly to the creditor’s financial institution without manual intervention.  
TermWorking capital management AbbreviationWCM Definition/explanationSwiss Post offers all of the logistics, finance and IT services relevant to working capital management from a single source. These services, unique in Switzerland, allow customers to coordinate processes in a timely fashion, to realize the greatest possible level of potential synergies and to prepare themselves for future challenges.  
TermXML Schema Definition AbbreviationXSD Definition/explanationAn XML schema describes the elements and structure of an XML file.
TermPayment Abbreviation  Definition/explanationAlso known as a “Payment Instruction”, this refers to an individual credit to a creditor and forms the smallest processing unit in the payment transaction process. In paper-based payment transactions, the term “Slip” is often also used in its place. Several payments can be summarized in payment orders. Within the context of ISO 20022, payments are shown on C level when they are submitted using pain.001.
TermPayment order Abbreviation  Definition/explanationSeveral payments (individual payments) can be summarized in one payment order. Within the context of ISO 20022, payment orders are shown on B level in pain.001. These are often referred to simply as an “order”, which is why the B level of pain.001 is also known as the order level.
TermPayment file Abbreviation  Definition/explanationA payment file is the technical unit with which a debtor can submit their payment orders for processing. Within the context of ISO 2022, this corresponds to the A level.