Glossary

Term Abbreviation Definition/explanation
Term
Additional Optional Services  
Abbreviation
AOS
Definition/explanation
Additional optional services in accordance with the ISO 20022 standard. These services may vary between various financial institutions.  
Term
Outpayment slip with reference number
Abbreviation
OSR
Definition/explanation
The OSR is an electronic accounts payable service, which allows the customer to make any kind of cash payment. Debits can be entered electronically.
Term
Bank clearing number
Abbreviation
BC number
Definition/explanation
A bank clearing number (BC number) serves in Switzerland and Liechtenstein to identify financial institutions participating in the SIC and/or euroSIC system. 
Term
Business Direct Debit
Abbreviation
BDD
Definition/explanation
For 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. 
Term
Business-to-Business
Abbreviation
B2B
Definition/explanation
Signifies communication and trade relations between at least two companies. 
Term
Business-to-Customer
Abbreviation
B2C
Definition/explanation
Signifies communications and trade relations between companies and consumers (private and business customers).
Term
Gross principle
Abbreviation
 
Definition/explanation
With 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.
Term
Business Identifier Code
Abbreviation
BIC  
Definition/explanation
A 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.).  
Term
camt message types
Abbreviation
camt  
Definition/explanation
camt 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.
Term
camt.052
Abbreviation
 
Definition/explanation
The 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.
Term
camt.053
Abbreviation
 
Definition/explanation
camt.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).
Term
camt.054
Abbreviation
 
Definition/explanation
Credit 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.
Term
CH-DD Direct Debit (Swiss Direct Debit)
Abbreviation
CH-DD
Definition/explanation
With 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.
Term
CH-DD Core Direct Debit (Swiss COR1 Direct Debit)
Abbreviation
CH-DD COR1
Definition/explanation
Swiss 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.  
Term
CH-DD B2B Direct Debit (Swiss B2B Direct Debit)
Abbreviation
CH-DD B2B
Definition/explanation
CH-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.  
Term
Common Global Implementation Initiative
Abbreviation
CGI
Definition/explanation
An association of leading international banks, companies, IT providers and SWIFT, aiming to develop and support uniform field assignments and field interpretations for ISO 20022.
Term
Data carrier exchange
Abbreviation
DTA
Definition/explanation
Swiss banks offer customers the standardized DTA format for submitting payments via electronic channels as well as for rapid, secure and electronic execution.
Term
Debit Direct
Abbreviation
DD
Definition/explanation
Current PostFinance direct debit scheme,
see  www.postfinance.ch/dd
Term
Electronic credit advice
Abbreviation
ECA
Definition/explanation
A 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.
Term
Electronic credit advice with image
Abbreviation
ECA-I
Definition/explanation
Credits 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.
Term
Electronic credit advice full without image
Abbreviation
ECA-F  
Definition/explanation
Credit 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.  
Term
Electronic credit advice full with image
Abbreviation
ECA-Fplus 
Definition/explanation
A 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.  
Term
Electronic payment order
Abbreviation
EPO
Definition/explanation
Electronic payment order in proprietary TXT format or in XML format in accordance with ISO 20022.
Term
Inpayment slip with reference number
Abbreviation
ISR
Definition/explanation
An 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.
Term
Single inpayment slip (IS with individual entry)
Abbreviation
Single IS
Definition/explanation
All 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.).
Term
Bulk inpayment slip (IS with batch entry)
Abbreviation
Bulk IS
Definition/explanation
The 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.).
Term
Euro Banking Association
Abbreviation
EBA
Definition/explanation
The 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.
Term
European Payments Council
Abbreviation
EPC
Definition/explanation
The 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.
Term
European Economic Area
Abbreviation
EEA
Definition/explanation
The 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.  
Term
Extensible Markup Language
Abbreviation
XML
Definition/explanation
Extensible Markup Language (XML) is a data format.
Term
Harmonization of Swiss payment transactions
Abbreviation
 
Definition/explanation
A 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.  
Term
International Bank Account Number
Abbreviation
IBAN
Definition/explanation
The 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.
Term
Interoperability
Abbreviation
 
Definition/explanation
Interoperability 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.  
Term
International Organization for Standardization
Abbreviation
ISO
Definition/explanation
The International Organization for Standardization – abbreviated to ISO – is the international association of standardization bodies. It draws up international standards in diverse areas.
Term
ISO 20022 standard
Abbreviation
 
Definition/explanation
The 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.
Term
Account statement with detailed notification (camt.053)
Abbreviation
 
Definition/explanation
The service includes the notification of all batch entries and detailed transactions in a single electronic account statement (camt.053).  
Term
Account statement with batch entries (camt.053) and separate detailed notification (camt.054)
Abbreviation
 
Definition/explanation
The 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.  
Term
ISO 20022 account notification preparation
Abbreviation
 
Definition/explanation
With 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.  
Term
Direct debit plus
Abbreviation
LSV+
Definition/explanation
For the current banking direct debit scheme,
see  www.lsv.ch  
Term
Net principle
Abbreviation
 
Definition/explanation
Under the net principle, non-executable transactions are generally not booked – only executable transactions are booked.  
Term
pacs message types
Abbreviation
pacs
Definition/explanation
pacs (Payment Clearing and Settlement) denotes XML messages in interbank transactions as per the definitions in the ISO 20022 standard.
Term
pain message types
Abbreviation
pain
Definition/explanation
pain (Payments Initiation) denotes XML messages used between customers and banks as defined in the ISO 20022 standard.  
Term
pain.001
Abbreviation
 
Definition/explanation
The “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).  
Term
pain.002
Abbreviation
 
Definition/explanation
The “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).  
Term
pain.008
Abbreviation
 
Definition/explanation
The “Customer Direct Debit Initiation” XML message (pain.008) is used for electronic issuing of direct debit orders made by customers to the financial institution.  
Term
Swiss Post working day
Abbreviation
 
Definition/explanation
Swiss 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.  
Term
Check digit (Modulo 97-10)
Abbreviation
 
Definition/explanation
The 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.  
Term
QR bill
Abbreviation
 
Definition/explanation
The 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. 
Term
QR code
Abbreviation
 
Definition/explanation
The 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.
Term
Reject
Abbreviation
 
Definition/explanation
The 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.  
Term
Red inpayment slip
Abbreviation
IS
Definition/explanation
An inpayment slip (IS) is a red PostFinance inpayment slip that can be used to transfer money to a postal account.  
Term
RS-PID
Abbreviation
 
Definition/explanation
The invoice issuer’s participant number/ID in the Swiss Direct Debit scheme and in the e-bill solution.  
Term
R transaction
Abbreviation
 
Definition/explanation
A 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.  
Term
Single Euro Payments Area
Abbreviation
SEPA
Definition/explanation
The 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.  
Term
SEPA Credit Transfer Scheme
Abbreviation
 
Definition/explanation
The SEPA Credit Transfer Scheme is the payment scheme for making euro credit transfers across SEPA, as set out in the respective rulebook.  
Term
SEPA Direct Debit
Abbreviation
SEPA-DD
Definition/explanation
With 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. 
Term
SEPA Core Direct Debit
Abbreviation
SEPA-DD Core
Definition/explanation
The 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.
Term
SEPA B2B Direct Debit
Abbreviation
SEPA-DD B2B
Definition/explanation
The 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.
Term
Society for Worldwide Interbank Financial Telecommunication
Abbreviation
SWIFT
Definition/explanation
A cooperative undertaking between international banks, which operates a global telecommunications network and defines standards for electronic collaboration.
Term
Swiss Infrastructure and Exchange
Abbreviation
SIX
Definition/explanation
SIX Group Ltd is the operator of the Swiss financial center infrastructure.
Term
Swiss Interbank Clearing
Abbreviation
SIC
Definition/explanation
Swiss 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.
Term
Swiss QR code 
Abbreviation
 
Definition/explanation
The 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. 
Term
Straight-through processing rate
Abbreviation
STP rate
Definition/explanation
A 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.  
Term
Working capital management
Abbreviation
WCM
Definition/explanation
Swiss 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.  
Term
XML Schema Definition
Abbreviation
XSD
Definition/explanation
An XML schema describes the elements and structure of an XML file.
Term
Payment
Abbreviation
 
Definition/explanation
Also 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.
Term
Payment order
Abbreviation
 
Definition/explanation
Several 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.
Term
Payment file
Abbreviation
 
Definition/explanation
A 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.