The key points at a glance

What does the harmonization of payment transactions mean?

The Swiss financial center has decided to harmonize payment transactions with the ISO 20022 standard. In doing so, it is strengthening its competitive edge and laying the foundations for digitization. It also means that all companies in Switzerland will have to adapt their financial software. At PostFinance, the current standard has no longer been supported since 1 January 2018.

  • If you did not change to the new ISO 20022 standard in time, then as of 1 January 2018, you can no longer make payment transactions via PostFinance as usual.

    Have you not updated your financial software yet? Ask your financial software provider about the availability of an update to the ISO 20022 standard. Most updates are available or are soon to be released.

    • Consistent use of IBAN numbers
    • Simplification of standards
    • Simplification of payment transactions abroad
    • Harmonization of technical formats in bank and Swiss Post systems
    • Compliance with the requirements of the Anti Money Laundering Act and other statutory provisions
    • QR code replaces the current inpayment slips
    • Establishes the foundations for digitization