Payment routing controls beyond EUR
about 12 hours ago by Prajakta Patil
Soon, you’ll be able to specify routing preferences for currencies beyond EUR, giving you greater control over how your payments are routed and enabling you to optimise for speed, cost, or specific scheme requirements.
We are introducing a new optional property: serviceLevels across our payment initiation endpoints.
How to use Payments routing controls
- Singles payments - new property ‘
serviceLevels’ - Make an agency or correspondent banking payment - new property ‘
serviceLevels’ - Make bulk payments - continue using the existing field 29 for ‘
prioritizedClearingNetworks’ - Payment instruction using pacs.008 format -
- FIToFICstmrCdtTrf-->GrpHdr-->PmtTpInf-->SvcLvl or FIToFICstmrCdtTrf-->CdtTrfTxInf-->PmtTpInf-->SvcLvl
- Payment initiation using pain.001 format -
- CstmrCdtTrfInitn-->PmtInf -->PmtTpInf -->SvcLvl or CstmrCdtTrfInitn-->PmtInf -->CdtTrfTxInf-->PmtTpInf -->SvcLvl
Note: Only one occurrence of Service Level is currently supported per ISO 20022 message.
Supported values
- INST – Indicates instant processing (payments are routed via instant rails)
- NURG – Indicates standard / non-urgent processing (payments are routed via batch clearing systems)
- URGP – Indicates urgent processing (routed via RTGS systems)
For full implementation details, refer to our New Payment routing controls documentation.