In Europe ISO 20022 is used for European SEPA payments end-to-end. According to the International Standards Organization, ISO 20022 will in the next few years be supporting around 80 % of global volumes and around 87% of value of transactions worldwide. ISO 20022 is becoming a global language for payments messaging, used by payment systems in over 70 countries.

It is called ISO 20022 and is a standardized format for electronic payment information. The Nordics will in the future have one common payment standard. More information about the payment platform is available on the website One payment format – ISO 20022 To fully benefit of the new payment infrastructure the legacy payment infrastructures in the Nordics need to be replaced. By aligning standards with those of Single Euro Payments Area and applying to payments in the eurozone, P27 will bring further harmonization to the European payments landscape. The rulebooks used in P27 are kept and governed by Nordic Payment Council. The payment formats will be based on the same standards as used in the European region for SEPA payments and thereby contribute to streamlined and efficient payment processes, e.g., reconciliation of payments and simplifying error handling of payments independently of currencies – EUR, DKK and SEK. P27 will enable instant credit transfers to and from corporates and private persons via their banks or payment service providers. P27 is a digital payment platform that will enable a multicurrency clearing for cross border and domestic payments.

Bankgiroblankett pdf file