How You Group ISO 20022 SEPA and CGI Credit Transfer Messages
A credit transfer message is a payment initiation message format that is sent by an initiating party to an forwarding agent or debtor agent. It's used to request the movement of funds from a debtor account to a creditor.
This message format, which is known as CustomerCreditTransferInitiationV05 (pain.001.001.05), was approved by the International Organization for Standardization (ISO). ISO 20022 is a global standard for the development of all financial messages.
Oracle Fusion Payments provides two versions of the credit transfer message format; one for SEPA and one for CGI. Single Euro Payment Area (SEPA) is a system that provides a standardized process for credit transfers and a cheaper way for individuals and firms to make transactions within European member countries or regions. Common Global Implementation (CGI) is an organization that provides a forum that promotes wider acceptance of ISO 20022 as the common XML standard used between corporate enterprises and banks.
The ISO 20022 credit transfer message format has a three-level XML message structure as described in the following table.
|
Level |
Level Name |
Level Content |
|---|---|---|
|
1 |
Group header |
Information shared by all individual transactions included in the message. |
|
2 |
Payment information |
Data that applies to the debit side of the payment transactions included in the credit transfer initiation. |
|
3 |
Supplementary data |
Additional information that can't be captured in the structured elements or any other specific block. |
Mandatory Grouping Options
The Grouping tab on the Create and Edit Payment Process Profile page contains mandatory ISO 20022 grouping options for both SEPA and CGI versions of the credit transfer message format that tell Payments how to group transactions within a payment file.
The following table describes the mapping between Payments grouping options and the ISO 20022 elements in the SEPA and CGI versions of the credit transfer message format.
|
Mandatory Grouping Options on Grouping Tab on Create and Edit Payment Process Profile Page |
Mapping to ISO 20022 Element |
|---|---|
|
Payment date |
Requested execution date |
|
Disbursement bank account |
|
Optional Grouping Options
The Grouping tab on the Create and Edit Payment Process Profile page contains optional ISO 20022 grouping options for both SEPA and CGI versions of the credit transfer message format that tell Payments how to optionally group transactions within a payment file.
The following table describes the mapping between Payments grouping options and the ISO 20022 elements in the SEPA and CGI versions of the credit transfer message format.
|
Optional Grouping Options on Grouping tab on Create and Edit Payment Process Profile Page |
Mapping to ISO 20022 Element |
|---|---|
|
Settlement Priority |
Instruction priority |
|
Service Level and Delivery Channel |
Service level and local instrument |
|
Ultimate Debtor |
Ultimate debtor |
|
Charge bearer |
Charge bearer |
|
Category purpose |
Category purpose |