Friday, September 15, 2023

What is the difference between the MAS_ISO 20022_Payments_Like-for-Like++_V1 technical version and other versions of ISO 20022?

The MAS_ISO 20022_Payments_Like-for-Like++_V1 technical version is a version of the ISO 20022 message schemas for MEPS+ and FAST payment systems in Singapore. Here are some differences between the MAS_ISO 20022_Payments_Like-for-Like++_V1 technical version and other versions of ISO 20022:
  • The MAS_ISO 20022_Payments_Like-for-Like++_V1 technical version is specific to the payment systems in Singapore, while other versions of ISO 20022 may be used in different countries or regions
    1
    .
  • ISO 20022 is a flexible framework that allows communities of users and message development organizations to define message sets according to an internationally agreed approach
    2
    .
     Therefore, other versions of ISO 20022 may have different message sets compared to the MAS_ISO 20022_Payments_Like-for-Like++_V1 technical version.
  • The adoption of a harmonized ISO 20022 version for message formats is a building block for enhancing cross-border payments
    3
    .
     Therefore, other versions of ISO 20022 may have different levels of adoption and impact on cross-border payments compared to the MAS_ISO 20022_Payments_Like-for-Like++_V1 technical version.
Overall, the MAS_ISO 20022_Payments_Like-for-Like++_V1 technical version is a specific version of the ISO 20022 message schemas for MEPS+ and FAST payment systems in Singapore, and may have differences in message sets and adoption compared to other versions of ISO 20022 used in different countries or regions.

No comments:

Post a Comment

Privacy in cars has become nightmare

  People often think of their cars as private spaces,   but modern cars collect a lot of information   about them .This data   could be used...