Payments Canada published a new Payments Academy video explaining ISO 20022, the international financial messaging standard, and how it enhances payment processing by allowing richer, more structured information to travel with each transaction. The video is intended to help banks, businesses and their customers understand the practical benefits of ISO 20022-enabled payments for Canada’s payment ecosystem. The release highlights that ISO 20022 can improve payment efficiency, enhance data quality and support more seamless transactions, and it includes examples of different use cases. Payments Canada also referenced its role in leading ISO 20022 adoption in Canada and managing usage guidelines for its payment systems in alignment with global standards; the video is available in both English and French.
Payments Canada 2025-03-20
Payments Canada releases Payments Academy video on ISO 20022 to support Canada’s transition to the global payments messaging standard
Payments Canada released a Payments Academy video on ISO 20022, an international financial messaging standard enhancing payment processing with richer, structured information. The video educates banks, businesses, and customers on the benefits of ISO 20022-enabled payments, highlighting improved efficiency and data quality. Payments Canada also emphasized its leadership in adopting ISO 20022 in Canada and managing usage guidelines in line with global standards.