Re: [webpayments] PROPOSAL: Adopt ISO20022 terminology for payer and payee and use synonyms as appropriate (#62)

A revision that Cyril, Laurent, Vincent, Kris discussed today and recommend as a revised proposal is

W3C Term (Common Terms) [ISO 20022 definition]

examples would be;
Payee (Merchant) [Creditor|Beneficiary]
Payee PSP (Acquirer/Gateway) [Acquirer|Intermediary]
Payer (Shopper/Consumer/User) [Debtor|Initiator]
Payee PSP (Wallet) [Intermediary]

We would keep the W3C Term for use in the spec.
Common terms and ISO 20022 definitions may change between flows, for example for DD the ISO term is Beneficiary, for CT it is Creditor.

We will endeavour to have the W3C Terms added to the ISO repository as reserved words or ideally as specific mappings, e.g. a Payee is the superclass covering Creditors and Beneficiaries.

What this exercise has shown (me at least) is that these definitions are likely to evolve as we balance understandability and standardisation during the course of our work.




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