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

In ISO 20022, Participants (which is what we re talking about here) trace to the BusinessRole from which they are derived. A BusinessRole is the more generic term to which many Participants trace to, depending on the context in which they are used. E.g. in the Cards business, we use different names to identify payer/payee i.e. merchant/acquirer. So we can apply this mechanism for web payments too, if need be.  The Harmonisation TF would ensure these web payments businessTransactions are submitted to ISO 20022. From a Message / API point of view, there is a difference: the elements used in e.g. the ISO 20022 Credit Tf message cannot be changed as they must apply for any context (be it cards, cash settlement, web payments,...)  in which Credit Tf message is used.. 

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Received on Thursday, 21 January 2016 13:09:34 UTC