The ESR payment slip within the ISO 20022 era and the effects for you as an online merchant | wallee.com

The ESR payment slip within the ISO 20022 era and the effects for you as an online merchant

POSTED ON: June 16 2017

The ESR payment slip within the ISO 20022 era and the effects for you as an online merchant

The harmonization of the payment transaction in Switzerland and the planned conversion to ISO 20022 bring some complex changes when it comes to the communication between bank and merchant.

There are two independent payment systems in Switzerland - the one from PostFinance AG and the one from SIX Interbank Clearing (SIC), which means that there are seven different kinds of documents and more than ten different standards in terms of transaction and direct debit. The goal of the migration is the introduction of ISO 20022 standard, a consistent norm, which defines data formats, which can be read and understood from market participants all over Europe.

This leads to complex impacts on the transaction processes, statements of the bank accounts (notification and reporting), direct debits til the new payment slip. These changes are going to be implemented step by step. PostFinance and the banks have different time schedules, which are published on the different information websites on the institutes. You can find the most important information of the biggest Swiss financial institutions attached to this article. We are focusing on the upcoming impacts for you as a merchant, which is using the ESR payment slip.

”PostFinance is going to stop the notifications in .v11 format and change to ISO 20022 as the first bank at the end of 2017.”

Notifications - from .v11 to camt.053 / camt.054

The changes within the migration of the payment transaction are complex as we’ve mentioned already. We’re going to focus on how the notifications will be like. When you’re processing ESR payments, you receive a statement of all the payments in the .v11 format on a daily basis.

PostFinance is going to stop the notifications in .v11 format and change to ISO 20022 as the first bank at the end of 2017. The new formats are based on XML. This means that the software producer have to process new formats and therefore adjust their software. The ESR reference numbers informationen can be obtained in two formats. You either have the camt.053 with details or camt.054 which is the credit or debit note.

Advantages

There are long-term advantages for you as a merchant. Especially, as the formats are adjusted to the European standards and are standardized overall the banks. In addition, the new formats are offering a better data quality and more payment details, which ease the reconciliation processes in the accounting. In short, the ISO migration offers a stable fundament for the digitalization of the financial processes in Swiss SMEs’ and enables many service providers to develop new products, which ease your life as a merchant and entrepreneur.

If you have any further questions regarding setup or use cases do not hesitate to contact us.

Processing of ESR payments through wallee

With the introduction of the ESR processor you’re able to create ESR payment slips and import the notifications of your bank automatically in wallee. For this reason, you can ease the process of transactions. This kind of payment is available for all the plugins and integrations in wallee as e.g. subscription, Shopify, Magento, Shopware, WooCommerce etc. You just need to configure your processor according to the instruction and install it in your bank account.

With wallee you’re able to process the following notification formats:

  • camt.053 mit Details
  • .v11 (sofern von Ihrer Bank noch ausgeliefert)

In addition to that, PostFinance clients have been integrated into the File Delivery Service. The payment data is imported automatically into wallee. If you connect ESR with our dunning plugin as well as the Pingen Printer, you’re able to record or remind your debitor automatically.

Detailed information are available on our ESR product page.

If you like to get more information about the topic, do not hesitate to contact us.

Migration of the sellxed ESR plugin for Magento

Clients, who were using the ESR Magento Plugin of sellxed and are pushed to do the migration by now, we’ve created a migration path to wallee. In addition to that, you benefit in form of a special offer, in case you’re still having a running sellxed contract.

More information will be published soon on this blog.

Links

#wallee

#News

#ISO 20022

#integration

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