Global Payment Interface Requirements
Complete inventory of payment rail APIs, standards, and compliance requirements across 15+ jurisdictions for banking acceptance worldwide.
SWIFT & ISO 20022
SWIFT and ISO 20022 form the universal connectivity layer that underpins cross-border payments globally. Every jurisdiction-specific rail eventually connects through these standards for international settlement. Both are P0 requirements for JIL banking acceptance.
SWIFT MT Legacy Messages
FIN (MT) messages remain in widespread use despite the ISO 20022 migration. JIL must support both formats during the multi-year transition period.
| Message | Name | Use Case | Priority |
|---|---|---|---|
MT 103 | Single Customer Credit Transfer | Core cross-border payment instruction | P0 |
MT 202 | General Financial Institution Transfer | Bank-to-bank cover payments | P0 |
MT 202 COV | Cover Payment | Cover payment linked to MT 103 | P0 |
MT 900 | Confirmation of Debit | Debit confirmation from account servicer | P1 |
MT 910 | Confirmation of Credit | Credit confirmation from account servicer | P1 |
MT 940/942 | Customer Statement / Interim | Account balance and transaction reporting | P1 |
MT 199/299/399 | Free Format Messages | Exception handling and investigations | P2 |
ISO 20022 Core Messages
ISO 20022 is the target standard for all new payment rails. XML-based with rich structured data, enabling end-to-end automation and compliance. SWIFT's CBPR+ migration requires all cross-border messages to use ISO 20022 by November 2025.
| Message | Name | Use Case | Priority |
|---|---|---|---|
pacs.008 | FI to FI Customer Credit Transfer | Primary payment instruction (replaces MT 103) | P0 |
pacs.009 | FI to FI Financial Institution Credit Transfer | Cover payment (replaces MT 202/202 COV) | P0 |
pacs.002 | FI to FI Payment Status Report | Real-time status tracking and confirmations | P0 |
pacs.004 | Payment Return | Return of previously settled payments | P0 |
camt.052 | Bank to Customer Account Report | Intra-day account balance reporting | P1 |
camt.053 | Bank to Customer Statement | End-of-day account statements (replaces MT 940) | P1 |
camt.054 | Bank to Customer Debit/Credit Notification | Real-time credit/debit notifications | P1 |
camt.056 | FI to FI Payment Cancellation Request | Cancel or recall a payment in flight | P1 |
camt.029 | Resolution of Investigation | Response to cancellation requests and investigations | P2 |
US Payment Rails
The US operates four primary domestic payment rails. NACHA/ACH handles the bulk of recurring and batch payments, while FedNow, CHIPS, and RTP address real-time and high-value settlement.
NACHA / ACH
P0- Fixed-width flat file format (94 chars/record)
- Same-Day ACH: 3 windows, $1M per-transaction limit
- 2026 fraud monitoring mandate (Phase 1 effective March 20)
- PAYROLL / PURCHASE standardized entry descriptions
- SEC codes: PPD, CCD, WEB, IAT, CTX
FedNow
P1- ISO 20022 native - pacs.008 credit transfers
- 24/7/365 real-time gross settlement
- $500,000 per-transaction limit (default, configurable by FI)
- Federal Reserve operated - requires FI sponsorship
- Request for Payment (RFP) support via pain.013/pain.014
- Settlement in central bank money (zero credit risk)
CHIPS
P1- $1.8 trillion/day average volume
- ISO 20022 migration in progress
- Multilateral netting - settles in batches
- 63 direct participant banks
- Primarily USD cross-border correspondent banking
RTP (The Clearing House)
P1- $1,000,000 per-transaction limit
- 24/7/365 real-time credit push only
- ISO 20022 based messaging
- Request for Payment (RFP) capability
- Privately operated by The Clearing House
EU Payment Rails
The EU payment landscape centers on SEPA for EUR-denominated transfers across 36 countries, PSD2/PSD3 Open Banking for API-based access, and TARGET2 for high-value interbank settlement.
SEPA Credit Transfer (SCT) & SCT Inst
SEPA SCT (Standard)
P0- 36 countries (EU + EEA + UK + CH + MC + SM + AD + VA)
- EUR only, no transaction limit
- Settlement: D+1 business day
- ISO 20022 XML (pain.001/pacs.008)
- IBAN-based addressing
SEPA SCT Inst (Instant)
P1- EUR 100,000 per-transaction limit
- 24/7/365 real-time settlement (10 seconds max)
- EU regulation mandates all PSPs offer by Jan 2025
- Verification of Payee (VoP) required
- Sanctions screening within 10-second window
PSD2 / PSD3 Open Banking
PSD2 mandates banks expose account and payment APIs to licensed Third-Party Providers (TPPs). The Berlin Group NextGenPSD2 framework defines the standard API specification used across the EU.
| Endpoint | Method | Description | Auth |
|---|---|---|---|
/v1/accounts | GET | List accessible payment accounts | OAuth 2.0 + eIDAS QWAC |
/v1/accounts/{id}/balances | GET | Retrieve account balances | OAuth 2.0 + SCA |
/v1/accounts/{id}/transactions | GET | Retrieve transaction history | OAuth 2.0 + SCA |
/v1/payments/sepa-credit-transfers | POST | Initiate SEPA credit transfer | OAuth 2.0 + SCA |
/v1/payments/instant-sepa-credit-transfers | POST | Initiate instant SEPA credit transfer | OAuth 2.0 + SCA |
/v1/payments/cross-border-credit-transfers | POST | Initiate cross-border payment | OAuth 2.0 + SCA |
/v1/signing-baskets | POST | Group multiple payment initiations | OAuth 2.0 + SCA |
/v1/consents | POST | Create consent for account access | OAuth 2.0 |
TARGET2
P2ECB-operated real-time gross settlement system for high-value EUR payments between banks. Average daily volume exceeds EUR 1.7 trillion. Migrated to T2 with ISO 20022 in March 2023. Requires direct or indirect ECB access - relevant only for FI-level integration.
UK Payment Rails
The UK payment infrastructure is among the most advanced globally, with Faster Payments providing 24/7 real-time transfers, OBIE setting the open banking standard, and CHAPS handling high-value settlement.
UK Faster Payments
P0- 24/7/365 real-time settlement
- Up to GBP 1,000,000 per transaction (individual FI limits vary)
- ISO 8583 messaging (migrating to ISO 20022 via NPA)
- Confirmation of Payee (CoP) mandatory - name matching before payment
- Pay.UK operated - requires direct or indirect agency access
- Contingent Reimbursement Model (CRM) for APP fraud
- Sort code + account number addressing
UK Open Banking (OBIE)
FCA-authorized Account Information Service Provider (AISP) and Payment Initiation Service Provider (PISP) access. The CMA9 banks and all FCA-regulated PSPs must expose these APIs.
P1| Endpoint | Method | Description | Auth |
|---|---|---|---|
/accounts | GET | List accounts with consent | OAuth 2.0 + FAPI |
/accounts/{id}/balances | GET | Retrieve account balances | OAuth 2.0 + FAPI |
/accounts/{id}/transactions | GET | Retrieve transaction history | OAuth 2.0 + FAPI |
/domestic-payments | POST | Initiate domestic GBP payment | OAuth 2.0 + FAPI + SCA |
/domestic-scheduled-payments | POST | Schedule a future-dated payment | OAuth 2.0 + FAPI + SCA |
/domestic-standing-orders | POST | Set up recurring standing order | OAuth 2.0 + FAPI + SCA |
/international-payments | POST | Initiate international payment | OAuth 2.0 + FAPI + SCA |
/funds-confirmation | POST | Check if funds available (CBPII) | OAuth 2.0 + FAPI |
CHAPS
P2Bank of England operated RTGS for high-value GBP payments. No per-transaction limit. Same-day settlement during business hours (6 AM - 6 PM UK time). ISO 20022 migrated. Critical for institutional GBP settlement but requires BoE participant access.
Singapore Payment Rails
Singapore operates one of the most advanced real-time payment ecosystems in Asia, with FAST providing instant domestic transfers, PayNow enabling proxy-based addressing with cross-border links, and MAS setting the API standard.
FAST (Fast and Secure Transfers)
P0- ISO 20022 native messaging
- 24/7/365 real-time settlement
- SGD 200,000 per-transaction limit
- MAS licensing required (Major Payment Institution or bank)
- Operated by Banking Computer Services (BCS)
- Supports SGD credit transfers only
PayNow
P0- Proxy addressing - mobile number, NRIC/FIN, UEN (corporate)
- Built on top of FAST infrastructure
- QR code payment support (SGQR standard)
- Cross-border link: India UPI (live)
- Cross-border link: Malaysia DuitNow (live)
- Cross-border link: Thailand PromptPay (live)
MAS API Standard
P1MAS publishes the Singapore Financial Data Exchange (SGFinDex) and API playbook for financial institutions. Key standards include common API headers, OAuth 2.0 with MTLS client certificates, consent management framework, and standardized error codes. JIL integration requires MAS-compliant API gateway configuration.
UAE Payment Rails
The UAE launched Aani as its instant payment platform, positioning the country as a regional fintech hub with cross-border connectivity to India and beyond.
Aani (Instant Payment Platform)
P0- ISO 20022 native messaging
- AED 50,000 per-transaction limit
- 24/7/365 real-time settlement (under 10 seconds)
- Proxy addressing - mobile, Emirates ID, trade license
- Cross-border link: India UPI (bilateral corridor)
- CBUAE licensing required (Retail Payment Service Provider license)
- FATF Travel Rule compliance mandatory for all transfers
- QR code payments supported (EMVCo standard)
IPI (Legacy)
P2Legacy inter-bank payment infrastructure. Being replaced by Aani for domestic transfers. Retain compatibility for legacy integrations with older UAE banking systems that have not yet migrated.
Brazil Payment Rails
Brazil's Pix is the most successful instant payment system globally by adoption rate, with 160+ million users and 76% of all Brazilian payments flowing through the platform. Operated by the Central Bank of Brazil (BCB), it uses a modern REST/JSON API architecture.
Pix
P0- REST/JSON API architecture (not ISO 20022 XML)
- 160+ million registered users
- 76% of all Brazilian payments
- 24/7/365 real-time settlement (under 10 seconds)
- No per-transaction limit for businesses (personal limits set by PSP)
- Proxy addressing: CPF/CNPJ, email, phone, random key (EVP)
- OAuth 2.0 + mTLS authentication
- BCB licensing required (Payment Institution or bank charter)
- Pix Garantido (scheduled/installment Pix) in rollout
Pix API Endpoints
| Endpoint | Method | Description | Auth |
|---|---|---|---|
/cob | POST | Create immediate charge (cobranca) | OAuth 2.0 + mTLS |
/cob/{txid} | GET | Retrieve charge status | OAuth 2.0 + mTLS |
/cob/{txid} | PATCH | Update charge details | OAuth 2.0 + mTLS |
/cobv | POST | Create charge with due date (boleto-like) | OAuth 2.0 + mTLS |
/pix/{e2eId} | GET | Retrieve completed Pix payment by end-to-end ID | OAuth 2.0 + mTLS |
/pix | GET | List received Pix payments (with filters) | OAuth 2.0 + mTLS |
/pix/{e2eId}/devolucao/{id} | PUT | Initiate refund (devolucao) for a Pix payment | OAuth 2.0 + mTLS |
/pix/{e2eId}/devolucao/{id} | GET | Retrieve refund status | OAuth 2.0 + mTLS |
/webhook | PUT | Register webhook for payment notifications | OAuth 2.0 + mTLS |
/webhook | GET | List registered webhooks | OAuth 2.0 + mTLS |
Japan Payment Rails
Japan's domestic payment system centers on the Zengin System operated by the Japanese Bankers Association. Cross-border payments use SWIFT, and the FSA is driving an open banking framework.
Zengin System
P1- Proprietary fixed-width format (not ISO 20022)
- Near real-time since Zengin-Net upgrade (2018)
- 24/7 since Moretimu-Net extension (2018)
- JPY domestic transfers only
- ~1,200 participating financial institutions
- Bank code + branch code + account number addressing
- Requires JBA membership or banking license
Cross-Border & Open Banking
- SWIFT MT/ISO 20022 for all cross-border JPY
- BOJ-NET for high-value interbank (RTGS)
- FSA Open Banking framework (voluntary, not mandated)
- ~130 banks with published APIs (as of 2025)
- No standardized API spec (each bank defines own)
- eKYC requirements for account opening via API
Additional Jurisdictions
The following jurisdictions are on JIL's expansion roadmap. Each has domestic instant payment infrastructure that JIL will connect to as market demand dictates.
Australia - NPP / PayID
New Payments Platform with PayID proxy addressing. ISO 20022 native. Osko overlay for consumer payments. RBA operated, AUD only. Real-time 24/7.
Canada - Interac / RTR
Interac e-Transfer for P2P/P2B. Real-Time Rail (RTR) launching for instant ISO 20022 payments. Lynx for high-value RTGS. CAD only. Payments Canada operated.
Hong Kong - FPS
Faster Payment System supporting HKD and CNY. 24/7 real-time. HKMA operated. Proxy addressing via mobile, email, FPS ID. Cross-border links to Thailand and mainland China.
South Korea - Open Banking
KFTC Open Banking platform with standardized APIs. Real-time domestic transfers. Mandatory for all banks. KRW only. Strong fintech adoption with K-Bank and Toss integration.
Switzerland - SIC5
SIX Interbank Clearing system (SIC5). ISO 20022 native. CHF RTGS for high-value and retail. SNB operated settlement. eBill for invoice-based payments. SEPA-adjacent but not SEPA member.
India - UPI Cross-Border
Unified Payments Interface with 12B+ monthly transactions. Cross-border links to Singapore (PayNow), UAE (Aani), and expanding. INR real-time via NPCI. RBI regulated.
Israel - Zahav / Masav
Zahav for high-value RTGS (ILS). Masav for batch clearing (payroll, recurring). BOI operated. Shva for card and POS infrastructure. Open banking regulation in progress.
Master Build Prioritization Matrix
Complete inventory of all payment interfaces across jurisdictions, ranked by priority for JIL banking acceptance.
| Interface | Jurisdiction | Protocol | Priority | Access Method |
|---|---|---|---|---|
| SWIFT MT 103/202 | Global | FIN (fixed-width) | P0 | SWIFT membership / BIC |
| ISO 20022 (pacs/camt) | Global | XML / ISO 20022 | P0 | SWIFT CBPR+ / domestic CSM |
| NACHA / ACH | United States | Fixed-width flat file | P0 | ODFI sponsorship / TPSP registration |
| SEPA SCT | EU (36 countries) | ISO 20022 XML | P0 | PSP license / CSM connection |
| UK Faster Payments | United Kingdom | ISO 8583 (migrating to ISO 20022) | P0 | Direct / agency access via Pay.UK |
| FAST | Singapore | ISO 20022 | P0 | MAS Major Payment Institution license |
| PayNow | Singapore | ISO 20022 (via FAST) | P0 | MAS license + BCS connection |
| Aani | UAE | ISO 20022 | P0 | CBUAE RPSP license |
| Pix | Brazil | REST / JSON | P0 | BCB Payment Institution license |
| FedNow | United States | ISO 20022 | P1 | FI sponsorship / Fed master account |
| CHIPS | United States | ISO 20022 (migration) | P1 | Direct participant membership |
| RTP | United States | ISO 20022 | P1 | TCH participant / correspondent |
| SEPA SCT Inst | EU (36 countries) | ISO 20022 | P1 | PSP license / RT1 or TIPS |
| PSD2 Open Banking | EU | REST / JSON (NextGenPSD2) | P1 | AISP/PISP license + eIDAS cert |
| UK OBIE | United Kingdom | REST / JSON | P1 | FCA authorization (AISP/PISP) |
| MAS API Standard | Singapore | REST / JSON | P1 | MAS license + API agreement |
| Hong Kong FPS | Hong Kong | ISO 20022 | P1 | HKMA SVF or bank license |
| Switzerland SIC5 | Switzerland | ISO 20022 | P1 | SIX membership / bank license |
| India UPI (cross-border) | India | REST / JSON | P1 | NPCI partnership / linked corridor |
| Zengin | Japan | Fixed-width (proprietary) | P1 | JBA membership / banking license |
| TARGET2 / T2 | EU | ISO 20022 | P2 | ECB direct/indirect access |
| CHAPS | United Kingdom | ISO 20022 | P2 | BoE settlement account |
| Australia NPP | Australia | ISO 20022 | P2 | RBA / NPPA membership |
| Canada Interac / RTR | Canada | ISO 20022 (RTR) | P2 | Payments Canada membership |
| South Korea Open Banking | South Korea | REST / JSON | P2 | KFTC registration |
| Israel Zahav / Masav | Israel | Proprietary | P2 | BOI banking license |
| Japan Open Banking | Japan | REST / JSON (non-standard) | P2 | Per-bank API agreement |
| UAE IPI (legacy) | UAE | Proprietary | P2 | CBUAE license |
Development Team Allocation
Six development squads work in parallel, each owning a payment rail domain. Squads share the common ISO 20022 parser/generator built by Squad 2.
US Payment Rails
NACHA/ACH file parser and generator, FedNow ISO 20022 integration, RTP credit push, Same-Day ACH scheduling engine, NACHA 2026 fraud monitoring pipeline, return/NOC handling. Owns all US domestic settlement flows.
ISO 20022 Core Library
Shared ISO 20022 XML parser/generator, pacs.008/009/002/004 message handling, camt.052/053/054/056 reporting, SWIFT MT-to-ISO 20022 translation layer, schema validation engine. All other squads depend on this library.
European Payment Rails
SEPA SCT and SCT Inst integration, PSD2/PSD3 NextGenPSD2 API client, UK Faster Payments connector, OBIE API client, Verification of Payee and Confirmation of Payee implementations. Switzerland SIC5 integration.
APAC Payment Rails
Singapore FAST and PayNow integration, UAE Aani connector, Hong Kong FPS, Japan Zengin fixed-width parser, India UPI cross-border corridor, Australia NPP, South Korea KFTC. Manages cross-border proxy linking (PayNow-UPI, Aani-UPI).
Brazil Payment Rails
Pix REST/JSON API client, mTLS certificate management, webhook receiver service, charge (cobranca) lifecycle management, refund (devolucao) pipeline, Pix Garantido scheduled payments. BCB regulatory compliance and reporting.
Cross-Jurisdiction Compliance
FATF Travel Rule implementation across all corridors, sanctions screening (OFAC/EU/UN), multi-jurisdiction KYC/KYB orchestration, fraud monitoring pipeline (shared with Squad 1 for NACHA), audit logging with policy version hashing, regulatory reporting adapters per jurisdiction.
Protocol Quick Reference
Summary of all payment standards, data formats, and authentication methods across the JIL global payment stack.
| Standard | Type | Format | Auth Method |
|---|---|---|---|
| SWIFT FIN (MT) | Cross-border messaging | Fixed-width text | SWIFTNet PKI + BIC |
| ISO 20022 | Universal payment messaging | XML | Varies by rail |
| NACHA | US batch clearing | Fixed-width (94 char/record) | ODFI relationship + SFTP |
| FedNow | US instant payment | ISO 20022 XML | Fed PKI + TLS |
| SEPA | EU credit transfer | ISO 20022 XML | CSM + eIDAS |
| PSD2 NextGenPSD2 | EU open banking | REST / JSON | OAuth 2.0 + eIDAS QWAC |
| UK OBIE | UK open banking | REST / JSON | OAuth 2.0 + FAPI + OB cert |
| UK Faster Payments | UK instant payment | ISO 8583 (migrating) | Pay.UK direct access |
| FAST | Singapore instant payment | ISO 20022 | MAS license + BCS |
| Aani | UAE instant payment | ISO 20022 | CBUAE license + PKI |
| Pix | Brazil instant payment | REST / JSON | OAuth 2.0 + mTLS |
| Zengin | Japan domestic transfer | Fixed-width (proprietary) | JBA membership + dedicated line |
| UPI | India instant payment | REST / JSON + XML | NPCI partnership + PKI |
| Hong Kong FPS | HK instant payment | ISO 20022 | HKMA license + HKICL |
| SIC5 | Switzerland clearing | ISO 20022 | SIX membership + SNB |
Explore JIL Payment Connectivity
Dive deeper into specific payment rail implementations, the NACHA interface, or explore JIL's complete bridges and APIs documentation.