Visa DPS is among the first globally to support ISO 20022

Visa DPS is excited to share that we have deployed ISO 20022 (ATICA) to enable authorization processing via an API Interface. Our promise to deploy new and innovative issuer processing solutions is reinforced with our support for the next giant leap forward in payments.

ISO 20022 is the new, single language governing financial exchanges. It is central to bank modernization, supporting future payment flows, and to delivering new and enhanced consumer experiences. It is expected to become the norm across the globe as players in the payments industry seek speed, flexibility, agility and cost efficiency particularly as it relates to digital solutions.

Simplicity – ISO 20022 uses XML/JSON format that is self-documenting and uses tags to make the contents of the message easily decipherable and accessible without technical expertise.

Flexibility – More data in the message for better decisioning and consumption. Data elements are easily added, deleted or modified to address new digital use cases and divisions of labor necessary to execute on your strategy.

Interoperability - No specialized knowledge or mapping protocols needed, inherent backwards compatibility and XML/JSON is widely used in existing systems with widespread support from software programs and tools.

Over time, DPS plans to support additional and ancillary functions further leveraging ISO 20022 to bring standardization across financial messaging.

The DPS team will implement pilot programs and provide more information about progress and results. We will also provide more educational resources around ISO 20022 and showcase how it can simplify processes and infrastructure development to deliver enhanced customer facing tools and experiences. In the meantime, we encourage you to learn more about ISO 20022; check out https://www.iso20022.org to find more information and understand its potential applications to your business.