Pay-388/Gov-355 - Payment Message types

Owned by David Higgins
Last updated: Jan 02, 2024
1 min read

Requirement: Identify all message types we need to support for different payment systems. This task is for identification only.

 

Outcome: The following message types are supported by the Mifos solution as follows:

  1. SWIFTMX (ISO20022) - Real-time (instant payment systems) + RTGS systems.

  2. ISO8583 - variants (typically 1987 format) - Card Based payment

  3. Proprietary standards - e.g. Mojaloop, UPI

Open Source Payment Hub supports - Mojaloop integration.

Payment Hub - non-open source supports Biometric/UPI and ISO20022 connectors which are supported by specific providers