Real-Time Payments Import File Formats

The Real-Time Payments (RTP) Request for Payment (RfP) import file formats are typically based on the ISO 20022 standard, which defines the structure and components for electronic data interchange in payment systems. These formats are highly structured to ensure secure and efficient transmission of payment requests. Below are the key attributes and components of these import file formats:

1. File Structure:

• Format: Most RTP RfP files follow the ISO 20022 PAIN.013 message format, usually represented as XML.
• Encoding: Files are encoded in UTF-8 to accommodate special characters and ensure compatibility across systems.
• Schema Compliance: The file format must strictly adhere to ISO 20022 schemas to be accepted by banks and financial institutions.

2. Header Information:

• Message ID: A unique identifier for the payment request, used for tracking.
• Creation Date: The date and time the RfP message was created.
• Version: Specifies the version of the ISO 20022 schema being used.

3. Creditor (Payee) Details:

• Creditor’s Name and Address: The name and contact details of the entity requesting the payment.
• Creditor's Account Information: Bank account details such as IBAN or Routing Number for the payee’s bank.
• Reference ID: A unique reference that helps identify the payment, often tied to an invoice or contract.

4. Debtor (Payer) Information:

• Debtor’s Name and Address: The name and details of the entity making the payment.
• Debtor’s Bank Account: Account details of the payer, including IBAN or other bank identification numbers.
• Debtor Identification: May include customer ID, or invoice numbers for further clarity.

5. Payment Information:

• Amount: The amount requested for payment, often defined with currency codes (e.g., USD, EUR).
• Due Date: The specific date by which the payment is requested.
• Payment Type: Indicates whether the request is for a one-time or recurring payment.

6. Remittance Information:

• Structured Data: Includes specific details of the payment, such as an invoice number, reference codes, or customer ID.
• Unstructured Data: Can contain additional notes or descriptions, such as explanations for the payment.

7. Settlement Information:

• Interbank Settlement Amount: The amount to be settled between banks.
• Payment Execution Date: The date on which the funds transfer is expected to be executed.

8. Security and Authentication:

• Digital Signatures: Files may require digital signatures to ensure the authenticity of the payment request and to prevent tampering.
• Encryption: The file must be securely transmitted, typically using protocols like HTTPS or SFTP, to prevent unauthorized access during transmission.

9. File Types:

• XML (.xml): The most common format, particularly for ISO 20022-compliant messages.
• CSV (.csv): In some cases, a simpler format like CSV may be used for batch uploads, although it is less common and usually dependent on the specific bank's systems.

10. Compliance with Regulations:

• Files must adhere to compliance regulations such as Know Your Customer (KYC) and Anti-Money Laundering (AML) to avoid legal issues and ensure smooth processing.
• Country-Specific Fields: Some banks may require additional fields that comply with local regulations or reporting needs.

11. Bank-Specific Extensions:

• Some banks or financial institutions may implement proprietary extensions to the ISO 20022 standard, which require additional fields for things like internal processing instructions, routing information, or approval workflows.

These attributes ensure that the Request for Payment files are interoperable across financial institutions, allow for fast and secure processing, and adhere to the stringent requirements of real-time payments systems

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