1.1 Payments

This release introduces key features and enhancements across user experience, security and performance.

Table 1-2 Payments

Enhancements Description
Domestic and Cross-Border Payments – Structured and Hybrid Address Support Domestic & Cross-border payments now support payee address capture in structured, hybrid, and unstructured formats across all types, including saved/new payees, low-value payments, recurring payments for both retail and corporate users. This enhancement ensures that address details are captured in accordance with compliance requirements for domestic and cross-border transactions.
Key Features:
  • Configurable Address Types
    • Banks can configure the address types (Structured, Hybrid, Unstructured, or a combination) via backend settings in network configuration.
    • For cross border payments address setting is applicable for MX type payments. Existing screens also retained for banks not transitioning to MX.
  • Configurable Address Fields
    • Structured Address: Supports all 14 MX-compliant address fields (e.g., Country, Department, Sub Department, Street Name, Building Number, Building Name, Floor, P.O. Box Number, Room, Post Code, Town Name, Town Location Name, District Name, Country subdivision.
    • Hybrid Address: Structured address fields plus Address Line 1 & Address Line 2.
    • Unstructured Address: Continue with the existing support.
    • Banks can configure a subset of fields within Structured and Hybrid address type as needed for respective payment network, through backend configuration.
  • Country-Level Address Configuration
    • Bank users can configure address fields at the country level through backend address configuration settings. This enhancement enables banks to configure address requirements in line with country-specific standards and common practices.
User Experience Enhancements When making a payment, address types and fields are displayed to the user according to the bank’s specific configuration for address fields.
Cross Border Payments Enhanced to Support Structured and Unstructured Remittance Information Users can now enter remittance information in either ‘unstructured’ or ‘structured’ format, as supported by MX, when making cross-border payments across all types, including saved and new payees, low-value payments, and recurring payments for corporate payments. For retail payments, only unstructured remittance information is supported. The configuration of fields is now available through regionalization configurator.
Key Features:
  • Supports both ‘unstructured’ and ‘structured’ remittance formats supported by MX, configurable at the bank level.
  • For MX-type payments, banks can enable ‘unstructured’ remittance only, or both unstructured and structured options.
  • Unstructured remittance presents a single input field of length 140 characters.
  • Multiple instances of structured remittance and line details is supported.
  • Existing 'Payment Details' input is retained for MT-type payments.
  • Bank can configure whether to use MT-type or MX-type remittance.
Support Extended Character Set as per MX Standards Users can now enter payee and payment information using extended characters supported by the MX standard when making cross border payments. This enhancement applies to all cross-border payments, including saved and new payees, low value payments, and recurring payments. Existing configuration retained for banks not transitioning to MX.
SWIFT MT to MX Transition – Enhancements to Bulk Payments The Adhoc template for Cross-border Payments, as well as the Cross-border Payments type within the Adhoc Mixed Payments template, now support payee addresses in structured, hybrid, or unstructured formats.

All supported templates for Cross-border Payments, including the Cross-border Payments type in the Mixed Payments template, now also support the capture of purpose-of-payment codes, extended MX-supported character set, and unstructured remittance information in accordance with the MX standard.
Verification of Payee (VoP) Support for SEPA Domestic Payment Region To support regulatory compliance, SEPA Payee Verification (VoP) support is now available in OBDX for domestic payments.
  • Configurable Enablement: Banks can enable or disable SEPA VoP, configurable from the backend.
  • User Experience: When enabled, a Payee verification link appears for domestic payee create/edit and domestic payment initiation for new payee. Retail and corporate users trigger VoP checks, which validate payee details (BIC, IBAN, account name) via the payment processor and display results: Match, Close Match, No Match, or Error.
  • Auditability & Outcomes: VoP outcome are stored and displayed to the user while making payment and on payee management screens. VoP outcome is also sent to the payment processor when a payment is initiated.
  • If Not Enabled: No impact to existing workflows; traditional behaviour continues.
  • Bulk File Uploads:
    • Record level Approval - Payments to saved payees: Existing VoP status stored in OBDX is transmitted to the Payment Processor.
    • Record-Level Approvals - Payments to Ad-hoc Payees: The Payment Processor performs VoP validation according to its configured rules during individual payment processing.
    • File Level Approval - The Payment Processor performs VoP validation according to its configured rules during individual payment processing.
    • VoP is not triggered for beneficiaries created via file uploads; these payees are stored in OBDX as Payee 'Not Verified. Users can choose to verify these payees by accessing the 'Modify/Edit Payee' option within the system.
  • Pre-qualified with OBPM.
Confirmation of Payee (CoP) Support for UK Payments Auditability & Outcomes: CoP outcome is stored and displayed to the user while making payment and on payee management screens.
Enhancement to Fetch Payee Name for India Region OBDX is enhanced to support Fetch Payee Account Name for domestic payments for India region.
Key Features:
  • Configurable Enablement: Banks can enable or disable fetch payee from the backend.
  • User Experience: When enabled, a Payee verification link appears for domestic payee create/edit screen and domestic payment initiation to new payee. Retail and corporate users can fetch the payee using the payee verification link.
  • Auditability & Outcomes: Fetch payee outcome is stored and displayed to the user while making payment and on payee management screens.
  • If Not Enabled: No impact to existing workflows; traditional behaviour continues.
Domestic & Cross Border Payments Enhanced to Support LEI Code Added support for capturing Legal Entity Identifier (LEI) in domestic and cross-border payments to strengthen compliance with regulatory standards. Banks can configure this field from the backend configuration, if required.
New frequency “Four weekly” Added for Recurring Payments Introduced a new frequency option “Four Weekly”, providing users with the convenience of setting up recurring payments every four weeks.
Bulk File Upload Inquiry - Enhanced Status Labels File Uploads Inquiry is enhanced with the updated file status labels and their corresponding narratives within the application to improve clarity and user understanding throughout the file processing lifecycle.

Parent topic: Features and Enhancements