15.5 Purpose of Payment
This topic describes the information about Purpose of Payment workflow.
Banks can now maintain purpose codes from the backend for international payments.
Users can select a purpose code from a new dropdown Purpose - displaying both the
purpose code and the description - when making international payments from below screens
–
- Transfers – Existing Payee
- Transfers – Adhoc Payee
- Repeat Transfers – Existing Payee
- International Low Value Payment
- Multiple Transfers
Note:
Purpose code maintenance has also been extended to domestic payments, enabling banks to customize domestic payment screens to include the purpose of payment field when required.