Australian Payments Plus welcomes the release of BIS CPMI harmonised ISO 20022 data requirements in seeking to achieve more efficient, lower-cost cross-border payments

18 October 2023

Australian Payments Plus (AP+), which manages the New Payments Platform, welcomes the publication today by the BIS Committee on Payment and Market Infrastructures (CPMI) of harmonised ISO 20022 data requirements for cross-border payments (“CPMI ISO 20022 data requirements”).

AP+ supports the view that global adoption of these data requirements will help to reduce inefficiencies along the cross-border payment chain due to misaligned message flows and inconsistent data usage.

Seeking to harmonise to the CPMI ISO 20022 data requirements will enhance cross-border payment messages through increased straight-through-processing, helping the G20 achieve its cost, speed and transparency targets for cross-border payments.

In support of greater harmonisation, AP+ will review how it may align its ISO 20022 message usage guidelines with the CPMI ISO 20022 data requirements ahead of the end-2027 timeline stated in the CPMI report. This will help realise the full benefits of harmonisation for end users around the world. AP+ is also focused on delivery of its International Payments business service that will support the processing of incoming cross-border payments in real-time.


AP+ acknowledges the Gadigal People of the Eora nation as the Traditional Custodians of the lands on which we are based and pays our respects to Elders past, present and emerging. We recognise all Aboriginal and Torres Strait islander peoples ongoing connection to the lands and waters of Australia and thank them for protecting and for their pivotal role in the creation of this beautiful place. Always was and always will be Aboriginal Land.

View our Reconciliation Action Plan

©2023 Australian Payments Plus. ABN: 19 649 744 203  All rights reserved

Back to top Arrow