The HVPS+ ISO 20022 Payments Interoperability Charter

The High Value Payment System Plus (HVPS+) group, whose mission is to drive best practices and proper usage of payment messaging standards for interoperability and harmonization across high value payment systems, has developed an ISO 20022 Interoperability Charter, which Payments Canada has declared support for.The charter outlines objectives and principles designed to enable evolution and interoperability of the ISO 20022 standard for high-value payments, to support efficiency, innovation and improved payment experiences for end-users. Elizabeth Leather of the Bank of England and Karl Lee of Payments Canada discuss how the charter was developed, who is using it and what it means for interoperability.