Create Real-Time Payments File

To create a Real-Time Payments (RTP) file using different formats such as ISO 20022, XML, CSV, and JSON, here’s a breakdown of how to generate files in each format for Real-Time Payments using the right coding structures.

1. ISO 20022 (XML-based)

ISO 20022 is the global standard for financial messages, especially used in systems like FedNow or SWIFT. The message type for Real-Time Payments under ISO 20022 could be pain.001 for customer-initiated payments or pain.013 for requests for payment.

Example: Creating a Payment Instruction in ISO 20022 XML Format (pain.001)

<?xml version="1.0" encoding="UTF-8"?>

<Document xmlns="urn:iso:std:iso:20022:tech:xsd:pain.001.001.03">

  <CstmrCdtTrfInitn>

    <GrpHdr>

      <MsgId>RTP123456789</MsgId>

      <CreDtTm>2023-09-13T10:00:00</CreDtTm>

      <NbOfTxs>1</NbOfTxs>

      <CtrlSum>100.00</CtrlSum>

      <InitgPty>

        <Nm>Sender Name</Nm>

      </InitgPty>

    </GrpHdr>

    <PmtInf>

      <PmtInfId>Payment123456</PmtInfId>

      <PmtMtd>TRF</PmtMtd>

      <BtchBookg>false</BtchBookg>

      <NbOfTxs>1</NbOfTxs>

      <CtrlSum>100.00</CtrlSum>

      <PmtTpInf>

        <SvcLvl>

          <Cd>SEPA</Cd>

        </SvcLvl>

      </PmtTpInf>

      <Dbtr>

        <Nm>Debtor Name</Nm>

        <PstlAdr>

          <Ctry>US</Ctry>

        </PstlAdr>

      </Dbtr>

      <DbtrAcct>

        <Id>

          <IBAN>US123456789012345678</IBAN>

        </Id>

      </DbtrAcct>

      <Cdtr>

        <Nm>Creditor Name</Nm>

        <PstlAdr>

          <Ctry>US</Ctry>

        </PstlAdr>

      </Cdtr>

      <CdtrAcct>

        <Id>

          <IBAN>US987654321098765432</IBAN>

        </Id>

      </CdtrAcct>

      <Amt>

        <InstdAmt Ccy="USD">100.00</InstdAmt>

      </Amt>

    </PmtInf>

  </CstmrCdtTrfInitn>

</Document>

2. XML Format (Non-ISO 20022)

If you are working with a more simplified XML format for Real-Time Payments, here’s an example that can be customized as per your payment system:

<?xml version="1.0" encoding="UTF-8"?>

<RealTimePayment>

  <Transaction>

    <TransactionID>RTP12345</TransactionID>

    <Amount currency="USD">100.00</Amount>

    <Sender>

      <Name>John Doe</Name>

      <AccountNumber>123456789</AccountNumber>

    </Sender>

    <Receiver>

      <Name>Jane Smith</Name>

      <AccountNumber>987654321</AccountNumber>

    </Receiver>

    <PaymentDate>2023-09-13</PaymentDate>

  </Transaction>

</RealTimePayment>

3. CSV Format

A CSV (Comma Separated Values) format is a simple format where the payment details are stored as rows of data.

Example: CSV Format for Real-Time Payment

TransactionID,SenderName,SenderAccountNumber,ReceiverName,ReceiverAccountNumber,Amount,Currency,PaymentDate

RTP12345,John Doe,123456789,Jane Smith,987654321,100.00,USD,2023-09-13

In this case, you can easily import/export this CSV file from various financial systems.

4. JSON Format

JSON (JavaScript Object Notation) is commonly used in web-based systems and API-driven integrations.

Example: JSON Format for Real-Time Payment

{

  "RealTimePayment": {

    "TransactionID": "RTP12345",

    "Amount": {

      "currency": "USD",

      "value": "100.00"

    },

    "Sender": {

      "Name": "John Doe",

      "AccountNumber": "123456789"

    },

    "Receiver": {

      "Name": "Jane Smith",

      "AccountNumber": "987654321"

    },

    "PaymentDate": "2023-09-13"

  }

}

Key Considerations:

• ISO 20022 XML is the standard for financial messaging in real-time payments. Use this for official payment networks like FedNow or SWIFT.
• CSV and JSON are simpler formats that are often used for easy data exchange between systems, especially if the financial system does not require strict adherence to ISO standards.
• XML (Non-ISO 20022) is used when a more flexible XML schema is acceptable, particularly in smaller networks or custom payment systems.

How to Implement:

• Integration with Financial Systems: Most payment platforms, such as QuickBooks, banks, or custom financial systems, can process these formats depending on their capabilities.
• APIs: If you’re sending these formats to a real-time payment platform, ensure you’re using the platform's API or secure file transfer method.

Let TodayPayments.com know if you need more specific details or help integrating these formats into your system!