Payments Standards Evaluation Group

Scope of the Payments SEG

The scope of the Payments SEG includes the messages supporting transactions and business processes related to the following non exhaustive list of financial instruments:

Credit transfers
Direct debits
Cheques

The business areas include

Payment initiation: communications between the ordering customer and its bank, etc.
Clearing and settlement: interbank transfers via correspondent banking or ACHs, high value payments, low value bulk payments, RTGS, etc.
Cash management between the various actors: account opening, standing orders, transaction and account information, advices and statements from account servicing institutions to account owners along the processing chain, including reporting to the ordering customer and beneficiary customer, reconciliation, exceptions and investigations handling.

The actors involved include

Private and corporate customers
Financial institutions
Central banks
Clearing houses and RTGS systems
Payment factories

SEG leadership team

Convenor: Mr. Peter Hoogervorst
Vice convenors: Mr. Neil Buchan and Mr.Isak Penttila
Secretary: Ms. Aurelie Steeno

Experts

Consult the list of registered experts