If a company makes a repetitive payment, a Telco can use the historical payment to match and automatically apply a payment by reconciling between bank deposit and email.
Use Case Benefit: Faster payments processing
A Telco disburses refunds for multiple clients by submitting a bulk payments file to their financial institution. With ISO 20022 capability, each payment message can carry data on what the payment is for, including customer or invoice number and any adjustments (e.g., late payment fees).
A Telco sends a payment request using ISO 20022 request-to-pay functionality to a customer for their monthly bill. The customer accepts by clicking on a payment initiation link in the message. A payment instruction is auto-populated with remittance information (e.g., customer/invoice number) that was part of the original payment request message. Funds are immediately transferred…