IPSL Kenya transitions from 8583 to ISO 20022 for Instant Payments
IPSL is working with XMLdation of Finland to help banks join IPSL’s new ISO20022-based Instant Payments System, while ensuring full continuity of service on the current 8583 based Instant payment scheme.
With XMLdation’s Bridge solution, IPSL can proceed with the retirement of its legacy instant payments system, while allowing banks to transition from ISO8583 to ISO20022 message formats in their own time.
XMLdation has been wonderful to work with throughout the process, and their team has been supporting IPSL with a unique combination of technical and market expertise with respect to ISO20022, and the payments domain. XMLdation’s understanding of IPSL use cases, and their help in designing the architecture of the entire system, has ensured that the whole solution bridging the 2 schemes will be sustainable from a technical perspective, and will allow seamless migration for banks who remain on 8583.
About IPSL Kenya:
IPSL Kenya is the home of PesaLink, the inter-banking money transfer service that allows customers to send money from one bank account to another bank account in real time on all banks’ retail payment channels including mobile, ATM, Internet banking, Agency, Bank branches and POS.
XMLdation is a world leader in financial messaging. XMLdation delivers testing and legacy bridge solutions that streamline on-boarding, and help banks and clearers roll out new payment schemes and adopt new formats – faster and easier.