ISO 17415 is officially titled:
“Financial services — Retail financial services — Use of ISO 20022 for payment initiation by the payee via a QR code”
This standard defines the structure and use of QR codes for initiating payments, particularly when the payee (seller or service provider) generates the QR code for the payer (customer) to scan.
Key focus areas include:
The rise of QR code payments across mobile banking, UPI, contactless retail, and peer-to-peer apps has created a need for:
ISO 17415 addresses these challenges by providing a globally harmonized framework to ensure that payment QR codes are not just readable—but are secure, data-rich, and compatible across systems.
By adopting ISO 17415, payment service providers and merchants can:
Enable systems to accept and process QR code payments from any ISO-compliant service.
Use ISO 20022 structures to ensure encrypted, validated, and traceable payment requests.
Align with global frameworks to ensure consistency in domestic and cross-border transactions.
Facilitate seamless, one-scan transactions with real-time information retrieval.
Suitable for both one-time-use QR codes and static merchant display models.
Implementing ISO 17415 provides strategic and operational value for digital payment ecosystems:
Accept QR payments from a wider range of apps, wallets, and institutions.
Streamline onboarding with partners using a consistent ISO 20022 message structure.
Gain credibility with regulators, partners, and end-users by adopting a secure, standardized payment protocol.
Simplify compliance with international standards when expanding digital payment services globally.
Use structured data to support automated transaction processing and recordkeeping.
ISO 17415 supports scalable adoption of QR technologies in the evolving financial services ecosystem.
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