Regulation (EU) No 260/2012 has made the use of the ISO20022 XML message standard mandatory: i) between payment service providers; and ii) for the bundled transmission of credit transfers and direct debits in euro between business users and their payment service providers; micro-enterprises (with less than ten staff members and a turnover or a balance sheet total of up to €2 million) and CONSUMERS are not SUBJECT to this requirement.

MEMBER States may waive this requirement until 1 February 2016. Information regarding those Member States that have opted for this waiver can be found on the websites of the European Commission and the European Central Bank.

Regulation (EU) No 260/2012 has made the use of the ISO20022 XML message standard mandatory: i) between payment service providers; and ii) for the bundled transmission of credit transfers and direct debits in euro between business users and their payment service providers; micro-enterprises (with less than ten staff members and a turnover or a balance sheet total of up to €2 million) and consumers are not subject to this requirement.

Member States may waive this requirement until 1 February 2016. Information regarding those Member States that have opted for this waiver can be found on the websites of the European Commission and the European Central Bank.