ISO 20022

ISO – Independent Sales Org. A third party payment processing company that handles merchant accounts for a bank, payment processor or large financial institution.
ISO (International Organization for Standardization) 20022 – Standard for electronic data interchange between financial institutions. ISO20022 talks. A global financial messaging standard that will standardize the data structure for financial messaging for today’s real-time payments world. ISO 20022 will deliver a new rich-data format for payments, empowering organizations to share information across a variety of financial services applications and allow for the development of digital overlay services.