Payment Components presents new MEPS+ (SCRIPS) solution
MEPS+ is the real-time gross settlement system, which is owned and handled by the Monetary Authority of Singapore (“MAS”) and is now adopting the ISO20022 standard to replace the previous one, based on Swift MT.
MEPS+ (SCRIPS) is the new ISO20022-based standard put forward by the Singapore Central Real-time Integrated Payment and Securities settlement system.
Adding to the list of payments that are currently offered within the FINaplo Financial Messages solution, including FedNow and P27, the MEPS+ (SCRIPS) promises to remove the burden of adopting the new protocol for all banks in the area. Our Financial messaging libraries have been continuously being chosen by the biggest FIs on the planet for more than 25 years.
The FINaplo Financial Messages solution is offered as an embedded SDK that banks can integrate into their payments application and allow them to build, validate and parse their MEPS+ (SCRIPS) messages. Additionally, an online service, which is also available via APIs for message validation, is offered, which can expedite the testing processes for the messages of this new ISO20022-based payment scheme. Now banks in Singapore can build, parse, validate and test their MEPS+ (SCRIPS) messages with the help of our ready-to-use code and start working for the new age of payments.
PaymentComponents is a global B2B solution provider for the Payments and Open Banking space. We provide open and light software components in payments, financial messaging, and open banking that can transform your business. Our solutions are the necessary ingredients for more than 60 Banks and Financial Institutions spread across 25+ countries to help them innovate and become digital champions.