Payment messages are the ISO 20022 messages (pacs.008, pacs.009 (/COV) and pacs.004) submitted to Bank of England for CHAPS settlement. Given a FullPaymentMessageId, this API allows the consumer to retrieve a specific payment message in raw format (base64 encoded). For Participants to retrieve the full payment message in the raw format, as received by BoE via InterAct service, they have to use the Settlement Instruction ID retrieved from Transactions API. Refer to Transactions API for further information.
For a participant that is the 'Credit To' party, the Full Payment Messages API will allow to retrieve the “inbound CHAPS payment messages” for settled transactions. For participant that is the 'Debit From' party, the Full Payment Messages API will allow to retrieve the “outbound CHAPS payment messages” for all transactions irrespective of status.
CHAPS is the UK’s electronic payment system for high value and systemically important transactions which settle across the Bank’s Real Time Gross Settlement System,thereby achieving irrevocable finality at the point of settlement. Payment obligations between direct participants are settled individually on a gross basis in RTGS on the same day that they are submitted. For more detailed information on CHAPS, visit the CHAPS section of the Bank of England's main website.
Participants can access the latest ISO 20022 schema of the CHAPS payment messages through the Swift MyStandards portal. Refer to the table below for details.
Full Payment Message API Use Cases & Benefits
- Ability to retrieve full payment message details
- Ability to automate the Payment message analysis and reporting
- Ability to identify payment messages tampering
- Fuels innovation
- Reduction of manual effort
- Cost saving
- Integrated user experience
Supported Developer Toolkit:
Bank of England RTGS APIs will be supported by Swift Microgateway and Swift SDK. Both solutions, provided by Swift, offer access to the APIs. Bank of England hosts a reference implementation based on Swift Microgateway and we can help you start with the API connectivity using this option.
If you are already a user of any of these solutions, just download the API Specification and follow the Swift recommended steps to import it into your implementation.