What is an ISO20022 PAIN (Payment Initiation) file?

In ISO20022 terminology, a PAIN (Payment Initiation) file is a payment initiation file that contains instructions for sending payments to a bank.

The most common XML format for PAIN files is pain.001.001.03. This format is currently supported by iso20022js.

One way to think of it is as a Payment Initiation API POST request. Instead of sending a REST API request to the bank, you must send a PAIN file, which contains instructions.

Read more about PAIN files here.

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