Enhancement to cac:PaymentMeans to Support Global Payment Method Identification and Emerging Payment Types

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    • Type: Improvement
    • Resolution: Applied
    • Priority: Major
    • Component/s: None
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      Add the following elements to cac:PaymentMeans core (not as an extension), preserving backward compatibility by making them optional:

      1) cbc: PaymentMethodSubtype - refines PaymentMeansCode to specify ACH/SEPA subtypes or other instruction variants.

      2) cbc:  PaymentRail - Identifier for the payment infrastructure (e.g. FedNow, SEPA, SWIFT, ACH)

      3) cac: PaymentPlatform - details for third party or platform-based payments (e.g. paypal, alipay, stripe)

      cbc: PlatformName

      cbc: PlatformType

      cbc: PlatformReference

      4) cac: CryptoPayment - structured metadata for block-chain based payments

      cbc: TokenSymbol

      cbc: Blockchain

      cbc: WalletAddress

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      Add the following elements to cac:PaymentMeans core (not as an extension), preserving backward compatibility by making them optional: 1) cbc: PaymentMethodSubtype - refines PaymentMeansCode to specify ACH/SEPA subtypes or other instruction variants. 2) cbc:  PaymentRail - Identifier for the payment infrastructure (e.g. FedNow, SEPA, SWIFT, ACH) 3) cac: PaymentPlatform - details for third party or platform-based payments (e.g. paypal, alipay, stripe) cbc: PlatformName cbc: PlatformType cbc: PlatformReference 4) cac: CryptoPayment - structured metadata for block-chain based payments cbc: TokenSymbol cbc: Blockchain cbc: WalletAddress

      The Current UBL cac:PaymentMeans strcture and associated cbc: PaymentMeansCode do not provide sufficeient granularity to:

      Represent all payment method variants used in U.S., European, and other global markets (e.g. ACH subtypes such as CCD, CCD+, CTX, SEPA subtypes, instant payment schemes).

      Identify payment rails, platform-based payments, and emerging settlement methods such as stablecoins and digital tokens.

      Allow unambiguous semantic mapping to external code lists (ISO 20022 ExternalPaymentMeansCode, EN16931, X12, PEPPOL)

      This lack of granularity limits cross-border interoperability and hinders automated processing when documents cross networks or market boundaries.

            Assignee:
            Todd Albers
            Reporter:
            Todd Albers
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              Created:
              Updated:
              Resolved: