Bank, bank account. Specs consider them broadly. A treasury is an account-keeping institution, so it is not distinguished from banks. E-money “purse” is also not opposed to a bank account. So it is considered as such, despite legal separation (however, only a bank may operate it). Nothing in specs allows illegal banking. Also, normal practice of accounting liabilities of each contractor – named account – is not considered “bank account”.
Payment system. I stick to the legal definition of a system of 3 or more banks, and infrastructure. Put another way, it is a bank for banks, some functions possibly out-sourced. Visa, MasterCard etc. satisfy this definition. Abuse of the term is not allowed.
E-money. Again, I stick to the legal definition, see above. Effectively, it is a bank operating outside of a payment system.
Cryptocurrency. It is form of money whose authenticity is approved using cryptography, rather than keeping by bank or similar institution. This includes both card cryptocurrency (not common cards!) and block chain (or equivalent network). For the purpose of specs, cryptocurrency is cash.
Not all instruments are available; cards are not supported at all. Also, separation is discriminatory, e.g. a payment order would be MT101, MT102, MT103, MT200, MT202 with no good reason why they are different document types.
This is most prominent example of XML abuse.This format inflates data about x100 times.
Note: XML must die. It is already dying...
While this is fairly well designed protocol, and XML here is not an abuse, it is too focused on particular payment system. They removed non-payment-system documents such as letter of credit from latest releases.
Undocumented; in practice, used only partially. It covers only one type of instruments (acquiring).
While BASE I is 8583-based, it is a somewhat different protocol. Neither of Visa specifications is published.
This is payment system specific, it covers only few types of instruments.
This protocol is not for payments; really, even INVOIC becomes useless.
Original principles, as stated and published:
Non-discrimination of all customers – business, non-business, other banks.
Note: the fact that non-business accounts do not have so convenient instruments as business was the very reason I ever started this project.
Use of single instrument between customer and bank, and between banks (in a payment system)
Compact text form for documents; NoXML.
Unification for all types of payment systems (RTGS, net clearing, etc.) and dispute resolution.
The specs are based on Russian Civil Code.