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as an average joe, I'm curious about how all this works / what else you need to make it work (what's a banking partner, etc?)
by yawnxyz 2y ago
as an average joe, I'm curious about how all this works / what else you need to make it work (what's a banking partner, etc?)
- toomuchtodo 2y agoRelevant subthread: https://news.ycombinator.com/item?id=36805571 https://news.ycombinator.com/item?id=36805571
- svapnil 2y agothanks for sharing - this is really helpful context. ISO20022 is the XML standard to send payment instructions, and this library conveniently exposes it's models in Typescript format. It seems like understanding what ISO20022 is is super important, so I'll spend some effort educating people on what this is
- toomuchtodo 2y agoAdditional context below that might be helpful for educational purposes. https://evrim.zone/blog/knowledge/iso_20022_pain_001 https://evrim.zone/blog/knowledge/iso_20022_pain_001 https://news.ycombinator.com/item?id=36810744 https://news.ycombinator.com/item?id=36810744
- svapnil 2y agothanks for the feedback. companies that need to programmatically send payments via bank need a corporate bank account that allows them to send programmatic payment instructions. i'll make this more clear in the docs!
- cess11 2y agoIt's basically a collection of API standards for common messages to and between financial institutions. If you need to communicate a lot with your bank or banks generally, then you'll probably automate it through this standard, at least in Europe, I'm not sure about adoption elsewhere. Things like reading accounts, registering transactions, stuff like that. You can, for example, build a background job that does monthly consolidation of accounts against a pile of payment providers your customers use. If you enjoy SOAP you'd feel right at home and likely have better tooling foundations already, if you don't you probably want a library like this one, at least when they've implemented SEPA support.