There are two circumstances in which a payment reversal may be required:
- Subject to the dispute window specified in the Nexus Scheme Rulebook (to be defined in the next phase of this work) a Source PSP may request the return of a previously completed Nexus payment. This request may be made if the original payment turns out to have been made in error, duplicated or fraudulent (for example).
- A payment reversal may also be needed when the Destination PSP originally responded with the status
ACWP(Accepted Without Posting) but is unable to resolve the payment within the time defined in the Nexus SLA. (In this case, Steps 1-2 are redundant and will be skipped.)
The process for reversals is as follows:
- The Source PSP must submit a
camt.056 FItoFIPaymentCancellationRequestto the Source IPS referencing the original
camt.056will include the reason for the cancellation in the
/Document/FIToFIPmtCxlReq/TxInf/CxlRsnInf/Rsn/Cdelement, using the ExternalCancellationReason1Code from the ISO 20022 External Code Set. Possible values are:
Other ExternalCancellationReason1Codes may also be used, but PSPs should ensure they are familiar with at least the set above.
camt.056will be forwarded by the Source IPS to the Nexus Gateway, and in turn to the Destination PSP.
camt.056message specs are available at [LINK TO FOLLOW].
Within the time allowance defined in the Nexus Scheme Rulebook, the Destination PSP must reply with a
camt.029 ResolutionOfInvestigationmessage with the following status:
- If the Destination PSP is willing to return the payment:
- The status element (
/Document/RsltnOfInvstgtn/Sts/Conf/) element should be set to a ExternalInvestigationExecutionConfirmation1Code from the ISO 20022 External Code Set, such as:
CNCL– confirming the payment has been cancelled and the funds will be returned as requested
- If the Destination PSP is not willing to return the payment:
- The status element (
/Document/RsltnOfInvstgtn/Sts/Conf/) element should be set to a ExternalInvestigationExecutionConfirmation1Code, such as:
RJCR– the cancellation request has been rejected
- The reason code for the rejection (
/Document/RsltnOfInvstgtn/CxlDtls/TxInfAndSts/CxlStsRsnInf/Rsn/Cd/) element should be set to an ExternalPaymentCancellationRejection1Code from the ISO 20022 External Code Set. Examples include:
CUST(CustomerDecision to refuse the return)
camt.029message specs are available at [LINK TO FOLLOW].
The Destination PSP must now submit a
pacs.004 PaymentReturnmessage to the Destination IPS. This will be processed in a similar way to the
pacs.008, but in reverse, so that the funds are returned to the Source PSP and will be re-credited to the Sender.
Full pacs.004 message specs are available at [LINK TO FOLLOW].