Skip to content
ABBL Logo
Switch to consumers

Payments

As the financial industry evolves toward real-time, cross-border, and digital-first solutions, payment standards form the critical infrastructure that enables secure, seamless, and interoperable transactions. The ABBL plays a pivotal role in shaping, implementing, and coordinating payment standards across Luxembourg’s financial sector.

Through advocacy, coordination, and technical expertise, the ABBL ensures that banks and payment service providers are well-positioned to comply with evolving standards, innovate confidently, and remain competitive in a rapidly transforming payment landscape.

The Payment Standards Toolbox

In Luxembourg, banks have mandated the ABBL to define the IBAN/BIC codes for all banks in Luxembourg and to create and manage SCIs at the request of a creditor bank. We also provide guidelines for all types of XML messages.

Acting as a National Focal Point for Standards Implementation

The ABBL acts as Luxembourg’s central coordination platform for the adoption and deployment of domestic and international payment standards. This includes:

  • Supporting the implementation of SEPA standards (credit transfers, direct debits, instant payments).
  • Promoting ISO 20022 migration for interbank and customer-to-bank payments.
  • Facilitating compliance with EU regulations, such as PSD2 and the upcoming PSD3, as well as the Instant Payments Regulation.
  • Engaging on request-to-pay, e-invoicing, and digital euro initiatives.

The ABBL works closely with members, regulators, and infrastructure providers to ensure harmonised, future-ready adoption of these frameworks.

“Payment standards are the invisible backbone of finance—ensuring that transactions remain secure, seamless, and trusted across borders.”

Galina Miroshnichenko

Adviser – Payments & Digital, ABBL

Representing the Luxembourg Payments Sector at European and Global Levels

The ABBL serves as Luxembourg’s voice in key standardisation and regulatory discussions, acting as a liaison between:

  • Member institutions (banks, PSPs, payment FinTechs).
  • National authorities, including the CSSF and the BCL.
  • European institutions such as the European Payments Council (EPC), Euro Retail Payments Board (ERPB), and European Commission.
  • International standard-setting bodies like SWIFT and ISO Technical Committees.

Through active participation in these forums, the ABBL defends the interests of its members, contributes to technical harmonisation, and helps shape future payment ecosystems.

Facilitating Knowledge Sharing and Technical Readiness

To support smooth implementation of new standards, the ABBL provides:

  • Practical guidance and documentation on technical specifications and compliance requirements.
  • Working groups and expert clusters where members can discuss use cases, challenges, and integration.
  • Information sessions, webinars, and workshops focused on key developments in payment technologies and infrastructure.
  • Surveys and consultations to align sector priorities and reflect member perspectives in standard-setting discussions.

This ensures that ABBL members are not only compliant, but also strategically aligned with the future direction of payments innovation.

Supporting Innovation and Digital Transformation in Payments

As digitalisation reshapes how individuals and businesses pay, the ABBL encourages the development of modern, resilient, and user-friendly payment solutions. Through its involvement in open banking, instant payments, and FinTech integration, the ABBL helps members:

  • Explore API-based payments and new interface models.
  • Evaluate the potential of DLT, tokenised payments, and programmable money.
  • Participate in digital euro readiness discussions.
  • Understand the implications of embedded finance and non-bank PSPs.

The ABBL serves as both a compliance guide and an innovation enabler in this fast-moving field.

Galina Miroshnichenko

Galina Miroshnichenko

Adviser – Payments & Digital, ABBL

Email LinkedIn Profile