SWIFT, the standardisation organisation for the global payments industry and operator of the most important global communication network for financial messages, has published a roadmap to implement one of the most important changes in the area of payment transactions in recent decades to replace the existing Swift MT messages type 1, 2 and 9 over a period of three years, starting in November 2022 and ending in November 2025. The message type MT, which has been used in the world of payment transactions for decades, will be replaced by the message type MX based on ISO 20022 XML. In fact, this means no more than a change of paradigms in the world of payment transaction formats, offering companies many advantages. Following the market infrastructures in Switzerland, Japan and China, the clearing systems for all other important currencies in the world will now also convert to ISO 20022 in the coming years. While Target2 will already adopt the new ISO standard in November 2022, Chaps in Great Britain will take a step-by-step approach from June 2022 to February 2023. In the US, it is assumed that Fed and Chips will migrate to ISO 20022 in November 2023 with a “big bang approach”.