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Bankgiro, the widely used Swedish payment format, is being phased out by 2026.
To become compliant and avoid disruptions, businesses must adapt to the new payment format, ISO 20022 XML.
Aritma simplifies the process, providing a hassle-free solution for your business – no matter the size or industry.
Aritma Pay is a conversion solution, acting as a bridge between your accounting system and your online bank. It seamlessly converts outdated payment formats like Bankgirot to the new ISO 20022 XML-standard.
This allows you to continue using the Bankgirot format, while Aritma Pay manages all the conversion and communication with the bank.
No need for manual file uploads.
Your system
ERP
Payroll system
Other expert systems
Bankgiro
ISO 20022 XML
Your bank
Payment delays
Operational disruptions
Potential compliance risks
Automated file conversion – No manual adjustments needed
Minimal IT effort – No extensive system changes required
Ensured payment continuity – Avoid service disruptions
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1. Assessment
Contact us to evaluate your current payment setup. We initiate a brief meeting where we assess your needs and discuss the optimal timeline for implementation.
2. Installation
We schedule a time for installation and send test payments to ensure everything is functioning as intended.
3. Go Live
Aritma Pay now communicates seamlessly with the bank and your accounting system, managing the new ISO 20022 XML format on your behalf. You can continue your work as usual while we handle the rest.
Aritma Pay is the ideal solution for businesses seeking a seamless transition from Telepay to the new ISO 20022 XML-standard.
It allows for easy conversion between Telepay and ISO 20022 without the need to upgrade existing payment systems, ensuring a smooth and straightforward switch for businesses.
Beyond converting from Telepay to ISO 20022, Aritma Pay also offers standardized bank integration and automated accounting by streamlining manual payment processing routines.
Telepay is a standard file format for remittance (transfer of payment information) between, for example, accounting systems and banks. The file format is a Norwegian standard that can be used for both domestic and international payments.
Developed in the late 1980s, Telepay has historically been Norway’s most widespread payment format. With the adoption of ISO 20022 as the new standard, the management of Telepay by banks and Bits has ceased, leading to its discontinuation on various dates by different banks.
Norwegian banks have set an end-date for Telepay:
DNB: March 31, 2024
SEB: June 1, 2024
Nordea: June 30, 2024
Sparebank 1: October 1, 2024
Many large companies still use Telepay, especially those with on-premise ERP systems or specialized systems supporting payment processing. These systems can be challenging to maintain and upgrade.
If you don't yet have a plan for transitioning to ISO20022, time is of the essence.
The financial industry is moving towards more modern and standardised payment solutions. The shift to ISO 20022 XML aims to improve efficiency, data quality, and interoperability across banking systems.
As a result, Bankgirot will be discontinued, and businesses must transition to the new format before the deadlines in 2026.
Bankgiro is a payment system used in Sweden to facilitate transactions between businesses, organisations, and individuals through banks. It enables secure, efficient payments and automated settlements, reducing the need for manual processing.
Each recipient has a unique Bankgiro number, which serves as a link between the payee and their bank account. When a payment is sent to a Bankgiro number, the amount is automatically transferred to the correct account, regardless of the recipient’s bank.
Bankgiro is commonly used for invoice payments, salary disbursements, and other business-related transactions.
Your business may face payment disruptions, manual processing, and compliance issues with your bank.
ISO 20022 XML is an international standard for electronic data interchange between financial institutions. It is much more flexible and detailed than older standards like Bankgiro and Telepay.
It also allows for a more comprehensive description of payment transactions, which improves data quality and provides better opportunities for automation and analysis.
ISO 20022 XML supports a wider range of transaction types and can be adapted to various needs across global markets.
No, our solution works with your existing bank and accounting setup.
The phase-out of bankgiro is happening gradually during 2026. However, Swedish banks will set their individual deadlines before the final cut-off. Contact your bank for more information about their deadline.
Bankgirot is the organisation that operates the Bankgiro system in Sweden, ensuring payments are processed securely and efficiently through banks and financial systems.
Bankgiro refers to the actual payment system and number structure used to identify payments.
Costs vary depending on your needs. Contact us for a tailored quote.
Many large companies still use the Bankgirot payment format - especially those with on premise accounting systems. If you don´t have a plan for transitioning to ISO 20022 XML, time is of the essence.
ISO 20022 XML provides improved data quality, more detailed transaction information, better opportunities for automation and analysis, and increased efficiency in payment processes.
Aritma Pay helps businesses shift from bankgiro to the new payment standard without major system changes.
The automated conversion ensures minimal effort from your side while keeping your payment processes running smoothly.
Register your details and let’s show you the value of automatic conversion.
Aritma AS is a licenced PSD2 provider through the Norwegian Financial Authority (Account Information Service Providers).
