Purpose Code
ISO 20022 Purpose element, business classification of a payment.
Definition
Purp/Cd states the actual reason for an end-to-end payment (between payer and payee), distinct from CtgyPurp which is intended for the banks. Values such as SALA (salary), SUPP (supplier), GDDS (goods) and RENT (rent) come from the external ExternalPurpose1Code list. Carried in pain.001 and pacs.008.
Origin
Codes defined in the ISO 20022 External Code Sets, published and maintained quarterly by the Registration Management Group under ISO TC 68/SC 9.
Example in context
<Purp><Cd>SALA</Cd></Purp>