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Aritma Pay
With Aritma Pay, over 100 Norwegian businesses are already prepared for the transition without having to change their ERP system.
Norwegian banks are moving towards a complete transition to SEPA (Single Euro Payments Area) where the new format is ISO 20022 XML. In other words, Telepay will soon be deprecated.
Banks like DNB, Nordea, Sparebanken 1, and SEB have set a deadline in 2024.
It is crucial to take action now, as the process can be time-consuming, and it is advisable to complete the transition in time for the spring of 2024.
March 31, 2024
June 30, 2024
October 1, 2024
June 1, 2024
Get a guide on successfully transitioning from Telepay to ISO 20022 XML without changing your accounting system.
Enter your email address and download the whitepaper now!
Aritma Pay serves as a conversion service, acting as a bridge between your business and the bank. It seamlessly converts outdated payment formats like Telepay to the new ISO 20022 XML-standard.
This allows your business to continue using Telepay while Aritma Pay manages all the conversion and communication with the bank.
Your system
ERP
Payroll system
Other expert systems
Telepay
Bankgirot
ISO 20022 XML
Open Banking API
Your bank
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Effortless and automatic conversion of file formats.
Approve and manage payments from all your banks through the Aritma Pay Portal.
Automatically close open entries with return files from the bank, pre-formatted for your system.
Keep sensitive information secure and prevent misuse of data.
Reduce human errors in manual handling of payment files, ensuring payments are delivered in the correct format to the bank.
Achieve high data quality in all communications with your banking partners.
Small
From:
NOK 4.500 / month
Includes:
1.000 Outgoing payments / month
1.000 Incoming payments / month
Email and Phone Support 08:00-16:00
Excess transactions:
NOK 2,50 / Outgoing payment
NOK 2,50 / Incoming payment
Medium
From:
NOK 7.000 / month
Includes:
2.500 Outgoing payments / month
2.500 Incoming payments / month
Email and Phone Support 08:00-16:00
Excess transactions:
NOK 2,00 / Outgoing payment
NOK 2,00 / Incoming payment
Large
From:
NOK 10.750 / month
Includes:
5.000 Outgoing payments / month
5.000 Incoming payments / month
Email and Phone Support 08:00-16:00
Excess transactions:
NOK 1,75 / Outgoing payment
NOK 1,75 / Incoming payment
1. Introduction meeting
We initiate a brief meeting where we assess your needs, familiarize ourselves with your systems, and discuss the optimal timeline for implementation.
2. Installation and testing
Once you have reviewed and approved our solution proposal, we schedule a time for installation and send test payments to ensure everything is functioning as intended.
3. You’re all set!
Aritma Pay now communicates seamlessly with the bank and your ERP system, managing the new ISO 20022 format on your behalf. You can continue your work as usual while we handle the rest.
Leave your contact information, and we'll get in touch with you to demonstrate the value that Telepay conversion can bring to your business.
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.
Telepay is an older standardized format used to send payment instructions between banks and financial institutions (ex. accounting systems).
It is known for being simple but has limitations in terms of data capacity and flexibility.
Telepay is a Norwegian file format, developed in the 1980s. Today it is mostly used in specific geographic areas and is now being phased out.
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.
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 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.
Telepay is being phased out because it is an older technology with limited capacity and flexibility. ISO 20022 offers better interoperability, more detailed transaction information, and greater efficiency.
The timeline can vary depending on the region and institution, but it is important to start the transition early to avoid disruptions in payment processes.
Many Norwegian banks have already set an end-date for Telepay format:
DNB: March 31, 2024
SEB: June 1, 2024
Handelsbanken: Junne 1, 2024
Nordea: June 30, 2024
Sparebank 1: October 1, 2024
If your business does not upgrade, it may face increased costs, inefficiencies, and the risk of being unable to process payments correctly when Telepay is phased out.
The transition to ISO 20022 XML will likely improve payment flow, reduce the risk of errors, and give your business access to more advanced financial services and analytical tools.
ISO 20022 XML provides improved data quality, more detailed transaction information, better opportunities for automation and analysis, and increased efficiency in payment processes.
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.
Payment processing refers to the process of transferring money from a payer to a recipient. This includes both domestic and international transactions and involves banks, payment systems, and other financial institutions that act as intermediaries to ensure the secure and efficient transfer of funds. Payment processing encompasses the use of various payment instruments such as electronic transfers, credit cards, debit cards, checks, and increasingly, digital and mobile payments.
Aritma AS is a licenced PSD2 provider through the Norwegian Financial Authority (Account Information Service Providers).
