General Changes

Namespace
The target namespace for the schema has changed. In instance documents this will be reflected in the namespace of the root ISFMessages element, and also the namespace of the transaction data element (substitute for isf:Transaction). The Base namespace is:
ISF Version 2
urn:www.ibm.com:software:epp:isf:v2_0
ISF Version 3
http://www.ibm.com/xmlns/prod/ftm/isf/v3
Organization of Schemas
The overall organization of the schemas has not changed, but the set of schema files has changed.
Updated business components
All business components now reflect the latest ISO Repository (R8.0.0.1 published in November 2011). Many components have been replaced or re-structured, and many new components have been added. For more information, refer to the ISO 20022 website.
Element Ordering
The order of the Children of all the business components has not changed since ISF Version 2. The ISF orders elements alphabetically within complex types.
Complex Type Definitions
The complex type definitions for business components reflect where one Component is an extension of another component, for example, Organisation extends Party. Many existing business components have been revised in the ISO 20022 repository, resulting in a refactoring of the hierarchy and content of the business components. This also has an influence on the order of the child elements within the complex type definitions (and any compliant instance documents).
ISF For Payments
In the ISFForPayments_v3.xsd extension, the transaction data elements CreditTransfer and DirectDebit replace the transaction data element Payment.