diff --git a/src/ois.test.ts b/src/ois.test.ts
index 3622c25..4e912d0 100644
--- a/src/ois.test.ts
+++ b/src/ois.test.ts
@@ -13,6 +13,7 @@ import {
   reservedParametersSchema,
   packageVersionCompatibleSemverSchema,
   fixedParameterSchema,
+  endpointSchema,
 } from './ois';
 import { version as packageVersion } from '../package.json';
 
@@ -717,3 +718,69 @@ describe('fixedOperationParameters', () => {
     expect(() => fixedParameterSchema.parse(valueWithObject)).not.toThrow();
   });
 });
+
+describe('processing specification', () => {
+  it('allows pre-processing and post-processing specifications with different version', () => {
+    const endpoint1 = { ...loadOisFixture().endpoints[0] };
+    endpoint1.preProcessingSpecifications = [
+      {
+        environment: 'Node',
+        timeoutMs: 5000,
+        value: 'output = input;',
+      },
+    ];
+    endpoint1.postProcessingSpecificationV2 = {
+      environment: 'Node',
+      timeoutMs: 5000,
+      value: '(payload) => payload;',
+    };
+    const endpoint2 = { ...loadOisFixture().endpoints[0] };
+    endpoint2.preProcessingSpecificationV2 = {
+      environment: 'Node',
+      timeoutMs: 5000,
+      value: '(payload) => payload;',
+    };
+    endpoint2.postProcessingSpecifications = [
+      {
+        environment: 'Node',
+        timeoutMs: 5000,
+        value: 'output = input;',
+      },
+    ];
+
+    expect(() => endpointSchema.parse(endpoint1)).not.toThrow();
+    expect(() => endpointSchema.parse(endpoint2)).not.toThrow();
+  });
+
+  it('throws when conflicting processing specifications are defined', () => {
+    const endpoint1 = { ...loadOisFixture().endpoints[0] };
+    endpoint1.preProcessingSpecifications = [
+      {
+        environment: 'Node',
+        timeoutMs: 5000,
+        value: 'output = input;',
+      },
+    ];
+    endpoint1.preProcessingSpecificationV2 = {
+      environment: 'Node',
+      timeoutMs: 5000,
+      value: '(payload) => payload;',
+    };
+    const endpoint2 = { ...loadOisFixture().endpoints[0] };
+    endpoint2.postProcessingSpecifications = [
+      {
+        environment: 'Node',
+        timeoutMs: 5000,
+        value: 'output = input;',
+      },
+    ];
+    endpoint2.postProcessingSpecificationV2 = {
+      environment: 'Node',
+      timeoutMs: 5000,
+      value: '(payload) => payload;',
+    };
+
+    expect(() => endpointSchema.parse(endpoint1)).toThrow();
+    expect(() => endpointSchema.parse(endpoint2)).toThrow();
+  });
+});
diff --git a/src/ois.ts b/src/ois.ts
index fcc9d34..646e360 100644
--- a/src/ois.ts
+++ b/src/ois.ts
@@ -276,6 +276,14 @@ export const processingSpecificationSchema = z
   })
   .strict();
 
+export const processingSpecificationSchemaV2 = z
+  .object({
+    environment: z.literal('Node'),
+    value: z.string(),
+    timeoutMs: nonNegativeIntSchema,
+  })
+  .strict();
+
 const ensureUniqueEndpointParameterNames: SuperRefinement<EndpointParameter[]> = (parameters, ctx) => {
   const groups = Object.values(groupBy(parameters, 'name'));
   const duplicates = groups.filter((group) => group.length > 1).flatMap((group) => group.map((p) => p.name));
@@ -320,12 +328,44 @@ export const endpointSchema = z
     preProcessingSpecifications: z.array(processingSpecificationSchema).optional(),
     postProcessingSpecifications: z.array(processingSpecificationSchema).optional(),
 
+    // Post-processing only supported processing value, but there are use cases for processing timestamp as well. With
+    // the original processing specification, users needed to assign processed value to a special output variable and
+    // the schema supported multiple snippets that are composed together which is not necessary. For further information
+    // see: https://github.com/api3dao/commons/issues/27.
+    //
+    // A new processing implementation is created that addresses all the previously mentioned issues. The schemas remain
+    // optional, for the same reasons as in the original implementation.
+    preProcessingSpecificationV2: processingSpecificationSchemaV2.optional(),
+    postProcessingSpecificationV2: processingSpecificationSchemaV2.optional(),
+
     // The following fields are ignored by Airnode
     description: z.string().optional(),
     externalDocs: z.string().optional(),
     summary: z.string().optional(),
   })
-  .strict();
+  .strict()
+  .superRefine((endpoint, ctx) => {
+    const {
+      preProcessingSpecificationV2,
+      preProcessingSpecifications,
+      postProcessingSpecificationV2,
+      postProcessingSpecifications,
+    } = endpoint;
+
+    if (preProcessingSpecificationV2 && preProcessingSpecifications) {
+      ctx.addIssue({
+        code: z.ZodIssueCode.custom,
+        message: 'Only one of "preProcessingSpecificationV2" and "preProcessingSpecifications" can be defined',
+      });
+    }
+
+    if (postProcessingSpecificationV2 && postProcessingSpecifications) {
+      ctx.addIssue({
+        code: z.ZodIssueCode.custom,
+        message: 'Only one of "postProcessingSpecificationV2" and "postProcessingSpecifications" can be defined',
+      });
+    }
+  });
 
 const ensureSingleParameterUsagePerEndpoint: SuperRefinement<{
   endpoints: Endpoint[];