ALEXANDRIA, VA; LONDON; BRUSSELS – An agreement between Conexxus, the International Forecourt Standards Forum (IFSF) and nexo will provide the expertise to enhance the ISO 20022 standards to meet the needs of the convenience and fuel retailing industry. The recently signed agreement will also ensure that ongoing expert support will be on hand should the need arise for revisions in the future.
The agreement brings together the three leading organizations in their respective fields. Their goal is to minimize the impact of change from the current standards used by fuel retail site operators, banks and acquiring entities, oil companies and credit and debit card providers.
“Conexxus has been dedicated to the creation of data exchange standards for its North American membership for 25 years. Card payments represent 65% of our $700 billion annual industry turnover, making payments efficiency a critical requirement for our industry. This agreement will combine our mission and expertise with those of our partners, IFSF and nexo, to ensure global payments standards will be available for the petroleum and convenience retailer in this increasingly global market we compete in.” said Gray Taylor, executive director of Conexxus.
Ian Brown, president of IFSF, said: “IFSF has been successfully implementing payment and other standards used by thousands of site operators over many years across Europe and Asia. Our agreement with nexo and Conexxus is of significant benefit to the retail fuel and convenience store operators who may turn to ISO 20022 standards in the coming years. Our ongoing involvement in the drafting of future revisions of ISO 20022 will also ensure they continue to meet the sector’s business needs as the requirements evolve, bringing benefits to those using the standard.”
William Vanobberghen, secretary general of nexo, said: “This cooperation initiative between Conexxus, IFSF and nexo — all leaders in their respective domain as well as in the delivery of global standards — will ensure that the outcome of this common standardization process will meet the business needs of the card payment, convenience stores and petroleum industries, and this on a worldwide basis.”