Mission Statement: The mission of the Retail Financial Transactions Committee is to promote development, adoption, and maintenance of efficient retail financial transaction solutions through global standards.
The parent committee is responsible for the Payment System Products Codes, Point to Point Encryption Specification, and in 2019 will be continuing work related to EMV Fleet Tags (in connection with USPF and IFSF) and an EMV Implementation Resource Guide for Petroleum.
In its NACS/Conexxus role, the Committee developed and maintains a set of standard Payment Systems Product Codes. These codes are used to identify the products sold in a credit card transaction and are primarily for the use of the acquiring host as contrasted with category management uses. These codes are getting worldwide adoption and have been endorsed by the US General Services Administration for its alternate fuels programs.
The Committee is working to develop a set of industry specific for case studies for P2PE. Both PCI P2PE validated and non-validated solutions are planned to be incorporated to demonstrate how P2PE works in convenience and retail fueling environment. From this effort, the Committee plans to update the Conexxus P2PE specification based.
In 2019 the Committee launched an effort to document how the Conexxus RFT specification work in conjunction and separately. The Integration and Interoperability effort will provide process diagrams and XML examples of how all Conexxus RFT specifications can work along side one another or as individual implementations.
The Committee and Working Groups solicit the active participation of retailers, suppliers, and CPGs. Retailers are especially needed to ensure that retail financial standards are moving in the direction that will best satisfy retailers' needs both now and in the foreseeable future. Additional supplier participation will ensure that the standards accurately reflect the capabilities of present and future systems. The industry will greatly benefit as the developed standards gain greater traction in the marketplace.
Active Working Groups:
- Digital Offers Working Group
- Electronic Payment Server (EPS) Working Group
- Loyalty Working Group
- Mobile Payments Working Group
- Gift Card Working Group
The Chair is Sharon Scace with WEX.
The Vice Chair is Chuck Young with Impact 21.