Petroleum and ISO20022


Presented by: Sharon Scace, WEX inc.

Sharon chairs the Retail Financial Transaction Committee at Conexxus. In 2015, she led the Conexxus partnership with nexo and IFSF to include petroleum data within the ISO20022 specification. She has been actively involved in payment and petroleum industry and international standards organizations for over 12 years and has been in the petroleum industry for 26 years. 

“What will ISO20022 mean to my business?“ is a question that you should be asking yourself. If your first question is “What is ISO20022?” this is the webinar for you! 

Payments have changed considerably in the last 30 years and most of us are using specifications that, at the core, are three decades old. While adjustments have been made for petroleum and other industries, the core specifications remain largely unchanged. As you explore other avenues of revenue, you may have already run into details of payment implementations that just don’t quite line up. It may be a proprietary field that one partner defined differently from another, or a code set that needs to be translated for one vendor. ISO8583, the current foundation, has served us well, but change is on the horizon, and it is ISO20022. 

This webinar provides a high-level overview of the ISO20022 standard, with a focus on the Conexxus/IFSF/nexo work that has been completed and a review of the work still in progress to ensure that petroleum is included in the base standard. It also highlights some of the new features in ISO 20022 that implementers will be able to take advantage of.  Topics included are:

  • What is a Standard? ISO 20022? 
  • How are we working together?
  • Where are we in the process?
  • What are some new features? 

Download the slide deck:

Payment Standards