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ISO 20022
Universal financial industry message scheme

Cards and Related Retail Financial Services Standards Evaluation Group

Scope of the Cards and Related Retail Financial Services SEG

The scope of the Cards and Related Retail Financial Services SEG includes the messages that support secure transactions and business processes related to the following non exhaustive list of financial instruments:

  • Debit card
  • Charge and credit card
  • Prepaid card

Business areas include

The SEG's scope includes at least the following business areas and processes for secure card-originated financial transaction message handling:

  • between acquirers and card issuers with and without intermediary agents
  • between merchants and acquirers and cardholders and issuers, that support authorization, clearing, reversal, chargeback, dispute processes, fraud management and related services
  • at the Point Of Interaction (POI) environment (or Point-Of-Sale, POS), including processes related to payment services, administrative and device related services
  • between Automated Teller Machine (ATM) and host system(s) for transaction authorization and processing, ATM inventory and management, and similar messages transacted on internet or from mobile devices or other types of personal devices.

Actors involved include

  • Card holder: private individual, group or commercial entity who uses cards and card related products for payments and other financial services
  • Acceptor: business entity (usually a merchant or retailer) accepting card payment transactions under the framework of a contract with an acquirer
  • Acquirer: business entity (usually a financial institution) acquiring card related transactions submitted by an acceptor in the framework of a contract
  • Card issuer: business entity (usually a financial institution) issuing cards to cardholders and authorising card payment transactions forwarded by acquirers
  • Intermediary agent: business entity which forwards and/or processes card payment transactions on behalf of parties, including acceptor and acquirer aggregators
  • Card scheme: business entity that brands card product platforms, sets payment processing rules, and provide services to card holders, acceptors, acquirers and issuers.

SEG leadership team

  • Convenor: Mr. William Vanobberghen
  • Vice convenor: Mr. Ian Groves
  • Secretary: Mr. Reinhard Herwig

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