The Interactive Financial eXchange (IFX) Forum has published version 1.9 of IFX, its open, interoperable standard for financial data exchange, which is now available at no charge, for end use on automated teller machine (ATM) or Point-of-Sale (PoS) payments processing.
The IFX Forum is an international non-profit industry association whose mission is to develop and promote the adoption of the IFX specification. In line with the Forum's commitment to continued support for IFX version 1 after the launch of version 2, the new version's enhancements focus on ATM implementations and compliance with the Payments Card Industry’s Data Security Standard (PCI DSS). Operational improvements and some corrections to existing material were also made.
Noteworthy extensions to IFX in version 1.9 include:
• Support for devices that can operate in multiple modes (such as clerk/teller-operated versus customer-operated, depending on the time of day), allowing more dynamic interaction between the terminal and the server.
• Message extension that allows a device to customise operations based on the services a customer is enrolled in, such as mortgage or investment.
• Europe-focused ATM enhancements, such as support for local security requirements that exceed those covered by the common industry security standards, and support for Germany's modular merkmal (MM) card security token.
• Removal of any sensitive authentication data, as defined by the PCI DSS, from consumer-initiated reverse and modify messages - applicable across all IFX implementations.
• Support for ATM overdraft notification to customers.
• Enhancements to ATM cash dispensing and check processing modules.
“The enhancements and extensions in IFX 1.9 are important for IFX ATM-POS implementations, with special application for those in Europe," said IFX Forum president, Richard Urban. "The new material demonstrates IFX's international orientation especially well, along with the excellent cross-industry collaboration within the Forum's working groups. I encourage anyone who is interested in furthering the value of IFX in a particular region or sector to join us, and participate in setting future direction for the specification.”