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Why does ISO-8583 Score Over Other Standards

The issue with such a simplistic model of data packing is that it lacks meta information i.e. the message itself does not contain any information on what exactly is being packed in it. Not that it could not have been overcome even with a comma-separated version- just that it could get cumbersome.

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Why does ISO-8583 Score Over Other Standards

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  1. WHYDOES ISO-8583 SCORE OVER OTHER STANDARDS? Mindfire Solutions is a 20+ years old, 650+ people software development and testing services company with a global clientele. We offer custom web and mobile solutions for companies across all major industries.

  2. Of course, it is one of the many financial transaction standards describing how to pack certain data fields such that it could reliably be unpacked as well. However, the distinguishing factors that the ISO standard possesses are : It uses web sockets for communication which is very efficient. This standard helps the electronic system which reads the card number, the transaction amount and other relevant data fields to pack it all up so that it could be transmitted electronically to a transaction processing system where it could then be unpacked back into individual data components and then processed.

  3. Where do the Others Lack? There exist numerous other methods for packing and unpacking data. It could be as simple as comma separated fields. Eg: I could choose to send the transaction information as simple comma separated values as: “1234123412341234,1000, INR,987” (Card Number, Amount, Currency, Merchant ID). The issue with such a simplistic model of data packing is that it lacks meta information i.e. the message itself does not contain any information on what exactly is being packed in it. Not that it could not have been overcome even with a comma- separated version- just that it could get cumbersome.

  4. Click here to read the full article. Like other businesses, if you too are looking to develop custom software solutions, Mindfire Solutions can be your partner of choice. We have gained significant experience over the years working on 2000+ projects. We have a team of highly skilled and certified software professionals, who have developed many custom solutions for our global clients over the years.

  5. THANKS YOU Content Source: Medium Contented by: Mindfire Solutions

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