FMN: What have been some of the major successes that Conexxus has experienced?

Taylor: One key success is data security. We were instrumental, with the hard work of our members, to relax all kinds of mandates related to data security; and have created numerous guides that educate the industry on reducing risk, rather than investing in certifications that do not.
In the case of PCI, we provided the technology expertise to persuade card brands to recognize that smaller merchants did not need to comply with the more complex security benchmarks of stock PCI. This has saved the industry millions of dollars.
Another success is card payments risk reduction. We successfully drove point-to-point encryption standards in X9 and fast tracked an industry version that effectively takes the value out of card data in our systems. We are also leading the charge for open tokenization and mobile commerce, and have successfully rallied other retail segments to have a single voice of reason for future payments systems—and this will save our industry billions if we are successful.
We also have successfully attracted large tech innovators to our market—Qualcomm/Gimbal is one example. Part of our mission is to make our industry attractive – despite it being highly fragmented and decidedly entrepreneurial when compared to the adjacent markets of grocery, drug and dollar. We work hard to make our industry the “first stop” for any innovations around retail, by offering integration standards that enable quick deployment. We will be focusing on seeking out the innovators as we move forward as Conexxus.

FMN: What are the major opportunities still left for Conexxus?

Taylor: The opportunities are endless and emerge everyday in the consumer electronics market and in the Washington policy arena. Technology is core to how we will solve problems, comply with regulation and better serve customers; and those topics only get larger each day.

FMN: What is needed by all of the impacted parties to take these efforts to the next level? Is there a call to action for involvement with these opportunities?

Taylor: We need all companies in our industry to understand what we do, how we improve their profits, how we secure their freedom of operations and decide that we are worth investing in—because no company in our industry is big enough to change many of the macro forces that will dictate their future. Investment and engagement are critical to we are a premier, or secondary retail segment.
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