What Type of Standards Has X9 Had Approved As American National Standards?
X9 American National Standards are widely used and recognized. Many X9 standards are either cited or required by the U.S. Federal government for use in financial procedures and transactions. In addition, X9 standards are the basis for many international standards used in facilitating global commerce. Examples of X9 standards commonly used today in the US and around the world are; paper and electronic check standards (X9 owns nearly 98% of the standardized real estate on the front and back of checks, the magnetic ink character record was originally developed by X9, the credit and debit card transactions standard operating all card transactions first developed under X9, so that we can use credit cards and ATM cards in millions of locations every day anywhere in the world without interoperability problems that would otherwise hinder their widespread use. X9 is also responsible for all numerous data security standards for financial services including the "PIN" - personal identification standard in wide use today. Other important X9 financial services standards include Data Encryption Standard (DES) and its successor Triple DES the current encryption security algorithm used in securing most banking transactions worldwide.
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