New York City -- A new global standard for retail payments designed to help exchange data between payment terminals and POS terminals and support new payment technologies has been released by the Association for Retail Technology Standards (ARTS) and EPASOrg, which sets card payment standards in Europe.

The standard, called the ARTS-EPAS Retailer Payment Protocol, was developed to accommodate changes in payment forms such as mobile payments, EMV (Europay, MasterCard and Visa) chips, contactless cards and prepaid instruments, according to Tim Hood, chief solution architect for retail, SAP, who made his remarks during a presentation at the National Retail Federation’s Annual Convention & Expo at the Jacob Javits Center in New York.