Neither Visa nor Mastercard really implement ISO 8583 a standardized way. Which means they each issue many thousands of pages of documentation covering not only which of the standard fields they use and how, but also how they cram their proprietary data into the messages. Most card management/issuance platforms do a decent job of abstracting this away though.
Transition to ISO 20022 would be a positive improvement, but I don't think it will ever meet the required ROI threshold (globally) for that to happen.
Transition to ISO 20022 would be a positive improvement, but I don't think it will ever meet the required ROI threshold (globally) for that to happen.