nexo standards’ Retailer Protocol Receives ISO Accreditation

Global industry association, nexo standards, has today announced that its latest version of the nexo Retailer Protocol has now been published by the ISO Registration Authority and the Cards and Related Retail Financial Services Standards Evaluation Group, becoming the official ISO 20022 CASP – Card Sale to POI Protocol.

 

The nexo Retailer Protocol standardizes the communication between the sales system and the payments point of interaction (POI) – whether a physical terminal or the checkout part of an online shopping cart – significantly lowering the time and cost of system integration and maintenance and, in turn, freeing internal resource for innovation. By ensuring clearer separation between the sales system and POI, retailers can more easily adhere to security requirements such as PCI DSS. The standard also ensures the seamless operation between payment platforms while maintaining independence of any specific platform.

 

“The ISO 20022 framework is globally recognized by the industry as enabling interoperability both locally and across borders,” comments Robert Reheis, Co-Chair of the nexo Technical Steering Committee. “As an ISO 20022 accredited protocol, the Retailer Protocol will now follow the ISO maintenance process, which enables all organizations worldwide to provide feedback and suggest improvements to the protocol, ensuing its continued evolution to meet current and future retailer market requirements.

 

More broadly, with the nexo Retailer Protocol, retailers can take back control of the transaction process, without the high costs of proprietary solutions,” continues Robert. “The protocol is rich in features such as cash back, reservation instalment and value-added-features such as loyalty. And, by utilizing standardized, fully interoperable protocol messages, retailers are freed from the risk of vendor lock-in and competition is promoted based on value-added-services.”

 

nexo’s messaging protocols and specifications enable fast, interoperable and borderless card payments by standardizing the exchange of payment acceptance data between merchants, acquirers, payment service providers and other payment stakeholders. The protocols and specifications, which are developed by the association’s dedicated working groups, adhere to ISO20022 standards, are universally applicable and freely available globally.

 

ENDS

 

For more media information or to schedule a briefing with nexo standards, please contact Kirsty Blackburn at kirsty@iseepr.co.uk or Lucy Horsman at lucy@iseepr.co.uk / +44 (0) 113 350 1922

Last Tweets

Read our latest case study to learn how using #nexostandards has enabled LAVEGO to provide its customers with an innovative #paymentsolution that’s harmonized across different geographies: https://t.co/t7YISVVMTi @UnzerGroup https://t.co/9JKRL1KLhk

Thanks to the dedication of our members, #nexostandards can provide the #payments industry with truly #borderless interoperability. See a full list of nexo standards members here: https://t.co/FG43kTcJ40 https://t.co/2z4f1MSkJn

#Payments #acceptance stakeholders can use our nexo-accredited #test tools & implementation guidelines to ensure interoperability and nexo-compliance throughout a solution’s lifecycle: https://t.co/6Qmw35sjoM https://t.co/bCZESM27yG

Reinventing the Wheel: How LAVEGO AG Brought Innovation to the POS with nexo standards

About LAVEGO AG

LAVEGO AG - Part of Unzer, is an expert in its craft. For over 25 years, the German girocard network provider has been enabling retailers and SMEs to accept card-based payments and benefit from a host of other value-added services. With a tech-led business model, LAVEGO pioneered a Linux-based solution and defined its own host-software and host-protocol back in 1997, before...

nexo standards Annual Report 2020

nexo standards has published its first Annual Report, exploring the technical and organizational evolution of the organization over the past 12 months.

Following a year in which...

Over 5 Billion Payment Transactions Annually Powered by nexo standards

Latest nexo member survey shows growing global adoption of nexo’s standards and protocols

nexo standards Welcomes Chinese Business IoT Vendor Sunmi to its Membership

nexo standards, today announces that it has welcomed business IoT company and payment solution provider, Sunmi , as an Associate Member.

Why nexo ?
Frédéric Mazurier
Interview