.@paymentscm explores how #retailers can adapt to changing consumer preferences both in-store and online. The article cites a slick and hassle-free #checkout experience as being vital for retailers to attract and hold on to consumers: https://t.co/5zRfGorJ7Z https://t.co/f2emTMcpwi
nexo standards expands scope beyond card-based transactions
Advancements will ease integration of payment acceptance solutions across a range of transaction technology
nexo standards, which offers the payment community a unified, ISO-based solution for payment acceptance, has expanded its scope beyond card-based transactions to support changes in the ways consumers are paying for goods and services; for example using mobile wallets, instant payments, request-to-pay and QR codes; and new payment scenarios such as open-loop transport payments.
The freely available nexo technical standards are based on ISO 20022 which addresses the complexity created by using existing fragmented and proprietary financial service standards.
Working with an international membership base of acquirers, card schemes, issuers, merchants, processors and vendors, nexo standards simplifies and standardizes the exchange of data between all stakeholders to detail an integrated global approach to payment acceptance.
Jacques Soussana, Secretary-General at nexo standards, comments: “Today, our standards are easing integration complexity for merchants, processors, vendors, PSPs and banks, and are supported by schemes all over the world. Adding other means of electronic payments to our scope enables nexo standards to bring these significant financial and operational benefits regardless of the transaction type, payment method or technology used. This reflects the needs of our members, the market and their customers.”
The scope expansion was agreed at the association’s General Assembly last month, during which several new representatives were elected to its Board of Directors and appointed to its Executive Team. Yann Leclerc, Project and Solutions Director at Market Pay, was elected as new General Assembly Chairman; and Patrice Hertzog, Manager at Crédit Mutuel Global Payment Solutions, was elected as Board of Directors Chairman.
nexo standards are already used across six continents and power more than five billion payment transactions a year.
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nexo standards adds Mir and PURE to its globally adopted payment acceptance specification
nexo standards, which offers the payment community an ISO-based approach to global payments acceptance by standardizing the exchange of transaction data, has integrated two additional contactless kernels into its nexo FAST Specification: Russia’s national scheme, Mir; and Thales’ white-label EMV® technology, PURE, which is used by over 30 private labels and domestic schemes around the world...