Over 5 Billion Payment Transactions Annually Powered by nexo standards

nexo standards’ latest member survey has found that its specifications and protocols are powering over 5 billion payment transactions per year, representing over 416 million payments per month. The survey also revealed the scale of nexo’s global presence, with live deployments in over 25 countries across APAC, Africa, Europe and North and South America.

 

True standardization benefits stakeholders in all markets, and nexo is passionate about extending its international reach – both via its membership and in deployments,” comments Jacques Soussana, Secretary-General, nexo standards. “The results of this member survey demonstrate beyond all doubt that nexo is now truly global and our protocols are live. 5 billion is a figure we can be proud of – especially when you consider that, as our standards are freely available, this doesn’t account for the deployments of non-member companies.”

 

The survey collected responses from nexo’s membership, representing the entire payments acceptance chain including acquirers, card schemes, issuers, merchants, processors and terminal vendors. The association’s specifications and protocols serve each of these stakeholders by removing the challenges of fragmentation present in today’s payments acceptance ecosystem through harnessing the interoperability potential of ISO 20022.

 

In addition to creating standards, the association also helps the ecosystem to implement nexo with extensive testing, implementation, and certification support. The survey also found the nexo implementation specification package (NIS v4.0) proved both a valuable and popular option among implementing members, with 77% already using or planning to use the package to simplify deployment of nexo standards. NIS v4.0 is a package that details how to integrate nexo specifications and protocols into a compliant nexo FAST payment application and includes test tool support to simplify validation and certification of solutions, and ensures quality and interoperability ahead of market launch.

 

“nexo’s success is only the sum of its member’s participation and efforts. The member survey is key to our understanding of how nexo members are using our specifications, and how we can continue to best address their needs,” adds Jacques. “We are grateful to all the members who participated in the survey for sharing their deployments and their continued support in realizing our vision.”

 

 

ENDS

 

 

 

For media enquiries, please contact Lucy Horsman / Alistair Cochrane at iseepr at lucy@iseepr.co.uk / alistair.c@iseepr.co.uk or call +44(0)7455924255.

Last Tweets

.@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

This article from @paymentscm quotes research from @451Research finding that 1/3 consumers began using #DigitalPayments for the first time within the last year, highlighting the need for businesses to evolve with the digital #payments landscape https://t.co/3TQZxY6PnZ https://t.co/fQXN51BlPR

This article from treibauf provides a great insight into who we are, and what we do, at #nexostandards. Follow the link for an overview of our work, members and protocols; with a deep dive into the nexo #Retailer Protocol: https://t.co/5SXHDAvaxy https://t.co/dF45Dat4Pz

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...

NOVELPAY Payment Application for Unattended Terminals Achieves Certification

nexo standards, which offers the payment community a unified, ISO-based solution for payment acceptance, today announces the latest application to achieve its certification: NOVELPAY’s PAX...

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...

Infographic: Who is nexo standards?

Why nexo ?
Francois Mezzina
TOTALENERGIES
Interview