Tuesday, September 29, 2020
"nexo is an open standard that guarantees multiple interoperabilities: cross border, platform, host, market segment and others," Haydont said. "nexo standards enable companies to innovate on top of its messaging and protocols, removing both the significant complexity from the technical integration as well as the implementation challenges companies face as they expand acceptance of new payment types from devices in new markets."
Describing Arkos as middleware for managing card acceptance, Haydont noted the solution helps users migrate to nexo standards. Among its benefits are reducing time to market, risks and related costs of implementing payment solutions.
Bohdan Myroniw, chief strategy officer at Amadis, pointed out that having a common global interface and protocol will accelerate implementation, mitigate fraud and foster innovation.
"The challenge of deploying a [next-generation] infrastructure in complex enterprises is a real barrier that we are tackling today," Myroniw said. "And although we can't do much about government and economics, our framework that we've built as a software company and our solutions that are being developed, both by us and our clients, leverage Nexo and ISO20022 as a standard, which allows us to deliver solutions so much faster than ever before."
Myroniw noted that the Arkos platform is processor-agnostic and compatible with all major hardware types, and the platform's capabilities and ease of use will help reduce cost of ownership and time to market while providing a stable migration path to the nexo standard.
Jacques Soussana, secretary-general at nexo standards, commended Amadis for integrating and promoting nexo standards amid growing demand for global interoperability. "Market demand for nexo standards is higher than ever before," he said. "In response, active members such as Amadis are making significant progress in their deployment and adoption strategies."
The nexo international association supports its member organizations and working groups with the necessary tools to build, validate and fast-track deployments. Its ongoing efforts to provide specifications, protocols, implementation guidelines, testing and certification support are helping to make global adoption of nexo standards a reality, Soussana noted.
In July 2020, nexo released a Point of Interaction tool as part of its nexo implementation specification version 4 package. Designed in collaboration with Euro-Information, Crédit Mutuel Group's fintech, Fiserv and Novelpay, the tool provides validation support and test script library to acquiring hosts. Its functionality supports in-house testing throughout a solution's entire lifecycle, Soussana stated.
Soussana went on to say that nexo protocols and specifications, based on ISO20022 standards, are standardizing payment acceptance among merchants, acquirers, payment service providers and other payments industry stakeholders. The global body's expanding membership base includes the United States, Canada, China, India, Japan, Russia, and Saudi Arabia.
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