Nexo Standards, a Brussels-based nonprofit organization for global payments, recently announced it welcomed ten new members of its membership base in 2018 in an effort to grow fast, borderless, and interoperable card payments globally.
Founded in 2008, Nexo Standards’ mission is to unite the players in the payment industry on the definition and enhancement of payment terminal specifications to ensure the interoperability between card acceptance and acquiring solutions, integrated retail and terminal management systems through the delivery of a new generation of universal standards and certifications for card payments. Arnaud Crouzet, General Secretary of Nexo Standards, stated:
“Nexo brings together all players within the payment card value chain to address and overcome the challenges they face in relation to cross-border card payment acceptance. Our membership, which now totals almost 90 companies located around the world, helps drive the strategic direction of the association, develops and evolves the nexo messaging protocols and specifications, and collaborates to share knowledge and expertise to ensure nexo continues to align with evolving industry requirements.”
NCR, NSPK and UnionPay International have joined the association as Principal Members, while AEVI, Barclaycard, Elavon, FEIG ELECTRONIC, ID Tech, NEPTING and Wirecard have become Associate Members. Additionally, existing member PSD Codax has upgraded to Associate membership level and SIA SPA has upgraded to Principal Member status. Arnaud went on to add:
“While the payments landscape still remains somewhat fragmented, thanks to the dedicated efforts of our members, we have already come a long way in removing some of the barriers obstructing the development of seamless, cross-border card payment acceptance. Our members are fundamental to our continued success and I encourage interested stakeholders to join us as we advance towards a borderless, secure card payment acceptance ecosystem that harnesses the potential of the ISO20022 standard.”