nexo involves major players working collaboratively
Close competitors have come around the table with their peers to define standards across the value chain. The primary aim is to ease interoperability and tackle shared payment acceptance challenges. nexo covers all aspects of payment acceptance implementation. This includes standards, protocols, message formats and security requirements including cryptographic mechanisms and ISO 20022 for the nexo FAST terminal-based payment app.
nexo is becoming increasingly dominant and rising up the payments agenda
While the uptake of nexo standards started slowly since its inception in 2014, it has gained considerable traction in the past two years. And as more parties become involved, the standards roll out and the benefits ramp up.
The nexo standards membership now includes leading device manufacturers such as Castles Technology as well as acquirers, processors, local card schemes, PSPs, solutions providers, and merchants working both domestically and internationally.
In 2023, many more players are expected to adopt nexo. If not, they risk being left behind. nexo standards’ membership is now truly international, with the likes of Saudi Payments from Saudi Arabia, and TAP Payments of the United Arab Emirates, recently joining the organization.
Castles is helping to drive the nexo revolution
At Castles, we believe that nexo standards is key to enhancing operational performance of payment portfolios. We have been involved with nexo from its earliest days and are highly active within its various committees and teams.
Together with project partners Aevi and Total Energies, Castles won the nexo award for ‘operational excellence’ in 2022. The winning project proves that nexo standards can be used to deliver seamless global solutions and solve complex in-person payment challenges. Discover more here.
Paving the way for in-store payments innovation
If you’re a merchant, acquirer or solution provider looking to stay ahead of the curve and build a better payment acceptance roadmap for the future, you should be embracing nexo standards now, or at least ensuring the specifications are on your operational agenda.
The Castles team are always ready to discuss new use cases for nexo. Contact us for more information: contact.emea@castlestech.com. And, if you’re attending this year’s Retail Technology Show at London Olympia in April, come and see us in person at Stand 6C70.
Find out more about nexo standards here.
