nexo standards Announces Board Following Third General Assembly

by PaymentsJournal 0

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Board of Directors, Chairman of the Board andCo-Chairs of Technical Steering Committee elected as standards for globalpayment acceptance gather pace worldwide

12June 2017 – nexostandards, the open, global industry association dedicated to enabling fast,interoperable and borderless payments acceptance, today announces the resultsof its third annual General Assembly.

Boardof Directors elected

nexostandards’ 78 member organisations, which together represent all actors in thepayment acceptance transaction chain, have elected a Board of Directors that isequally diverse, including acceptors, card schemes, vendors, payment serviceproviders (PSPs) and processors.

A fulllist of nexo’s new Board of Directors is available on the nexo website.

Chairmanof the Board re-elected

ClaudeBrun, has been re-elected as Chairman of the nexo Board of Directors for atwo-year period.

“It isan honour to continue serving as nexo’s Chairman of the Board,” comments ClaudeBrun. “After years of collaboration between players right across the paymentacceptance ecosystem, nexo’s portfolio of global interoperability standards arenow being rolled out by merchants, processors, PSPs and banks, with the supportof national and global schemes across Europe, Canada, America, Asia and Africa.

“2017 isa breakthrough year in global payments acceptance,” adds Claude Brun. “nexo’sstandards are enabling all actors in the acceptance value chain to open up forglobal business, unrestricted by the cross-border systems specificities thathave held back the industry for years. Now, using nexo standards, all actors inpayment acceptance can interoperate seamlessly regardless of location, using anISO 20022 set of messaging protocols and implementation specifications that putmerchants in control of their payments strategies.”

TechnicalSteering Committee Co-Chairs and Workgroup Chairs elected

nexo’smembers also elected two Co-Chairs to its Technical Steering Committee(TSC): Dolores Mimran, GIE-CB and Bryan Croteau, ACI Worldwide. Thiscommittee supervises the association’s six technical working groups (TWGs),which develop the association’s messaging protocols, implementationspecifications and test cases.

Keyindividuals were also voted to Co-Chair each of the nexo Technical WorkingGroups. Further details of the working group Chairs can be found on the nexo website.

Industrytransformation

“Asnexo’s open standards are adopted the payment acceptance industry willtransform,” adds Arnaud Crouzet, General Secretary, nexo standards. “Afterimplementation, some of our members are forecasting a 20% reduction in the costof payment acquisition. Thanks to the cross-border systems harmonisation,businesses can expand into new territories faster and easier than ever before.New innovative payment types can be rolled out quickly, delivering acompetitive advantage, and terminals and other points of interaction can beprocured globally, managed centrally, and easily deployed in multiplelocations, simultaneously.

“Theuniversal interoperability enabled by nexo standards also creates a levelplaying field for acceptors, enabling merchants and PSPs to establish aconsistent baseline upon which they can evaluate solutions from differentvendors, migrate easily and efficiently between different solutions when changeis required, and engage with vendors on a truly global basis,” adds ArnaudCrouzet.

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