Cost reduction for the development of new services and products through the introduction of the latest technologies.
Increased competition due to the use of a common - universal - solution.
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A COLLABORATIVE APPROACH THAT DRIVES
PAYMENT INTEROPERABILITY THROUGH STANDARDS
nexo brings together players from the whole payment industry value chain and addresses issues of interest and common concern in the field of payments, namely in the acceptor to acquirer relationship.
- Consistent with the Industry requirements: thanks to its multi-sectoral approach, nexo involves all stakeholders of the industry and takes into account their specific requirements in the design of the protocols.
- Involvement of the regulators: nexo will provide full transparency on its activities to the European regulators by giving them the opportunity to act as “Counsellor” in the organization and to attend meetings at all levels of organization governance.
- Development and promotion of the nexo standards: nexo will continue to develop, enhance, promote and maintain nexo standards for the benefit of its member organizations.
- Protection of intellectual assets: nexo will ensure the protection of the intellectual property rights associated with its specifications and standards.
stakeholder benefits
Benefit of convergence with non-card payment instruments through a unique ISO 20022 approach.
Will facilitate the provision of services overcoming the current technical, commercial and legal barriers existing today.
The proposed development will help banks to adopt a single methodology and approach in addressing new and updated messages in the financial arena. Banks are today confronted to various categories of messages based on non-interoperable technologies which hinders a convergence process and lead to higher development and maintenance costs. A timely migration towards a single methodology (e.g. ISO 20022) for all financial data exchanges (credit transfers, card payments, securities, treasury management, cheques, etc.) will lead to a progressive reduction and simplification of global and certification costs. It will enable banks and their customers to rely more and more on "off-the-shelves" harmonised software solutions.
Extension of the scope of today’s national schemes by giving the opportunity to extend their offer beyond today’s domestic boundaries.
Reduced time-to-market in the provision of card payment services.
Acceptors are Processors or Payment Service Providers (PSP) customers involved in a card acceptance contract for the acquisition of POI card payment transactions. The existence of country-based incompatible standards hinders the central acquisition of cross-border card payment transactions by multinational acceptors and, hence, the development of business. A common standard will provide tremendous incentives and opportunities for the development of central POI card transactions acquiring activities. As far as Europe is concerned, such a standard would meet the European legislators' objectives to achieve a single payments area in Europe. This standard will provide additional cost-savings for activities associated to loyalty and e-billing when related to commercial data associated to a card payment.
membership levels
Principal Members
Only a legal entity can have the status of Principal Member.
Principal Members commit to strongly promote and to implement, whenever possible, the specifications and standards and to participate actively in the work of the Association by bringing-in resources and specific know-how in standardisation activities and/or specification work in some of nexo’s Committees, Working Groups and Task Forces.
Principal Members can:
- Take part to General Assembly meetings, with a right to vote.
- Attend meetings of the various Committees, Working Groups (including Strategy Working Group) and Task Forces established within the Association.
- Present an applicant to the Board of Directors.
- Have access to all available specifications and standards (including draft versions), working papers and reports from the Association.
Annual Fee:
20 000€
Associate Members
Only a legal entity can have the status of Associate Member.
Associate Members undertake to actively contribute to the activities of the Association and to implement, whenever possible, the resulting specifications and standards. They undertake to support the specifications and standards so that they become the basis of global international standards and recommendations.
Associate Members can:
- Take part to General Assembly meetings, without right to vote.
- Attend meetings of the various Committees, Working Groups (excluding Strategy Working Group) and Task Forces established within the Association.
- Not present an applicant to the Board of Directors.
- Have access to all technical available specifications and standards (including draft versions), working papers and reports from the Association.
Annual Fee:
6 000€
Observer Members
May become an Observer Member a legal entity including specialized schools and universities, or individual including independent consultants or technical experts, not wishing to contribute permanently to the Association’s work.
Observer Members can:
- Attend General Assembly meetings without right to vote.
- Be invited to attend meetings of the Technical Steering Committee, of the various Working Groups and Task Forces, for a specific contribution when it is beneficial for the Association.
- Not present an applicant to the Board of Directors.
- Have NO ACCESS to any draft specifications and standards, or any documents produced by the Association that are not public.
Annual Fee:
2 000€
Counsellors
Counsellors are not Members of the Association.
May become a Counsellor a representative of a national or international institution being in charge of the regulation and/or supervision of card payments and/or other means of electronic payments. A Counsellor can be invited to attend General Assembly, committees, Working Groups and Task Forces meetings established within the Association.
- They cannot vote at the General Assembly.
- A Counsellor has no access to any draft specifications and standards, or any documents produced by the Association that are not public.
Annual Fee:
0€