HPS’ PowerCARD platform poised to implement nexo standards to overhaul existing payments systems
nexo standards, the global industry association dedicated to enabling fast, interoperable and borderless payments acceptance, today announces that HPS, a leading payment software company, has deployed nexo’s protocols across its PowerCARD suite of solutions. By implementing nexo’s standards, HPS is flying the flag for a fundamental shift towards interoperability in the international payments ecosystem, lighting the way for other fintech forerunners to follow.
With over 350 customers across 85 countries worldwide, HPS has gained a reputation as a trailblazer in enabling innovative payments technology. HPS’ PowerCARD platform can process any card type via any channel covering the entire payment value chain. Implementing nexo’s card payment acceptance messaging protocols and specifications with the PowerCARD platform will allow HPS to offer a significant cost saving to its customers by removing the current need to create individual payment infrastructures for every country in which they operate. Instead, they will have just one globally interoperable infrastructure.
By implementing nexo standards, all actors in the payments acceptance chain can interoperate seamlessly regardless of location. This interoperation uses an ISO 20022 set of messaging protocols and implementation specifications designed to put merchants in control of their payment strategies.
“In today’s age of globalisation, many companies worldwide now have a requirement to manage, process and accept card payment transactions from multiple countries,” comments Philippe Vigand, Deputy Managing Director, HPS. “As each country has its own unique domestic payment standards and protocols we have seen an increasing need from our customers for a standardised and harmonised way to exchange payment data across borders. We are delighted to confirm that by Q3 2017, the PowerCARD platform will have the nexo protocols available.”
Initial deployment of the nexo protocols is planned for the Switching, Pre-acquiring and Acquiring solutions of PowerCARD, with roll out to the remaining solutions planned for Q1 2018.
“nexo standards was created to meet the growing requirement for interoperability in global payment acceptance,” adds Arnaud Crouzet, General Secretary, nexo standards. “HPS has been a valued member of nexo since 2016 and it is great to see that our specifications and protocols have been deployed on the popular PowerCARD platform, which is used by many financial institutions globally.”
For further information on nexo standards, please visit www.nexo-standards.org