PHOENIX – September 29, 2020 –Amadis,a payment software and consulting services provider, disclosed Sept. 29, 2020, that it has added the nexo global payment standard to its Arkos software platform. The new integration will facilitate agile certifications, development and innovation, according to Amadis co-founder and CEO,Emmanuel Haydont, in an exclusive interview withMobile Marketing and Technology. Following are excerpts from the interview.
DL: What global implementation challenges do you anticipate and how do you plan to overcome them?
EH: First and foremost, resistance to change. Card present payment acceptance is often considered non-global, with important local requirements that only local companies know and have solutions for. At Amadis, we have global expertise in payments and think these regional specifics are overstated. We’ve had the chance to identify and inventory what was specific versus what was global in major international markets. And our study confirmed local requirements are a minor part of a payment acceptance solution and could be implemented as simple customization while keeping the core product completely global or international.
The nexo protocol standards are both global and universal. They leverage the international ISO 20022 data formats designed by international companies across all industry sectors, including retail, transportation and petroleum, all regions, including North America, Europe, Asia-Pacific, and all stakeholders in the commerce value chain, including terminal manufacturer, processors, Acquirers, labs , software editors, sale system providers, payment system providers.
With our Arkos flexible architectures, we can find the best compromises in dealing with legacy systems, introducing open interoperable standards where it makes sense and offering the key benefits of future proof software architectures.
DL: How do you plan to build consensus and scale the new global standard?
EH: We don’t need to build a consensus. The best driver for standard adoption is their direct and indirect benefits, in particular their effect on project cost reduction through interoperability, certification reduction, and integration simplification effects. But also, through the dependency reduction they allow and the way they facilitate innovation and differentiation.
In the United States, EMV adoption project was done through a “brute force” approach, focused on contact. This was long and costly because the paradigm change, from a static payment means (magstripe) to an active one (EMV Chip dynamic certificate) was not taken into account, forcing EMV projects to go through inefficient processes and an incredible number of certifications, which could have been avoided would proper standards had been adopted prior to converting existing systems to EMV.
Contactless EMV acceptance infrastructure is still only partially deployed today. Costs to complete the deployment would be greatly reduced with modern architectures and standard adoption, with an even greater positive impact on time to market. nexo is not a new religion, it’s the missing standard that should have been introduced with EMV.
Amadis mission is to participate to the structuring of the industry, for the interest of all parties. We are at the services of any companies ready to adopt new approaches to payment acceptance solution design and new standards with a simple promise to reduce, their project time to market, their provider dependances and their cost, yet simplifying adaptation of needed innovations.
DL: What protocols and APIs form the primary framework for this new international standard?
EH: All of them as needed:
nexo Retail for the interoperability it allows between sale and payment sub-systems,
nexo Acquirer for its integration and certification reduction benefits,
nexo TMS for removing dependencies to dominant payment terminal providers,
nexo Fast as the first international payment application standard for its cost reduction benefits as a global trans-national and trans-market-segment application.
Stay tuned for more developments from this payments technology leader.
Dale S. Laszig, vice president, content marketing at Mobile Marketing & Technology and managing director, DSL Direct, is a payments industry journalist and content strategist who writes for multiple trade journals. Follow her on LinkedIn athttps://www.linkedin.com/in/dalelaszig/and @DSLdirect on Twitter.