HPS’ PowerCARD Powers Up With nexo standards

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.”

 

nexo standards enables fast, interoperable and borderless payments acceptance by standardising the exchange of payment acceptance data between merchants, acquirers, payment service providers and other payment stakeholders. nexo’s messaging protocols and specifications adhere to ISO20022 standards, are universally applicable and are freely available globally.

nexo standards is an open, global association dedicated to removing the barriers present in today’s fragmented global card payment acceptance ecosystem. Headquartered in Brussels, its members represent the full spectrum of card payments stakeholders, including acceptors, processors, card schemes, payment service providers and vendors.

nexo was established in 2014, when three historical contributors of card payment standards and specifications were merged: EPASOrg, the OSCar consortium and the CIR SEPA-Fast technical working group. For more information, please consult www.nexo-standards.org

 

HPS is a multinational company and a leading provider of electronic payment solutions for financial institutions, card processors and national and regional ATM switch solutions worldwide

The PowerCARD solution – used by more than 350 issuers, acquiring banks, processors and switches -covers the whole electronic payment value chain and allows the management of all types of cards (credit, debit, prepaid, company, fidelity, fuel, etc.) via any type of channel (ATMs, payment terminals, Internet, mobile, etc.).

The PowerCARD solution is used in over 85 countries on five continents. HPS has many well-known customers among which “Fortune 500” and “Forbes World’s Biggest Companies”.

HPS has been listed on the Casablanca Stock Exchange since 2006. It now has about 400 engineers and experts based in Casablanca, Dubai, Paris and Aix-en-Provence. More information at: www.hps-worldwide.com