Ingenico Group (Euronext: FR0000125346 – ING), the global leader in seamless payment, American Express and Crédit Mutuel-CM11* Group today announced the successful completion of a card payment acceptance proof-of-concept, based on the latest nexo-FAST terminal specifications, for both contact and contactless American Express card transactions.
The pilot was developed on Ingenico’s latest generation Tetra terminals.
nexo, created from the merger of EPASOrg, Sepa-FAST and the OSCar Consortium, is a global standardization initiative with the mission to design, develop, promote and maintain card payment and cash withdrawal standards, protocols and implementation specifications, following a universal ISO 20022 standardization process. The organization aims at facilitating domestic and cross border payment acceptance and ensuring the interoperability of card payments by offering a coherent set of international standards that can replace those in force in each country. The nexo-FAST standard covers the terminal specifications.
The initiative launched by Ingenico Group, Crédit Mutuel-CM11* Group and American Express demonstrates that a single payment application, compliant with nexo-FAST specifications, can process all EMV bank card transactions, including contact and contactless American Express, and can easily extend the scope of the ongoing deployment projects. Furthermore, this solution could represent an important asset to retailers, as the harmonization of card payment acceptance simplifies and reduces the cost of operating internationally.
"This successful project demonstrates the capability of nexo standards to support all major card schemes on the same payment application. When rolled out, this solution will help reduce time to market, improve terminal management operations, and offer better service for merchants," said Stéphane Jacquis, Multi-Channel Services Director at Ingenico Group
Crédit Mutuel-CM11 Group refers to the local caisses of Crédit Mutuel Centre Est Europe, Sud-Est, Ile-de-France, Savoie-Mont Blanc, Midi-Atlantique, Loire-Atlantique et Centre-Ouest, Centre, Normandie, Dauphiné-Vivarais, Méditerranéen and Anjou, of their common federal bank, and of the Banque Fédérative du Crédit Mutuel and its main subsidiaries including : CIC, Euro Information, ACM, BECM, Targobank Germany, Targobank Spain, Cofidis and CIC Iberbanco.