JCB Joins nexo Standards as Principle Member
next Standards, known as the open standards association that attributed with the creation of implementation specifications for card payment acceptance on the global scale, and JCB have announced that the company became the principle member of nexo Standards in its Card Schemes category.
The company is situated in Brussels, and works on behalf of all card payment stakeholders to bring together contact and contactless card payment acceptance.
Through the development of new protocols and implementation specifications which help to enlist interoperability between card acceptance and acquiring solutions. This along with integrated retail and terminal management systems, nexo is cooking up a new generation of universal card payment standards.
Arnaud Crouzet, General Secretary, nexo Standards, stated, “nexo is delighted to welcome JCB to its growing portfolio of Principal Members. Success in our mission to harmonise card payment acceptance globally relies on our engagement with international payment brands like JCB. Through nexo-FAST, nexo Standards has placed a major focus on developing specifications that facilitate the implementation and interoperability of EMV and SEPA payments acceptance. JCB’s participation in nexo-FAST is a testament to the importance of this work.”
Tsuyoshi Notani, Managing Director, JCB International (Europe) Ltd., added with, “JCB is pleased to join nexo Standards and contribute to its mission to harmonise payment acceptance worldwide. EMV contactless and Chip and PIN payments, together with the EU’s SEPA initiative are important drivers in the European payments market. It is important that JCB participates in the development of the nexo-FAST standards, to ensure that the acceptance infrastructure built on those standards is truly international in its capability.”
This participation has a few implications going forwards for both companies. Payment acceptors, processors, payment service providers, and vendors will be able to implement JCB contact and contactless transaction kernels into their EMV and SEPA compliant terminals as per the services of nexo-FAST.