Retail payments experts, MWC Partners, are pleased to announce that they have successfully developed a Cegid Retail POS payment integration in accordance with the ISO 20022 nexo standards Retailer Protocol.
Adherence to the nexo standards eliminates the need for a new bespoke payment integration each time a Cegid Retail POS user wants to change PSP. Our integration offers Cegid Retail POS users the freedom to work with any PSP compliant with nexo standards Retailer Protocol version 5 and ISO 20022. This development puts MWC Partners at the forefront of the payment services industry and gives PSPs the opportunity to take advantage of this integration by also developing their APIs to meet the latest nexo standards.
The primary objective of nexo standards is to harmonise interfaces used between systems in the financial services industry into one set of interoperable standards. nexo is the registered authority for the payment acceptance standard within ISO 20022, which is fast becoming the standard for all banking and payment transactions.
As part of its development of new standards, the nexo organisation co-ordinates a series of sector-specific working groups where partner technology companies pool their expertise. MWC Partners are a member of the nexo Retailer Working Group, which develops and maintains the Retailer Protocol.
As more PSPs develop their software in accordance with the nexo standards Retailer Protocol, the payment ecosystem for Cegid Retail POS users will automatically be expanded. If all major PSPs adopted nexo Retailer Protocol version 5 onwards, Cegid Retail POS users would have access to an unparalleled choice of PSPs. The payment integration developed by MWC Partners is compatible with all three major Cegid POS solutions, Cegid Retail Y2, Cegid Live Store and Cegid mPOS.
Jacques Soussana is Secretary-General of nexo standards. “There is a lot of talk now in Europe about the standardisation of payments, led by the European Union, which has defined goals for payment integration and cross-border payments. nexo standards’ ISO 20022 XML initiative is integral to this process and will help accelerate the implementation of more efficient electronic payments not only throughout the EU, but across the rest of the world.”
Jacques Soussana continued; “We are keen to work with companies like MWC Partners who have a strong pedigree in retail payments technology. They understand the challenges and pressures of retail, and the practicalities of operating payment solutions in a retail environment. MWC Partners have been a valuable partner as we have worked together to devise and then promote the benefits of nexo standards in retail, and they are well placed to help PSPs and retailers integrate their payment software and POS solutions. We look forward to continuing to work with them to promote the adoption of the nexo standards.”
“We need common protocols throughout the payment chain so that retailers can have a wide choice of solution provider. Nexo provides that standard. MWC Partners’ recent completion of a nexo compliant integration will help to encourage PSPs to update their own APIs and payment terminals to the latest nexo standard. This will open the door to Cegid POS users who may wish to implement a new payment software solution across their store estate.”
Steve Watson, Chairman of MWC Partners, said “The development of a nexo-compliant payment integration is an important step towards standardisation in retail payments, but it also reaffirms MWC Partners’ position as one of Europe’s leading integrators of payment solutions.”
As nexo standards become more widely adopted, it should eventually be possible for retailers to plug and play any nexo-compliant PSP or any POS solution. One of the positive consequences of this interoperability is increased competition, since the use of open standards enables simpler integration and leads to reduced cost for retailers, and, ultimately, customers. In addition, new payment methods should be easier, quicker and cheaper to introduce.