Clear2Pay’s OSCar Acquirer Test Suite has been validated by the Open Standard for Cards (OSCar) Consortium, which is pushing to speed up the implementation of the single euro payments area (SEPA) Cards standards covering point-of-sale (PoS) terminal-to-acquirer payments. The new certification will allow Clear2Pay customers at acquiring banks, payment processors, retailers and others to test their implementation against the SEPA Cards specifications.
The Clear2Pay certification process was executed by PayCert on behalf of the OSCar Consortium. OSCar is the international initiative that aims to facilitate and speed up the implementation of the SEPA Cards standards in the PoS terminal-to-acquirer domain, based upon the SEPA-FAST EMV requirements and SEPA Electronic Protocols Application Software (EPAS). The consortium’s main objectives are to ensure that PoS devices and acquirer systems work together seamlessly, which will help users, company treasurers and everyone else in the financial supply chain.
Prior to going live with the SEPA Cards standard, acquiring banks and payment processors need to be formally approved and pass qualification at authorized test laboratories. The test suite will allow organisations to verify if their implementations conform to the functional SEPA standards and to benchmark along the way as compliance projects progress to ensure there are no obstacles encountered later in the process.
“We are pleased that Clear2Pay, with over 25 years of experience, is supporting OSCar in paving the way to a streamlined payment experience,” said Loys Moulin, the OSCar coordinator in regard to the award of certification. This test tool validation is a new milestone in the evolution of the card standard.”
According to Marie Costers, general manager of Clear2Pay Open Test Solutions, the firm is keen to contribute to the adoption of a new market standard in the eurozone. “With the SEPA compliance end date set to 1 February 2014, the solution will prove of great value to organisations enabling them to go to market faster with certified implementations,” she said. “Merchants will benefit from enhanced interoperability in a unified payment area.”
Despite the data protection regulation being implemented in 2018, 69% of IT decision makers don’t have the backing of their board to achieve GDPR compliance, according to Calligo.
The US dollar and debt yields falling on the North Korea missile test, treasury being a top target for cyber criminals and why treasurers aren't into real-time payments all hit the latest headlines in the world of treasury this week. Don't miss our ten top news stories from around the world.
HSBC arguing that mid-market businesses are missing out on huge exporting opportunities, 3D printing being predicted to cut global trade by 23% in 2060 and the blockchain community launching a voluntary transparency project all hit the latest headlines in the world of treasury this week.
Direct carrier billing is currently a competitive payments industry in Europe, but will it flourish under PSD2? EE and Microsoft think so.