AFSOL taps Fime for certification of universal payment solutions

Thursday 14 September 2023 09:02 CET | News

France-based payment software editor AFSOL has selected US-based fintech Fime to drive its digitalisation of payments.


During the five-year partnership, Fime will provide consultancy and testing services for AFSOL to support nexo standards compliance. The pair will also drive alignment with major global payment scheme requirements.

AFSOL has selected US-based fintech Fime to drive its digitalisation of payments.

Ensuring interoperability and trust in payment terminal solutions

Fime will help test AFSOL’s payment terminal solution in line with the nexo Implementation Specifications (NIS) v4.0, to be followed by v5.0. This will increase user trust in its payment acceptance solutions by ensuring interoperability.

Officials from AFSOL said they believe that the payment industry should offer merchants open, universal, and cost-effective payment solutions. AFSOL is committed to revolutionising the industry through adoption of open standards, which they have been using to develop universal solutions. As part of this strategic development, they sought a recognised international player like Fime to provide them with long-term support for the certification of their solutions.

Fime’s representatives explained that interoperability and reliability are differentiators in meeting the needs of end users. Their experts will enable AFSOL to develop flexible solutions that deliver convenient and secure payment acceptance. This collaboration is about creating future-proof solutions that can evolve as new payment methods and initiatives emerge. These include innovative frameworks such as the European Payments Initiative (EPI) and the digital euro.

Fime has a long history helping the acquirer ecosystem to adopt nexo and ISO 20022 protocols. As a consultancy provider, Fime helps companies take advantage of the opportunities and benefits that this technology brings and supports migration. As an accredited test laboratory, Fime debugs and certifies nexo POI and acquirer solutions. It utilises NIS specifications and tools for Acquirer and POI, helping optimise solutions, reduce costs, and streamline time to market.

What does ASFOL do?

ASFOL is a France-based editor, pioneer, and player in open and interoperable payment software covering both acceptance and acquisition. Thanks to a rich and urbanised software patrimony accumulated over more than 20 years, AFSOL has prominent customer references among banks, PSPs, and retailers.

Through +700,000 merchants and ecommerce sites connected to its customers, AFSOL solutions process annually +600 million NEXO flows and +5 billion transactions.

More information about Fime

Fime enables its clients to create and launch trusted and secure solutions with consulting and testing services in payments, smart mobility, biometrics, authentication, and open banking. It offers global cross-industry perspective, local insight, and unique heritage in testing and certification. Fime’s consultants provide transformative business expertise, partnering with organisations worldwide to define, design, deliver, and test their products and services.

With 400+ experts around the world, Fime works strategically to help its clients turn ideas into reality, swiftly take products to market, and achieve competitive advantage. Working together, Fime turns powerful innovations into the future of trusted transactions.

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Keywords: digitalisation, compliance, digital payments, EPI, fintech
Categories: Payments & Commerce
Companies: AFSOL, Fime
Countries: World
This article is part of category

Payments & Commerce




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