We already know that the payment processing industry has been evolving immensely, especially with a sudden shift in online and otherwise contactless payments due to the pandemic. In fact, many businesses are looking for high-risk merchant account providers to help process these payments easily and cater to a growing online clientele.
Amadis Introduces OLA
As technologies continue to revolutionize payment processing, Amadis, one of the leading names in the electronic payments industry, has introduced a new standard that will streamline the interface between EMV Level 2 stack and Level 3 payment applications regardless of location, device, or operating system.
Open Level 2 API (OLA) is essentially a type of programmable interface that covers the gap in the payment processing ecosystem—the EMV L2 API. Defining the interface between Nexo and EMV domains, OLA is also generic enough that it can cater to other domains in the future.
Since it was designed to be universal, this interface will easily allow third-party providers and merchants to add the L3 payment application on top of their EMV L2 stack to accelerate payment processing, lower production costs, and offer better flexibility for both businesses and customers.
Amadis CEO and co-founder Emmanuel Haydont explained this innovation: “Before Amadis’ proposed OLA, there was no standard way for L2 and L3 to interact. The absence of a standard interface has resulted in a huge potential for variation, and possible customization requirements when building out payment solutions. The OLA standard encourages innovation by eliminating technical dependencies while helping merchants to drive down costs, and bring payment products to market faster.”
Streamlining Payment Processing
The introduction of OLA will bring huge advancements to the payment processing industry by creating a standardized and more streamlined process for L2 and L3 applications to communicate seamlessly.
Its simple payment architecture also makes it easier to integrate with L3 payment applications for POI services like OS, security, and L2 Kernel as well as generic application developments that support EMV payment terminals.
The OLA system is evaluated by Nexo, which is a global association that aims to remove barriers in today’s very fragmented global payment processing market.
Getting to Know Amadis
OLA is just one of the many innovations that Amadis has up its sleeve. As one of the top companies in payment card acceptance software technology, the Amadis system currently runs on more than 50 million devices around the world and it continues to drive the evolution and development of the payment processing market, a feat that it has done for the last 15 years.
The company also offers frameworks, software products, and other smart and innovative solutions for payment processors, payment terminal manufacturers, and global merchants to streamline their own processes and make transactions easy for customers.
With Amadis bringing these innovations to over 23 countries, we can certainly look forward to the best technologies in the payment processing market in the future.