The Payments industry is in an unprecedented period of disruption with the most radical changes ever occurring now. In the aftermath of the financial crisis, payment systems have moved from vertical to infrastructure with governments taking greater control due to the critical nature of the payments systems to the stability of any country. This has also led to issues around “globalisation” vs. “protectionism” creating conflicts by preventing entry into certain markets. At the same time many institutions have been forced to review their processing platforms, based on the activities of the market leading vendors including:
“ACI strategy to move clients from BASE24-classic to BASE24-eps, the change in support for ON/2 & OpeN/2 products, FIS merging IST, Connex and Cortex following its purchase of Metavante and significant market moves by companies including Wincor and Clear2pay”.
The 2011 edition of the ‘Card Acquiring and Switching Products: An Independent Assessment of Products and Suppliers’, when delivered with a series of standard workshops, assists customers to navigate through the maze of choices available to them through the provision of market intelligence, strategic advice and payments expertise. PayX are the only provider of Independent Knowledge Services helping customers make informed decisions and achieve timely advantage through a proven programme called PayX-DPE™.
One major USA Bank comments that, “through the initial program and workshop with PayX, it has saved 6 months of internal analysis and planning and prevented engaging in a number of fruitless exercises which would have led to dead ends”.
The PayX-DPE™ vision harnesses the knowledge, market breadth and experience of PayX and provides an industry-strength framework on which to build a future-proof plan. The announcement of the 2011 version of the Card Acquiring and Switching Products Comparison Report provides greater, in-depth information and analysis of the leading vendors in this market together with a broader view of complementary products included in some vendors’ portfolios.
Through the key phases of “Discovery”, “Planning” and “Effect”, PayX-DPE™ brings together the three dimensional picture that is driving banks to develop their 5-10 year strategy for their Card Payments Platforms, namely:
• The choice that has to be made
• The risks associated with making that choice
• The process that facilitates the transition, once the choice is made