For the last 30 years the payments acquiring market has been dominated by three products: BASE24, Postilion and Connex and the suppliers behind them (ACI, S1 and FIS).
However the times are changing and for these vendors is it tanks on the lawn time? Following the impacts of M&A activity, product maturity decisions and the rapidly changing payments landscape the door has been opened to new entrants as banks and processors look to evaluate their payments strategy.
The challenge for many Vendors is to develop a clear and effective strategy that maximises the opportunity that this presents. The strategic assessment needs to be independent, objective and realistic. Key areas to review include:
PayX’s overriding goal is the enhancement of the payments industry and through our Vendor Partner Programme we work with payments Vendors to help develop successful propositions which offer Banks and Processors next generation payment solutions that future proofs their investment and delivers effective solutions to their consumers needs.
For many this is a time of unprecedented opportunity but will we see a fundamentally different product landscape in the payments acquiring market in the short term? We think change is underway but how the established players respond will be key for how tis plays out over the longer term.