TECH BUYER Feb 2020 - IDC MarketScape - Doc # US46024520

IDC MarketScape: Worldwide Integrated Payment Platforms 2019-2020 Vendor Assessment

By: Aaron PressResearch Director, Worldwide Payment Strategies

Abstract

This IDC study is an assessment of worldwide vendors that provide an integrated payments platform solution. For the purposes of this study, IDC Financial Insights defines an integrated payments platform, sometimes referred to as a payment hub, as a solution that enables the processing of multiple payment types across FI retail and corporate lines of business within a single management context. In some cases, these implementations serve as the sole processing platform across most payments, while, in others, they serve as both a processing platform for some payments and a management orchestration layer across legacy systems.

According to Aaron Press, research director at IDC Financial Insights, "The ultimate goal for processing payments should be that any and all payment messages are received and can be processed using any and all payment schemes available. Since payments are changing so rapidly, so must vendors' thinking about their innovation in processing platforms. Financial institutions should be looking for an integrated payment platform from a vendor that provides a clear long-term strategy and supports features that differentiate it as a true innovator."


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