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Payments Hub Market and Current Vendor Solutions Overview
Friday, September 10, 2021
A new Mercator Advisory Group research report reviews developments in the payments hub space as technology advances, new payments methods begin to proliferate, and cloud delivery methods expand.
BOSTON, Sept. 2, 2021 /PRNewswire-PRWeb/ -- The original payments hub architectures are roughly 15-20 years old and not necessarily relevant in the new age of technology. The latest generation architecture allows for a new set of requirements, in particular open application programming interfaces (APIs), which need to interface with older systems without requiring major rewrites. The new generation of payments hubs are aimed at facilitating communication and integration with a wide variety of products and services. A new research report from Mercator Advisory Group, Payments Hub Market and Vendor Solutions Overview: Technology Advances Offer a New Perspective, reviews nine vendor solutions with respect to key categories and attributes.
Interest in the payments hub space has grown during the past several years as new technology has become available that provides flexibility to manage a hub in different ways, migrating away from the predominantly bank-hosted deployments of the past. The new era reflects the increase in cloud delivery capabilities and as-a-service models that have appeal to broader asset classes of financial institutions lacking the capital expenditure resources to install and manage payments hub infrastructure. We chose an array of vendors who have solutions that continue to move in this direction, in order to better understand this new generation of hub capabilities.
"There are new instant payments rails, a transition to global messaging standards, and alternative payment types facilitating cross-border transactions," commented Steve Murphy, Director of the Commercial and Enterprise Advisory Service at Mercator Advisory Group, the author of this report. "So now is a good time for financial institutions to assess their hub capabilities, and in cases where a bank doesn't have one, determine if now is the time to adopt a hub approach."
Highlights of this research report include:
-- A detailed framework to evaluate key categories and attributes
associated with a payments hub.
-- Vendor profiles and nine separate hub solution summaries.
-- A summary comparison of all vendor solutions by key category.
-- Recommendations for which vendors may suite particular bank delivery
needs.
This report is 16 pages long and has 13 exhibits.
Companies Mentioned in this Report: ACI Worldwide, Bottomline Technologies, IBM, Finastra, FIS, Fiserv, Modo Payments, Temenos, Volante Technologies
Members of Mercator Advisory Group's Commercial and Enterprise Advisory Service continuous advisory practice have access to this report as well as the upcoming research for the year ahead, presentations, analyst access, and other membership benefits.
For more information and media inquiries, please call Mercator Advisory Group's main line: 1-781-419-1700, send email to media@mercatoradvisorygroup.com.
For free industry news, opinions, research, company information and more visit us at http://www.PaymentsJournal.com.
Follow us on Twitter @ http://twitter.com/MercatorAdvisor.
About Mercator Advisory Group
Mercator Advisory Group is the leading independent research and advisory services firm exclusively focused on the payments and banking industries. We deliver pragmatic and timely research and advice designed to help our clients uncover the most lucrative opportunities to maximize revenue growth and contain costs. Our clients range from the world's largest payment issuers, acquirers, processors, merchants and associations to leading technology providers and investors. Mercator Advisory Group is also the publisher of the online payments and banking news and information portal PaymentsJournal.com.
Media Contact
Karen Yetter, Mercator Advisory Group, 781-419-1700, kyetter@mercatoradvisorygroup.com
Twitter
SOURCE Mercator Advisory Group
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