Positioning PSPs for Success in 2020: Scalability, Flexibility and Globality
We used to say that NFRs (non-functional requirements) such as scalability and availability didn’t really make for attention-grabbing headlines, but in fact, 2019 has shown us that these NFRs are often not far away from the biggest stories. A major outage or downtime – be it for bank or merchant – makes headlines in its own right, but we’re increasingly seeing a clear link between NFRs and a company’s growth trajectory. Those companies that are generating positive awareness from their ambitious global expansion plans, innovative customer experiences, or unique approach to fighting fraud – they are achieving this off the back of technology solutions that deliver world-class non-functional requirements. Scalability, flexibility and globality underpin these growth stories – and this message comes out clearly in speaking with some of our leading payment service providers (PSPs), which are supporting the growth of thousands of merchants around the world.
Alex Leigh, Director of Sales, Total Processing
We’ve experienced rapid growth in the past three years, which is great, especially given that growth is taking place across a number of different sectors and verticals. Our goal is to help merchants address the major challenges they have in today’s market; checkout optimization and increasing conversation rates, setting a fraud strategy that is tailored to specific business needs, and connecting to the right international and local acquirers that will enable growth.
By tapping into ACI’s global network, we have hundreds of acquiring connections around the world, and that’s a huge benefit to both us and to the merchants we serve. That pre-existing technical connectivity provides our merchants with the flexibility they need to optimize their acquiring strategy and really helps us to add value to our customers.
Total Processing is a UK-based PSP providing tailored services to merchants via a network of 300 acquirers.
Felipe Serrao, Head of Europe, Primeiropay
We started five years ago in Brazil and it was a very challenging market – understanding all the regulations and all the banks we had to connect into from a technical perspective. From Brazil, we were able to successfully expand into Mexico, followed by Chile and Colombia. We expect that 2020 is going to bring further growth, as eCommerce continues to evolve rapidly across various markets and creates new opportunities.
We strive to deliver an experience to merchants that fits the markets that they serve – and from a technical point of view, integration with a single API greatly helps.
ACI has been our partner of choice, because if we look at what is needed to enter new markets in Latin America, it is a reliable and cost-effective solution that enables rapid expansion through connectivity to a broad range of alternative payment methods and local acquirers. Such flexibility is critical to our go-to-market, which requires consideration of the local regulations, expectations and habits of consumers in each market that we operate in – now and in the future.
Primeiropay provides cross-border payment services to merchants that want to enter Brazil, Mexico and other Latin American markets, serving the travel, gaming, digital and retail sectors.
Find out more about how our eCommerce payments solution is helping PSPs to grow their business.
Related Blog Posts
How to Meet ISO 20022 Migration Deadlines for Fedwire and SWIFT
Over the next decade, we will undoubtedly see huge shifts in how financial institutions throughout North America transact, whether domestically or across international borders. This will be driven not just by changing technologies, but also by regulatory events – such as the widespread adoption of financial messaging standards like ISO 20022.
How Can European Banks Meet the ISO 20022 Migration Deadlines for TARGET2 and SWIFT?
First published in 2004 – and already broadly used in some quarters – ISO 20022 is rapidly set to become the de facto standard for financial messaging around the world, replacing MT messages.
The Pathway to Global Real-Time Payments: What Will Be the Impact of SWIFT and ISO 20022?
The whole world is moving toward the ISO 20022 standard, and almost in unison. Globally, most major currencies are planning to shift to the new data-rich standard for either high-value payments or immediate payments (high value being global messaging via the SWIFT network or an RTGS scheme).
Digital Payments Overlay Services: Accelerating Real-Time Payments Growth
The global real-time payments landscape is transforming every day, as the world moves toward payments that offer a multitude of digital payment overlay services that drive consumer experience and adoption. But what are digital payment overlay services? They are ancillary services that often ride the real-time payments rails, and can be flexible, nimble drivers of innovation. These digital services – piggy-backing on the standard real-time payments rails – not only add value to core payments, but also bring about convenience and ease of use for all participants in the payments ecosystem.
Real-Time Payments: Global State of Play, Lessons Learned and How to Make Money
There is a lot of noise around real-time, immediate and instant payments. These interchangeable phrases are generally used to discuss the development and domestic rollout of non-card-based methods of payment that provide real-time notification of payment and fast settlement. So, given all of this ”noise,” where are we on the journey, what have we seen work (and not work) and can we make money from real-time payments?
Request for Payment and Other Real-Time Payments Trends That Will Shape 2020
In 2020, the conversation around real-time payments will increasingly be about what banks can do with real-time, as they move beyond setting up to support real-time payments schemes. New use cases will emerge – but there are a few main trends that are likely to shape the direction of real-time in the year ahead.
Nordic’s P27 Powers Ahead with Cross-Border Payments
P27 continues its accelerated journey to cross-border payments in the Nordic region, with an ambitious project scope and timeline. For banks, processors et al, this poses questions of prioritization. Payments players must identify their most pressing business needs, and what can be achieved with their current stack.
How India is Tackling the Challenges of Digital Payments Growth
India’s massive transformation from a cash-based society to a cashless society is underscored by the rise in fintech adoption and the growth of the Unified Payments Interface (UPI) platform, which is now processing more than one billion transactions each month.
What’s Next for Nordic Payments? P27 and the Rise of Real-Time and Cross-Border
The Nordic region has long been considered a pioneer of digital payments, with some of the lowest cash usage levels in Europe; however, the impact on cross-border payments has been limited when compared to progress on the domestic front. And this is a crucial area to address for a region with large volumes of trade and tourism between neighbors, as evidenced by the fact that 18,000 Swedish workers commute to Denmark on a daily basis. Not surprisingly, improving the cross-border payments experience and efficiency is a high priority.
Digital Overlay Services Unlock the Value of Real-Time Payments
The global payments industry continues to drive toward true real-time, with the potential opportunity for corporate banking often cited as the most lucrative.