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Digital Payments News

Payments Hub Market and Current Vendor Solutions Overview

by Fintech News DeskSeptember 3, 20210
Payments Hub Market and Current Vendor Solutions Overview

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

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.

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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.

Read More: Technisys Appoints Banking Industry Veteran Kathleen Yeh as New Head of North American Product Compliance

“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.

Read More: PhonePe Launches the “Pulse” of Digital Payments, India’s First Interactive Geospatial Website

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.

Read More: WAX Blockchain Announces Ethereum Virtual Machine and Ethereum Bridge Development and 100 Million WAX Token Fund for DeFi Innovation
Application Programming Interfacesbank deliveryCloud DeliveryPayments Hub MarketVendor Solutions
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Fintech News Desk
Fintech News Desk is a trained group of web journalists and reporters who collect news from all over the financial technology landscape. The financial services innovations include latest and advanced developments related to Digital banking, wallets, AI, ML, IT, Cloud Security, Privacy and Security, Cyber threat intelligence, Space, Big data and Analytics, Blockchain, and Crypto. To connect, please write to Fintech market analyst at sghosh@martechseries.com.

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