Card Acquiring Products: An Independent Assessment of Products and Suppliers

  • ID: 1055013
  • Report
  • 73 Pages
  • PayX
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FEATURED COMPANIES

  • Alaric (Authentic)
  • BPC (SmartVISTA)
  • Distra (Distra Switch)
  • Euronet (ITM)
  • HPS (PowerCARD)
  • Kabira (Kabira Switch)
  • MORE
A rare opportunity to have a horizontal view of the top product vendors in the industry.

The authoritative source providing banks and processors with a pragmatic and unique insight into the world’s top Card Acquiring Payment Software Solutions and the Product Companies behind them.

Presented in one publication it delivers the results of an in-depth analysis by an elite team of industry experts on the card acquirer payments top 14 software products. An enlightening real insight into the products, experiences from the industry and details on the companies behind them. Utilised by Banks and Processors for comparative assessments and due diligence it provides an unparalleled level of quality input for better informed decisions and saving any organisation a significant amount of time, effort and risk.

Demand from Banks and Processors for this report is fuelled by unprecedented recent changes in the card acquiring software business including announcements of the intended “end of life” status on ACI’s flagship product BASE24 Classic, consolidation and convergence such as S1 and Metavante, as well as increased industry pressures for higher service levels, efficiencies and lower total cost of ownership.

The horizontal view is outlined by several key questions:

- Who are the leading vendors?
- What do their products cover and how do they perform in reality?
- What is their corporate and financial risk profile?
- What is their direct geographic reach?
- How does their partner network operate and how does it perform?
- What complimentary products do they have?
- How effort and skills intensive is it to operate and maintain?
- How comprehensive is their channel support?
- What is their product level of configurability?
- What does their product support on different hardware, operating systems and databases?
- What is their recoverability approach and availability performance?
- What metrics do you use to objectively compare the products/companies?
- Would existing customers buy it again?

There are three main reasons why your organisation needs this report:

1) Due Diligence - To quickly perform sufficient examination of the industry alternatives to your card payments software to fully understand the benefits and differentials to justify keeping your current product.

2) Selecting a new product - Quickly read in-depth reviews of other products and their companies and assess them against your corporate values and requirements.

3) To improve your negotiation position with a supplier - Being better informed about the market, the competitive products and their scope of coverage enables you to strengthen your position with your current ard payment supplier.

Who will benefit from reading the report?

- Executives;
Digest the analysis of the product companies and their products at a glance to enhance informed strategic decision making of who the right partners are not only for today but also for the next 5-10 years.

- Technical Directors;
Understand the technology, architecture and performance behind the products to evaluate the best solution for your IT needs.

- Card Business Managers;
Which products can really deliver fast time to market? Understand the power of the products and their companies to be informed of how to keep your business ahead of the game through smooth translation from business requirements to technology execution.

- 3rd Party vendors and Suppliers;
Understand the top credible players in the Card Acquiring Software market and gain an insight into their capabilities. How do they differ from you? How real a competitor are they? What technology is behind their product? How well do they deliver? What is their roadmap and how soon?

- Card Payment Processors;
Understand the technology and ability to deliver for the card payment software companies in the market today. How do the decisions that your customers make about their card payment solutions affect you?

- Equity Investment funds and Venture Capital:
The payments products supplier structure has been stable for many years, however the industry has seen unprecedented change through the last 18 months with many more changes set to come. This report enables a clear insight into different product and company mixes that could, under the right encouragement, emerge as the new market leaders. This report is an invaluable independent source for assessment

Scope and purpose:

- The research and our analysis for this report was carried out by industry experts within card-based payments processing. It is both vendor and product independent.

- It has been designed to provide banks and processors with a level of information beyond that which could be captured by the most rigorous Request for Information process, enabling them to make an informed decision on the options that they currently face and, where appropriate, move to a procurement based upon sound, validated research.

- It also provides useful information for other organisations, such as organisations considering investment in the industry and vendors wishing to benchmark themselves and their products against their competition. It has, however, been created primarily for banks and processors.

- The unprecedented changes now taking place in the industry have potentially presented other companies with an opportunity to capture a share of the market for card-based payments processing systems. The report also comments on the ability and likelihood of selected organisations or types of organisations to do so.

Summary:

The card-based payments processing industry is entering an unprecedented period of change. Mergers and acquisitions, regulatory and economic pressures, new competition from organisations such as PayPal and increased expectations of organisations and consumers are all driving the industry forward and into uncertain yet promising times.

The report looks at other players in the market that for the first time can really be viewed as real players and competitors against the legacy systems and the “leaders” that owned the lion’s share of the card payments market. We will see many new entrants and competitors in this market as the new products and channels develop over the coming years and become real and viable contenders for banks and processors worldwide.

Newer product companies may have an edge as the market will now have to develop and adapt at a pace that is quicker and more demanding than ever in the past. Organisations that keep informed, stay ahead and take advantage of the new developments are likely to see greater returns and rewards.
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Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Alaric (Authentic)
  • BPC (SmartVISTA)
  • Distra (Distra Switch)
  • Euronet (ITM)
  • HPS (PowerCARD)
  • Kabira (Kabira Switch)
  • MORE
EXECUTIVE SUMMARY

Background
Scope and purpose
Vendors featured
Vendor categories
Summary

METHOD

Introduction
Shortlisting
Research
Analysis
Metrics

ASSESSMENT CRITERIA

Approach
Interpreting the results
Company status considerations
Geographic considerations
Technical considerations
Company size and focus
Direct geographic presence
Combined geographic presence
Complementary products
Channel support
Configurability
Hardware, operating system
and database support
Communications protocol support
Availability and recoverability

PRODUCT AND COMPANY REVIEWS

ACI Worldwide
BASE24
BASE24-eps

Alaric
Authentic

BPC
SmartVISTA

Distra
Distra Switch

Euronet
ITM

FIS
Connex
IST/Switch

HPS
PowerCARD

Kabira
Kabira Switch

Metavante
Cortex

OpenWay
WAY4 Switch

Postilion
Postilion

RS2
BankWORKS

Tieto
Tieto Card Suite

PRODUCT AND COMPANY SUMMARY
Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • Alaric (Authentic)
  • BPC (SmartVISTA)
  • Distra (Distra Switch)
  • Euronet (ITM)
  • HPS (PowerCARD)
  • Kabira (Kabira Switch)
  • MORE
The card-based payments processing industry has seen many changes since the first ATM activated by a magnetic stripe card was installed in 1969. Until recently, and assisted by the creation of an industry of software product vendors, these changes have been sustainable. Over the last few years, however, four factors have called into question how long this sustainability will last:

- Increased regulatory pressure, such as the Payment Services Directive (PSD) in the European Union and the Payments Card Industry Data Security Standard (PCI DSS)

- Increased financial pressure, both through the significant decline in the market value of loans and increased competition for profitable customers

- A less competitive marketplace amongst vendors of card-based payment processing systems due to mergers and acquisitions

- The announcement by the dominant vendor of such systems, ACI Worldwide, that it will no longer be enhancing and maintaining its BASE24 product and will be focusing its efforts on delivering solutions such as BASE24-eps based on the IBM System z platform.

This has left organisations currently running cardbased payment processing systems with a limited number of options:

- Continue to run either their current inhouse system or a replacement, either from the same vendor or a competitor

- Outsource the processing to a third party

- Exit the card-based payments processing business.

Against this background and faced with these choices a number of banks and processors approached PayX for help. They felt that, whilst their own staff knew the local market, the processing product that they are currently using and their own requirements and constraints in considerable depth, they did not have the breadth of knowledge of competitive products and the international marketplace to make a fully informed decision on which option to select. By augmenting the knowledge and experience of their own staff with an independent assessment of the state of the market they believed that they would be better placed to determine what their choice should be.

The result is this report.
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The vendors and products featured in the report are:

- ACI (BASE24 and BASE24-eps)
- Alaric (Authentic)
- BPC (SmartVISTA)
- Distra (Distra Switch)
- Euronet (ITM)
- FIS (Connex and IST/Switch)
- HPS (PowerCARD)
- Kabira (Kabira Switch)
- Metavante (Cortex)
- OpenWay (WAY4 Switch)
- Postilion (Postilion)
- RS2 (BankWORKS)
- Tieto (Tieto Card Suite)
Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown
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