Published: 21 July 2016 by Analyst Penny Gillespie
For IT leaders supporting digital commerce payments, Gartner’s analyst Penny Gillespie published a Market Guide featuring Paymetric: Digital Payment Gateways and Payment Service Providers. The Gartner Market Guide helps explain the key market components and industry direction along with vendor profiles including Paymetric as a leader. Below are highlights from the report.
Key Finding Highlights:
- While payment routing and processing is a mature technology, it is also a critical component of digital commerce. Clients are expressing a renewed interest in these technologies, primarily due to geographic expansion and the need to support new payment types.
- Payments are complex due to the numerous vendors and the differing roles they play; for example, gateways, processors, payment service providers (PSPs), acquiring banks and issuing banks. The technologies that support them (switching, routing, authorization, authentication, settlement, fraud and reconciliation) are also complicated and intricately woven. Clients struggle with both the complexity of payments and the nuances among the various vendors while simultaneously trying to reduce payment risk.
Market Recommendation Highlights:
- Work with constituents across the company to identify the anticipated payment volume for a three- to five-year period, and the channels, geographies and payment types that must be supported when starting this analysis. Treasury requirements for operations and settlement should also be taken into consideration.
- Consider vendor consolidation to simplify operations and to reduce costs, as payment transaction costs are typically based on transaction volume. For example, many processors offer gateway functionality. Vendors offering gateway functionality are starting to support POS and vice versa. Coupling vendor functionality can reduce cost while also streamlining operations across channels as long as all the desired payment types are supported, which may or may not be the case.
For more information or questions on how to navigate the complexities of the payment landscape contact Paymetric at 1-855-476-0134 or please reach out via email to email@example.com