Content produced in association with ACI Worldwide. Click here to learn how to promote your business on PaymentEye.
Why do open payments matter?
With the arrival of omni-channel and cross-border payments, open payments and infrastructure in the payments industry are a necessity.
Merchants working multinational and multichannel need to manage multiple end-points to different channels, payment methods, or local acquirers. Those who can provide a single, technical gateway with one accessible API into hundreds of potential end-points will be the ‘winners’ in the industry.
But the payments industry has been slower to develop open solutions than other industries thanks to its reliance on security, along with issues of compliancy, costs and legacy systems.
ACI Universal Payments, together with First Annapolis Consulting, has published a whitepaper, ‘How does openness apply to payments?’, which explores why the issue of openness in payments is so timely and important. It includes:
- An in-depth look at the evolution of open payments
- Practical insights that Payment Services Providers can use to apply openness to their business
- A look at how companies like Square, Visa and EMVCo have already put openness into practice.
Click here to download the whitepaper, or scroll down for an infographic by ACI about the benefits of openness in payments.
Related reading
Simplified IBAN management crucial to banks and payment institutions
Banks, payments providers and those looking to move money across territories are looking to simplify their processes through clearer and integrated IBAN ... read more
Regulations drive payments growth
The EU’s second payments directive (PSD2) and the UK’s Open Banking initiative are encouraging competition and opening access to payments services, according ... read more
Link sets out to protect UK cash
Despite ATM withdrawals falling 6% year on year, Link, the UK’s ATM network, is “fighting the retreat” for the 2.2m people solely ... read more
The SME technology revolution | video
The UK is home to 5.4m micro SMEs that have fewer than nine employees, according to the House of Commons library. They ... read more
