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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.
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