Aite Group Report: Making Sense of the Global Non-cash Payments Market
A new report from Aite Group details the diverse and complex global payments-processing landscape. Based on a May to November 2011 Aite Group survey of vendors that serve the payments space, the report profiles 45 vendors whose offerings – broad or niche – support the non-cash payments market.
Despite slow economic recovery, the number of payments generated continues to grow, as does the need to streamline and automate payments processing. Many companies support the payments industry, some distinguished by the parts of the payments process they support, some by the geographic region, some by the types of payments, some by the payments channel(s), and some by specific functionality or purpose. Payment initiators – consumers, businesses, government agencies, and not-for-profit companies – have unique needs, and seek vendors whose capabilities and payments channels can support those needs.
“The complex payments market offers many opportunities for banks to build and strengthen client relationships, cut costs, and increase revenue,” said Nancy Atkinson, senior analyst with Aite Group and author of this report. “Maintaining the status quo with regard to products and services and the technology that supports them will not sustain the payments market going forward. Banks and their vendors need to step up their game by using appropriate and effective technological advancements to enhance their business offerings and results.”
The report identifies payments solutions from 45 vendors: 3i Infotech, 41st Parameter, Accuity, ACI Worldwide, ACS, Financial Services Group, BancTec, BankServ, BillingTree, Bluepoint Solutions, Bottomline Technologies, BPC Banking Technologies, CGI, Clear2Pay, Distra, Dovetail, Earthport, Fiserv, FTNI, Fundtech, Genpact, Guardian Analytics, IBM, Informatica, Infosys, Jack Henry & Associates, Kubra, Logica, Misys, Nucleus Software Exports, Pegasystems, Polaris Software, Progress Software, S1 Corporation, Sentenial, SunGard, SunTec, SWIFT, Syncada, Tata Consultancy Services, Temenos, TSYS, Unisys, WAUSAU Financial Systems, Western Union, and Wipro.