Modernize or risk disintermediation: A global payment services leader reinvents merchant settlement
The pandemic accelerated the adoption of digital payments, and payment service providers of all types are now moving forward. But, to meet the enormous demand for new services like cross-border payments, real-time payments, digital wallets, and blockchain payments; reputable payment providers have to be prompt, secure, and responsive of digital payments.
HFS in partnership with Infosys surveyed 150 payment providers to understand their requirements and received exciting results. Click here to read the report
To further explore this, HFS connected with an Infosys customer (a 172-year-old payments provider) to talk about modernization, transformation, and its execution. The end-to-end partnership with Infosys transformed the client’s inflexible legacy mainframe to a modern configuration-based system that offers speed and agility, which is required to satisfy the rapidly changing and complex needs of merchant settlement across 200+ countries.
Key findings
- Infrastructure modernization: Payment modernization is the top investment priority for payment providers as they gear up to offer an expanded array of digital payment capabilities
- Partnerships: Partners are the catalysts helping payment providers modernize their infrastructure and transition across Horizons
- Unlock lucrative value pools: Infosys deploys an entirely reimagined merchant settlement architecture that unlocked massive value. The architecture includes configurable agent commission and sales models, speed to adapt to new compliance requirements and streamlined reporting
Download below to read the full viewpoint.
