Boston, January 21, 2021 – Across the globe, new payment alternatives are emerging, new competitors are entering the payments space, and consumers are increasing their cross-border purchases. The COVID-19 pandemic has also accelerated both contactless/touchless commerce and the migration to digital transactions. Financial institutions that either issue credit and debit cards or process on behalf of merchants are struggling to remain competitive in the face of these changes and are dealing with legacy platforms. Many will need to use third-party software payment processing platforms from vendors that take a variety of approaches and together constitute a complex market.

This report explores the key trends within the payments software platform market and discusses how technology is evolving to address new market needs and challenges. Leveraging the Aite Matrix, a proprietary Aite Group vendor assessment framework, this Impact Report evaluates the overall competitive position of seven vendors, focusing on vendor stability, client strength, product features, and client services. This report profiles ACI Worldwide, BPC, FIS, Fiserv, HPS, OpenWay Group, and TietoEVRY.

This 61-page Impact Report contains 17 figures and 18 tables. Clients of Aite Group’s Retail Banking & Payments service can download this report, the corresponding charts, and the Executive Impact Deck.

This report mentions ACI Worldwide, Adyen, Afterpay, Amazon, American Express, BPC, Braintree, FIS, Fiserv, Global Payments, HPS, Ingenico, Klarna, Marqueta, Mastercard, McKinsey & Company, Nexi, OpenWay Group, Plaid, SIA Square, Starbucks, Stripe, TietoEVRY, Venmo, Visa, Worldline, and Zelle.