Who are the real challengers in the payments space?

Posted by on

So much of the UK’s traditional banking and payment infrastructure sits astride a very old and creaking rocking-horse. One that may look very nice in the corner of your living room, but chances are you’re a bit afraid it may no longer take your trim weight for more than a second or two.

UK challenger banks are taking a different route, and are leveraging EU Passporting to bring you & I better banking.  The names Atom, Revolt, Starling and Monzo are not necessarily high street names that you see every day, but the young and flexible millennials are adopting them in their droves.

The modern generation don’t really understand why anyone would want to go to a bank; in the same way we look back at the lost art of letter-writing, the clunky-ness of a fax machine, or the single-use capability of a waist-mounted pager. 

Banking and Payments are changing rapidly and variety of Alternate Payment Methods shows how much power has now transferred to the consumer. 

On the news this week was Barclays whose mobile App can now offer you the ability to control your spontaneous spending at certain merchants, like betting shops.  Wow, really?  Some of us have been offering this merchant control feature to our clients for years already. This and many other great features come ready-built inside the OmniPayments solution.

If you want to know how OmniPayments can help you engage with all these new payment methods, and offer flexibility to your customer, read on.
OmniPayments takes a 21st century approach to payments.  We recognise that modern systems require a number of key characteristics:


  • ·      Flexible APIs
  • ·      Rapid implementation times
  • ·      Robust Security
  • ·      Active/Active built-in
  • ·      Dynamic transaction least-cost Routing
  • ·      Support for low and high value payment
  • ·      Wide support for all devices
  • ·      Broad interchange & Card scheme support
  • ·      Instant Payments
  • ·      Cloud or On-prem deployment

OmniPayments on-prem, cloud, and managed solutions bring a diverse array of choices to the payments world.  A product built to meet the demand of the modern payments business, with a flexibility to allow you to adapt to your business needs, while staying secure and keeping your company out of the less favorable headlines.  For more information, please contact your local client representative at OmniPayments. 

 Craig@omnipayments.com

Comments

Post a Comment