Challenges of TPP Industry

Growth & Profitability

Maintaining profitability while going for growth at all cost in highly commoditized business

Increasing Regulation

Increasing regulations are creating opportunities but at the same time driving increased costs and decreased revenue

Legacy Platform Modernization

Modernizing platform based on micro-services architecture (API) due to permanent shift towards digital channels & alternative payments

Fraud Detection & Prevention

Protecting merchants from different payment frauds due to increased sophistication of fraudsters

Newer Competition

Agile players like Fintech’s and BAAS companies are posing hyper competition

Increased Focus on Value Added Services

Continuously innovating to add new ancillary services (e.g. transaction data analysis, tokenization, fraud prevention)

Paving the way to the future of Third-Party Payment Processing Industry

Financial services industry expectations will continue to change at a rapid rate and a modern third-party payment processing company needs to provide the capability to easily build new products/services and rapidly deploy at scale to ensure issuers and acquirers can keep pace with consumer and merchant demands. Verinite complements the payment processors with necessary skills, experience and expertise to facilitate legacy modernization, optimize platform maintenance/support costs, add new ancillary services, support scalability through deployment by cloud allowing issuers to manage their infrastructure costs more efficiently than with on-premises deployment, and future-proof their services.