The payments landscape is changing rapidly. Today, consumers have more payment options than ever before. This is primarily due to the unprecedented rise of FinTechs, PayTechs, and neo-banks, which introduce faster, innovative, and convenient transaction methods such as Buy Now Pay Later (BNPL), digital wallets, Request to Pay (R2P), embedded payments, and digital currencies. The increasing prevalence of digital payments and consumer demand for seamless instant transactions are driving the adoption of real-time payments systems. New regulations and standards, such as ISO 20022, are paving the way for faster and more efficient payments. These new data standards offer numerous opportunities for data monetization. Financial institutions are investing in modernizing payment infrastructure to support instant payments, leverage monetization opportunities, provide alternative payment methods, and launch digital currencies.
This compendium provides comprehensive and fact-based snapshots of 30 providers featured on the Payments IT Services PEAK Matrix® Assessment 2023. Each profile offers a comprehensive view of the provider’s vision and strategy, practice size and scale, scope of services and solutions offered, investments, partnerships, case studies, and key strengths and limitations. The compendium will enable providers to benchmark their capabilities against their peers, while enterprises will be able to assess the providers based on their desired set of capabilities.
In this report, we evaluate 30 payments IT service provider profiles and include: