Retail payment services work behind the scenes in the engine rooms of commerce, representing vital links in the global financial chain. Payment service providers help retailers accept payments electronically, by credit card or bank transfer, and manage transactions between buyers and sellers while offering optimum security against theft and fraud.
Today, from card issuers and acquirers to ISVs and gateways, payment service providers are working to simultaneously embrace new technologies with AI and machine learning to align with the growing customer requirements. The end result is a dramatic evolution in how payment products and services are being built, deployed, and utilized. As part of this transformation, a variety of trends including mobile wallets and adoption of blockchain are emerging, that are reshaping the payments value chain.
Meanwhile, with popular messaging platforms enabling e-commerce, virtual peer-to-peer transactions are becoming more real and adaptive. Facebook Messenger, WhatsApp, and WeChat give billions of their users the power of new e-commerce – with instant in-app payments.
At this juncture, there is a wide array of service providers entering in the industry with a set of advanced and integrated payment service offerings.
To help organizations find the right payment service providers/consultants, a distinguished selection panel comprising of CEOs, CIOs, VCs, industry analysts, and Retail CIO Outlook magazine’s editorial board has selected a list of payment service/consulting companies that exhibit innovative capabilities and strategies.
We have considered the vendor’s ability in delivering solutions and services that can effectively yet economically account for a productive payment service offering, keeping in mind the factor of time-focused delivery.
We present to you Retail CIO Outlook’s “Top 10 Retail Payment Consulting/Services Companies - 2018.”