Payments market is going through an unprecedented period of change, driven by new channels and technologies as well as evolving customer expectations for more personalized and seamless services and products.
Acquirers and Issuers are facing increasing difficulty in keeping up with the developments in the payments market. They are faced with a variety of new entrants (mobile network operators, payment service providers, transit operators, handset manufacturers, etc.) to the payments market, both in the cards space and in emerging channels such as mobile and online.
The connected generation want to move seamlessly across all channels and demand instant payment services on their own terms, with 24x7 availability.
The payment ecosystem is becoming more diverse with different vendors offering different pieces of an omni-channel payment solution.
PayCore, however, offers financial institutions and payment service providers an EMV compliant platform that enables comprehensive management of the entire life cycle of credit, debit and prepaid card products for payments across all sales channels and devices.
All required components are integrated in a single environment to issue and manage VISA, MASTERCARD, AMEX, DINERS, UP, JCB cards that can be offered as magnetic stripe, EMV contact / contactless, virtual and mobile instruments.
Migration of legacy platforms to PayCore unified payment platform helps Acquirers and Issuers with rapid adoption of emerging payment channels, providing a seamless customer payment experience in any payment acceptance location (retail, mobile, online, etc.) with both on premise and hosted delivery models.