Flexible Payment Solutions Begin with Modular Component Options

Do you enjoy modular flexibility?

Independent software providers (ISVs) and System integrators are a unique breed of suppliers in the payments industry. On their shoulders lie a lot of the success of the industry and it is their ability to provide robust, secure, trouble-free solutions that can make them a success or a flop.

One of the keys to ensuring success is to pick the right partners and suppliers. One who can offer you maximal flexibility with minimal restrictions. In today’s global economy, there are an infinite number of suppliers who can be chosen to work with. Herein lies the problem; too many options make it hard to find the optimal choice, making your decision difficult and time consuming.

To realize the fruits of your labor, there are basically two different types of vendors/suppliers that you can work with. Either a big established company with a varied product range. Or a smaller vendor with a single, or limited product offering.

 

Big forests

In many cases, option number one – the bigger company – can be a one stop shop for your needs but it is also likely to be a ‘one big stop’ from giving you the flexibility you require to develop your own custom solution. In many cases, you will be coerced into taking other parts of their solution that you may not want and you may end up getting stuck in a ‘take it or leave it’ relationship that is counter-productive to your goals. In many cases you will be stuck with a closed system without SDK’s or API’s. It’s no secret that the bigger the solution provider may be, the less likely it is that you will enjoy personalized support from them. In other words, an extensive product line without modularity and flexibility might not be a good decision for you in the long run.

 

Small gardens

On the other hand, option number two – picking individual, smaller vendors – will mean having to deal with multiple suppliers and possibly multiple cases of interoperability challenges. They might be open, but require a lot of custom software development to work with your other components. On top of that, new and/or smaller suppliers might not have a dependable enough track record of product development and robustness and might be weak in ongoing support. This can lead to multiple headaches during the development phases that can continue even after your solution is up and running.

 

The open garden

There is a third (and easier) option. That is to pick a vendor or solutions partner with a proven track record of innovation and customer support as well as having a wide range of products and services so that you can deal with as few entities as possible. If their system was open, if you could get SDK’s and API’s that would be top-notch. Ideally, they would also be big enough to have the experience, expertise and product offering to cater to your needs while not being too big to provide personal, professional, ongoing support. That way, you could derive from the relationship great benefit and added value. If you are lucky enough to find that kind of partner, you’ll get your solution up and running quickly and efficiently, with as few problems and setbacks as possible.

Down the line, (and the bottom line); finding a partner who can assure YOUR success in the long run by giving you all the flexibility and modularity under one roof is the easy, quick road to achieving your goals and meeting customer and consumer expectations!

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