The Greek philosopher Aristotle once said, “The whole is greater than the sum of its parts.” When it comes to guaranteeing that every payment transaction completes as expected, this statement could not be more accurate.
For retail banks, independent ATM deployers (IADs) and payment processors, transactions are the lifeblood of their businesses. Mission-critical functions such as ATM driving, card issuing and merchant acquiring require that every transaction gets routed and processed as expected. Any disruptions in payment service level delivery can have a significant impact on the customer experience (CX), reputation and profitability.
But ongoing mergers, acquisitions and the expansion of alternative and card-not-present payment services have made end-to-end visibility across the payments infrastructure challenging. Today’s transactions often traverse multiple systems, networks, switches, real-time card rails and payments channels: with each piece being managed in individual silos. A fragmented management approach definitely makes it tougher to isolate fraud attacks before major damage is done, and almost impossible to efficiently, and effectively, maintain enterprise-wide operational control.
Read Payments Business‘ latest issue on page 20 to learn how centralized, real-time transaction data collection and cross-functional adaptation are essential when it comes to delivering solutions at a new speed and scale, while continuously improving the CX based on real-time insights into the service and fraud security aspects of every payment transaction.
Read the full article on Payments Business