The payment industry is evolving very quickly, and with it, the need for competitive differentiation. Innovations and integrations must be quickly implemented in the direction the market chooses to take. A payment project might look simple in the beginning, but as business volumes grow, it will require new functionality, features, and expertise.
How can you select a payment platform from a vendor that is able to anticipate and support future growth with new technological innovations? OpenWay, a top-ranked payments technology vendor, asked CTO Dmitry Yatskaer to shed light on what questions companies should consider when selecting a payments software platform:
- How do payment software vendors differentiate themselves when it comes to flexibility?
- What technological capabilities in a platform will give a better ROI and allow quick launches of payments and services? Why are some platforms not up to the task?
- Which vendor principles give companies the most flexibility and independence?
- How can you ensure that the customization that is necessary from a business point of view is manageable and easily updated?
Dmitry Yatskaer is the Chief Technology Officer at OpenWay, with over 25 years of experience in the payment industry. He oversees the Way4 product development strategy and actively participates in OpenWay’s most sophisticated projects. He advises clients on the optimal payment solution architecture, new business line development, and large-volume card and merchant portfolio migrations. Dmitry has contributed to the successful launch of CMS platforms for ACB, Borgun, Comdata, Equity Bank of Kenya, equensWorldline, Halyk Bank, Network International, Nets, SIX Payment Services, and others.
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