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 of OpenWay, the top-rated vendor of the Way4 digital payment software platform. He oversees Way4 product development strategy and has over 25 years of experience advising banks, processors, fintechs, and other payment players in Europe, MENA, the Americas, and Australia on optimal payment system architecture, new business development, large-scale card and merchant portfolio migrations, and more.
OpenWay is the developer and provider of the Way4 digital payments software platform for tier-1, mid-size and startup players – including card issuers, acquirers, processors, telcos, payment switches, fleet companies, and digital wallet providers. Gartner, Omdia, and Aite have ranked OpenWay as the best digital payments software provider and the best payment solution in the cloud.
