The Challenge
The payments space is fiercely competitive and changing at breakneck pace. With consumers transitioning to cashless transactions, digital commerce continuing to boom, and commercial entities shifting toward electronic transactions, incumbents and upstarts alike are facing tremendous challenges and opportunities.
The Solution
Here are a few ways Solace helps companies build payment processing systems that meet the needs of today’s demanding customers and dynamic marketplace:
- Decouple customer-facing services from back-end applications to enable the rapid introduction of new services without impacting core processing systems
- More easily connect with businesses and issuers by supporting all of the most popular APIs and protocols
- Improve application reliability and responsiveness by enabling smarter capacity planning, on-demand scaling, and faster identification and resolution of problems
- Enable sophisticated real-time web and mobile apps with fully integrated streaming capabilities
How Solace Helps Established Payment Processors
The leading payment processors have amassed huge volumes of information over the years, and assembled complex sets of processing and storage technologies to manage it.
Solace helps these firms unlock data stored in legacy systems and efficiently distribute it to powerful new analytics engines along with end users via web and mobile apps. This lets them make smarter decisions, monetize all of the information at their disposal, and easily add innovative services to their portfolios without disrupting core back-end systems.
How Solace Helps Benefits for New Payment Processors
Unencumbered by historical data and outdated infrastructure, new entrants to the market can quickly attract customers with innovative offerings in areas such as micropayments and mobile transactions. The lower volume of transactions also makes it easier for them to capture and use that information to help businesses and credit card issuers better understand the behavior of customers within segments and across markets.
Solace establishes efficient flows of reference and transactional data between customers and the rapidly-evolving tools and technologies they use to securely process payments.