Acquirer Systems, a global leader in the provision of test and validation solutions to the payments industry, is pleased to announce the release of its new industry whitepaper for Merchant Acquirers and Card Issuers entitled “Are you ready for Switch Migration?”. As the challenge of payment switch migration continues to rise on the board-level agenda of payments processors, Acquirer Systems is sharing its insight and experience of successful payment switch migrations in this guide on how to navigate a successful migration.
Consumer demand for instant payments and the rise of Internet and mobile channels are transforming the payments landscape. As worldwide payment volumes increase and new ways to pay are being added to the mix, older payment switch platforms including the dominant BASE-24 platform are being retired. With customer satisfaction and bottom-line results so dependent on switch performance, the industry is looking for new models and solutions for payment switch deployment.
The payments switch is the hub for the great majority of customer interactions and, as a result, migration places a payment firm’s business at risk for the duration of the project. Payment switch migration is an intensive and complex project involving a range of internal and external stakeholders, and it comes with a multi-million dollar price-tag. As a result payments firms are searching for more effective ways to control project risk, costs and time-overruns.
Aidan Corcoran, CTO of Acquirer Systems, commented, “One of the key challenges for payment firms today is how to keep their payments infrastructure optimized to support the needs of consumers and increasing payment volumes. Time is running out for legacy switch platforms, but migration is a complex challenge, often described as the payments industry’s equivalent of a heart transplant. Increasingly, customers are seeking out our advice on the options available to them achieve a timely and low risk payment switch migration.”
Acquirer Systems’ in-depth whitepaper presents new insights on payment switch migration resulting from the company’s success in helping global customers migrate from legacy switch environments to new platforms. The paper examines why switches are under increasing pressure, how payments strategy should drive migration decisions and what the options are for switch replacement. The whitepaper also utilizes Acquirer Systems’ industry-leading expertise to provide a detailed guide on switch migration planning, the critical role of test and validation, and principles for a successful migration.
According to the whitepaper, many firms begin their migration planning too late and even the best-prepared payments business can find unforeseen difficulties in migration. The paper concludes that a simulated end-to-end test environment is critical for a smooth migration because it facilitates continuous operation and assures no interruptions of live operation as functionality is moved safely in Phases.
“This paper underlines our commitment to our customers and the payments industry in solving the issues associated with payment switch migration. The bottom line is that the use of end-to-end test and validation platforms can make the difference between migration success and failure, along with saving cost, time and effort along the way. This new whitepaper paper offers insights into the challenges of payment switch migration and also offers a practical expert guide for anyone embarking upon it”, said Fergal Molloy, CEO Acquirer Systems.