Best practices in payments infrastructure investment

Abstract

This paper explores how to invest strategically in payments infrastructure, identifying where the need is greatest and most urgent, with an explanation of the available options. For many companies, getting a solid payment processing foundation in place could mean more than simply saving money and eliminating fraud potential. The right foundation might actually enable business scalability or provide funda­mental client satisfaction criteria affecting the overall success of the business. It is important to understand that the word ‘payments foundation’ is appropriate because it sets up a platform where continuous improvements can be made over time as part of an ongoing programme, where each phase will bring additional return on investment (ROI). The payments environment is constantly evolving, with new risks, compliance challenges and changes in standards occurring regularly. An organisation without a comprehensive payments foundation could find itself in a bad situation owing to factors completely out of its control; in a worst case scenario, the distribution of the problem may make it unsolvable in a timely manner. Getting the first project off the ground and laying down the foundation is critical. The right combination of problems must be identified in the first phase to yield an ROI. It is the intention of this paper to help the reader to identify that list of issues as well as provide a background for organisational buy-in and presentation of a successful business case.