Payments As A Service

NEW REPORT: Upgrade Payment Systems, Build Stronger Communities?

Sunscreen? Check. Bug spray? Check. Updated online systems to reduce paperwork? Check.

In recent weeks, companies have rolled out several different types of Payments-as-a-Service (PaaS) solutions that are designed to help both online and brick-and-mortar merchants. These solutions include POS and cloud-based solutions that are geared toward helping businesses in a variety of different sectors, including restaurants and recreation.

The May Payments-as-a-Service Tracker™ examines the ways new payment solutions and tools are helping merchants with their business operations and improving relationships with the customers and clients.

News from the Payments-as-a-Service Landscape

New payment solutions are giving merchants new ways to help consumers pay for services in both online and offline, including acceptance methods for card and mobile payments.

In Europe, for example, Ukraine’s largest acquirer bank, PrivatBank, selected VeriFone to help merchants with POS solutions accept card-based payments. And back here in North America, Alipay and First Data formed a partnership to help millions of First Data’s business clients accept payments from overseas visitors.

A handful of payment innovations, designed to help merchants in several different businesses, have also recently been introduced. For restaurants and food services merchants, a collaboration between VeriFone and Eigen Development Ltd. will serve up new payment options for The Keg Steakhouse + Bar restaurant chain, including pay-at-the-table with EMV and P2PE solutions. 

Meanwhile, new features were added to Net Element’s Aptito POS and mPOS products to help restaurants manage reservations, payroll and social media, among other functions. 

Reinventing the Recreation Market

Beyond restaurants and waste management providers, the quarter trillion dollar recreation market is getting upgrades to its payment systems, plus some additional help to reduce paperwork. For the May Payments-as-a-Service Tracker™ feature story, PYMNTS spoke with Alexandre Gauthier, VP of marketing for online client management software provider Amilia, who told PYMNTS how new online registration tools are helping to modernize the market and help programs and municipalities forge stronger relationships with participants and local residents. 

“We created an ecosystem within our product where we can provide tools for the parks and recreation department and the clubs that are offering these activities,” Gauthier said. “Through our platform, we’re able to share data in real time, so the clubs know which turfs are available and when they’re able to book the facilities.”

To read the feature story and catch up on all the latest developments across the PaaS space, check out this month’s Tracker.

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To download the May edition of the PYMNTS.com Payments-as-a-Service Tracker™ click the button below…

About the Tracker

The PYMNTS.com Payments-as-a-Service Tracker™ is designed to give an overview of the trends and activities of merchant platforms that not only enable payment processing of new and old technologies but also integrate with other features to improve the merchant’s experience, including customer engagement, security, omnichannel retail, analytics, inventory management, software and hardware management and more.

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Latest Insights: 

Our data and analytics team has developed a number of creative methodologies and frameworks that measure and benchmark the innovation that’s reshaping the payments and commerce ecosystem. The July 2019 Pay Advances: The Gig Economy’s New Normal, a PYMNTS and Mastercard collaboration, examines pay advances – full or partial payments received before an ad hoc job is completed – including how gig workers currently use them and their potential for future adoption.

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