Gartner Research

Choosing the Right Vendor for Payment Modernization Initiatives

Published: 18 September 2013

ID: G00255790

Analyst(s): Mary Knox, Christophe Uzureau


Identifying lead vendors for a payment modernization initiative is challenging and risky. This research, based on an analysis of available payment software, will help CIOs and heads of payments navigate this complex marketplace.

Table Of Contents
  • Key Challenges



  • Before Beginning Payment Software Vendor Identification, Identify the Scope of Your Modernization Initiative and Your Inclination to Buy Versus Build
    • The Scope of the Modernization Initiative
  • If Your Propensity Is to Buy Applications, Begin With Vendors That Offer Packaged Software Solutions That Match the Scope of Your Initiative (Whether It Is a Broader Modernization Initiative, Specific to Payments or Domain-Specific)
    • Broader Modernization Initiative (Propensity Is to Buy)
    • Initiative Specific to Payments (Propensity Is to Buy)
    • Domain-Specific Initiative (Propensity Is to Buy)
  • If Your Propensity Is to Combine Purchased Applications With In-House Assembly and Supplemental In-House Development (a "Buy-Assemble" or "Assembly" Approach), Focus on Those Vendors Matching the Scope of Your Initiative That Also Provide Infrastructure and Supporting Technology Solutions
  • If Your Propensity Is More Aligned to In-House Build and Supplemental Assembly That Draws Upon Vendor Applications (a "Build-Assemble" Approach), Lead With an Infrastructure and Supporting Technology Vendor With Payment IP, or Lead With In-House Build Supplemented With Selective Functionality From Dedicated Payment Vendors
    • General Strengths
    • General Weaknesses
    • Implications

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