Payment Hubs Providers

Payment Hubs Providers Overview

What are Payment Hubs?

Payment hubs are centralized systems for banks and other financial institutions to process and manage payments as efficiently and safely as possible. They support real-time processing and are compliant with modern regulations around data privacy and transparency, such as ISO 20022 standards. These standardized controls also prevent unauthorized payments or other exploits that could otherwise emerge from the cracks between legacy payment systems. Modern payment hubs are also designed to function regardless of payment type, transactors, or even geographic location, while providing more visibility across all payments.

Payment hubs were originally large systems that struggled with adoption at the turn of the century. In recent years, they have modernized into API-centric, “open banking” systems that improve accessibility and management costs. Unlike legacy payment hubs, modern systems mitigate the amount of change management that is required to adopt and manage a system. This was a key barrier to adoption when payment hubs first emerged. Now, many payment hubs are accessible enough for fintech startups to leverage them when interacting and coordinating with larger financial institutions. Scalably-centralized payment hubs also enable more rapid technological advancements, since there are fewer legacy systems that require individualized maintenance and updating.

Payment Hubs vs. Payment Orchestrators

Payment hubs overlap heavily in objective with payment orchestration platforms, but there are key differences. Payment orchestration platforms are primarily for marketplace-esque organizations, such as eCommerce platforms. They more heavily focus on accessibility and usability for end consumers and the merchants using the platform. In contrast, payment hubs are almost exclusively for traditional financial institutions and closely-related fintech startups. Each category of platform comes with unique functions to serve their respective use cases. For instance, each category caters to distinct regulatory environments, user experience expectations, and implementation standards.

Payment Hub Comparison

There are several factors to consider when comparing modern payment hubs:

  • Geography: There is still some localization in how well certain payment hubs can serve various geographies. Consider how global your financial institution’s scope is, then look for a payment hub that meets that scale.

  • Scalability: Legacy payment hubs may struggle to handle the modern technological requirements of enterprise payment environments, such as managing high-volume open API calls. Consider records of scalability that align with your financial institution’s current and projected scale.

Start a payment hub comparison here

Payment Hubs Products

(1-10 of 10) Sorted by Most Reviews

Fiserv Enterprise Payments Platform

Enterprise Payments Platform from Fiserv enables financial institutions to simplify their payments infrastructure and deliver an effective payments strategy. The solution helps users streamline payments workflows, modernize and replace legacy technology, and create new consumer products…

FIS Enterprise Payments

Centralized Payments Systems across the EnterpriseWith FIS™ Enterprise Payments, financial institutions can implement a centralized payments infrastructure that facilitates origination through instruction management to execution across the enterprise. Payment transactions are processed…

Oracle Banking Payments

Oracle Banking Payments enables users to process payments in real time, anywhere, and at scale with a unified payments hub, built on the ISO 20022 framework.

TietoEVRY Payment Solutions

TietoEVRY headquartered in Helsinki offers payment solutions for financial institutions including instant payment infrastructure, card and financial product management, and payment processing.

IBAS Global Banking Factory

IBAS GBF - Global Banking Factory is a 100 percent Java, object-oriented and component-based solution built on international standards and a Service Oriented Architecture (SOA). It allows customers to create and change product attributes and workflows to provide users the ability…

Icon Solutions IPF Instant Payments

Icon Solutions headquartered in Wimbledon offers payment and enterprise solutions serving the global financial services sector.

Fusion Global PAYplus

Fusion Global PAYplus, from Finastra headquartered in London, is presented as an end-to-end payment hub solution which provides for mass payments, high value payments and immediate/real-time payments, enabling financial institutions to consolidate legacy systems into a single,…

Finacle Payments Suite

Finacle is the industry-leading digital banking solution suite from EdgeVerve Systems in Bangalore, a wholly owned subsidiary of Infosys. Finacle helps traditional and emerging financial institutions drive truly digital transformation to achieve frictionless customer experiences,…

ACI Enterprise Payments Platform

ACI Worldwide delivers payments software that aim to enable banks and financial intermediaries to manage the full lifecycle of payments.

Temenos Payments

Temenos Payments is SaaS payment technology that covers the complete payments lifecycle from order intake to clearing and settlement. These solutions are designed to work successfully both separately or together, via SaaS, cloud, or on-premise, providing the flexibility to tailor…