The payments industry is getting hot. Almost every week we hear of new payments providers and new ways for us to make payments to friends and businesses (I can even, apparently, just ask Siri to instantly make payments for me).
All of this means that the existing payments providers need to keep on top of their game, ensuring fast and simple payment methods whilst keeping everything as secure as possible.
The deal that was recently announced between Worldline, a European payments and transactional services company, and VMware, a cloud infrastructure and business mobility provider, epitomises how the payments industry is reacting to all of this competition.
I spoke to Jean-Charles Longuet, Worldline’s Head of Architecture, Innovation & Strategy about the deal. He explained that Worldline has three main customer groups: Merchant Services, Mobility & e-Transactional Services; and Financial Services, all of which need to react quickly to changes in market demand. They do this by exploiting the cloud infrastructure of VMware’s NSX, which allows Worldline and their customers to deploy and install virtual servers extremely quickly and simply. For example, some customers need huge but short-term increases in capacity to help manage a sporting event.
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In the past the payments industry has seemed relatively ‘old fashioned’ when compared to the brave new world of FinTech, so having cutting-edge technology on board makes them more competitive. This is particularly true for Worldline’s e-payment merchants where the market constraints are very different – regulation isn’t as strict, but they need fast time to market and much tighter SLAs.
Overall, Worldline have found that the new skills required have been picked up very quickly by their internal teams and that deployment is therefore much faster (around four times faster, according to Jean-Charles). Having the skills in-house means that Worldline can deploy and control their own platform running tens of thousands of virtual servers, helping them remain as competitive as possible.
About the author
Andrew Burgess has been the lead architect within several major change projects, including strategic development, IT transformation and outsourcing, in a wide range of industries across four continents. He has developed and implemented sourcing strategies for global organisations, running sourcing programs and helping re-organise IT departments to maximise their value from sourcing. Andrew was recently awarded ‘Automation Champion of the Year’ by the GSA, the industry association and professional body for the global sourcing industry. He is widely considered to be a leading expert in the growing Legal Transformation and Outsourcing market and has recently written ‘The Rise of Legal Services Outsourcing’ in collaboration with the London School of Economics (LSE). Andrew’s latest book, ‘The Executive Guide to Artificial Intelligence‘ has recently been published by Palgrave Macmillan. Andrew is a council member of the Global Sourcing Association and is Head of Consulting at HG Insights.