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Payment Processing Solutions
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MCA advises on new financial services for payment processing2008-03-20The Mercator Advisory Group (MCA) has published a new report on how payment processing systems can be utilized to maximize customer satisfaction and how Restricted Authorization Networks can accept credit cards in innovative ways. An independent research and advisory services firm for the banking and payments industry, the MCA said that merchants often view open networks as the sole factor in rising costs of payment processing, yet interchange can create new solutions for merchants looking to increase market penetration. The organization's report highlighted opportunities and threats for credit card processors, manufacturers and card sponsors and found that one major trend in the industry is the emergence of the so-called Consumer Incentive and Employee and Partner Incentive markets. The American Express Incentive Services DirectSpend program is one example of this as a discount scheme that offers innovative reward and gift products targeted to consumer and business audiences for prepaid solutions. New technologies identified in the report include restricted authorization networks, decoupled debit and merchant funded discount networks.   |
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