17 March 2018
Alex Novik


Alex Novik - Advapay

12Posts 38,963Views 0Comments

Payment systems market in the nearest future. What should be expected by companies operating in this market?

13 July 2015  |  1814 views  |  0

Rapid growth of payment systems make's it's market prospective for software solutions suppliers. What is the most important principles for companies that work in with payment systems? What solution producers should expect for?

Future market will be need in:

Turn-key solutions.

Today's situation says that injections into IT sphere may be the investments, but not the expenses. Companies operating in the market of IT-solutions for the financial institutions slould offer their client answers to a whole range of problems: from the development of the optimal business model to the deployment of required information systems, server co-location, website construction, selection of appropriate third party service providers and more.

Quality for reasonable price.

Today's situation is that start-ups in the financial sector often do not need heavy and costly core banking systems. What they need is a light, easily customisable solution which would enable them to achieve results as soon as possible and with the least possible investment.

Absolute level of security.

Security is one of the key concerns for the financial industry. The customer must be sure that all their transactions are carried out in a completely secure environment. In this context any money spent on security is justified.

What software suppliers should expect for:

- Rapid growth in such areas as mobile payments with all possible payment technologies including QR codes and NFC, and crypto-currencies;

- The need for solutions which would enable customers to make all types of payments from a single hand-held device quickly, securely and in a straightforward manner;

- Changes in electronic billing systems for both B2C and B2B segments are likely to continue evolving;

- Growth of SME banking segment that seems quite promising, although undervalued so far;

- Development of special payment services such as Airbnb.

Today and tomorrow the most important values for payment systems producers:

- Comprehensive and non-standard approach to solving companies problems;

- Flexibility of the software, the possibility of achieving a desired result in the shortest possible time frame and with minimum resources;

- The pricing policy. Given the fact that most of software suppliers clients are start-ups the pricing policy has to be competitive.


Payment systems market growth constantly, making it's prospective for software suppliers and service providers. Today it's possible to say that companies that will be able to provide relevant and high quality services will get big opportunities.

TagsMobile & onlinePayments

Comments: (0)

Comment on this story (membership required)

Latest posts from Alex

API and EMI in European payments landscape of PSD2

26 April 2017  |  2013 views  |  0 comments | recomends Recommends 0 TagsPayments

Remote Identification of Customers for European Payment Institutions. Part 2

05 April 2017  |  4323 views  |  0 comments | recomends Recommends 0 TagsPaymentsRisk & regulation

Remote Identification of Customers for European Payment Institutions. Part 1

03 April 2017  |  4025 views  |  0 comments | recomends Recommends 0 TagsPaymentsRisk & regulation

Establishing a Payment Institution in Lithuania

14 March 2017  |  4592 views  |  0 comments | recomends Recommends 0 TagsPaymentsRisk & regulation

Reasons for creating a payment business in Europe.

21 September 2016  |  1919 views  |  0 comments | recomends Recommends 0 TagsPaymentsRisk & regulation

Alex's profile

job title Manager
location Tallinn
member since 2015
Summary profile See full profile »
Manager & PR at Advapay. Involved in marketing, public relations and working with clients in Advapay, Epaysuite, Cryptus.

Alex's expertise

Member since 2015
12 posts0 comments
What Alex reads
Alex's blog archive
2017 (4)2016 (5)2015 (3)

Who's commenting on Alex's posts