Capgemini has formed a global partnership with First Data Corporation in a bid to shake up the booming electronic payments industry.
The two companies have formed a global alliance to develop next generation payment technology software using First Data’s VisionPLUS and AccessPLUS solutions.
It is hoped this collaboration will leverage Capgemini’s global vertical industry and payments expertise and First Data’s suite of payments solutions, assisting clients in numerous sectors, including financial services, retail, public sector, telecommunications and media, in growing their businesses, mitigating risk and improving operational efficiencies.
According to a company statement, Capgemini will serve strategic roles as value-added reseller, payment processor and managed services provider in a number of global markets. Capgemini will also actively enable the development of innovative payments solutions leveraging VisionPLUS, AccessPLUS and other First Data and third-party solutions.
The new solutions will provide servicing and channel integration, accelerated implementations, and improved local payment solutions.
As part of this alliance, Capgemini will also become a holder of a developer license to offer development services and systems integration services to First Data’s VisionPLUS and AccessPLUS licensees.
First Data president, Guy Chiarello, said, "Never before in the history of financial services has the speed of change been faster, and competition for customers more fierce,”
“Our singular focus is helping our clients grow their businesses, and this important global alliance with Capgemini helps deliver on that commitment by enabling our clients to navigate an evolving global marketplace with our optimal solutions and deployment expertise.”
More than 200 financial institutions around the world use VisionPLUS and AccessPLUS for payment processing and servicing.
It enables clients to issue, acquire and process credit, debit, commercial and prepaid transactions, as well as handle loan account processing on a single, secure platform.
The software supports multiple currencies and addresses compliance challenges faced by financial institutions globally.
Capgemini chief executive, Thierry Delaporte, said the rapid evolution of the payments marketplace impacted many key vertical industries.
"Our clients recognise the need for highly flexible, scalable, and easily integrated solutions that can meet dynamic customer demands, regulatory changes, security threats and emerging competition from alternative players,” he said.
“Coupling First Data’s comprehensive payment solutions portfolio with Capgemini’s deep technology expertise and payments industry experience [with over 100 implementations globally]enables us to provide a global, market-leading payments platform and solutions portfolio to clients.”