Defining a Payment Services Hub
Zilvinas Bareisis · 2011
Zilvinas Bareisis, MSIA, MSc, is a Senior Analyst within Celent's Banking group and is based in London. Mr Bareisis's research focus is on payments, particularly cards, processing, and innovative retail and corporate payment propositions. Payment services hub concept is gaining ground as an accepted way forward to modernizing banks ’ payments architectures. However, the confusion over definitions and terminology remains. This paper proposes a visionary definition of a payment services hub and clarifies the key terms. It also describes the four types of payment services hubs banks are currently implementing in practice.