Visa named among merchant payment providers

In Forrester’s report, The Merchant Payment Providers Landscape, Q4 2023, Visa shines among 26 vendors as a notable payment provider.

How the right payment provider can help you win

Payment providers can help you simplify your payment processing needs and optimize your payment performance through insights, automation, and expertise. The ability to accept payments can significantly influence a merchant’s success, yet it is frequently disregarded as a key strategic component in their digital operations by retailers and brands. Picking the wrong payment approach and provider can have direct consequences for retailers. If payment security measures are inaccurately applied, customer card information may be compromised; if the payment process is burdensome, even devoted customers may choose alternative options; if mobile payments aren’t available to your customers, you might risk losing a whole segment of consumers. Choosing the right payment provider can be the difference between making a sale or losing out to your competition.

Merchants need payment vendors that help them build stronger connection with their customers. Forrester’s Merchant Payment Provider’s Landscape report offers an extensive view into the value merchants can expect from various payment providers and to explore potential partners. Accounting for top use cases, specifically accepting and processing payments from consumers and using data to optimize acceptance and processing, the report provides an overview of 26 payment vendors and the use cases they serve. Extended use cases for which customers select payment providers were also discussed, including some of the following:

Fraud, chargebacks, data security, and tokenization
Consumer payment experience/engagement
Payment data access, management, and enrichment
Integration and orchestration
POS hardware/software or in-person payments

What Visa brings to the table

Depending on your business strategy, the use cases for payments and the features that support them can significantly differ. Visa has a spectrum of offerings no matter your need—from turnkey solutions to streamline payment processes for businesses to fully customizable options that fit your specific requirements. We know how to show up wherever you’re doing business.

According to the Forrester report, merchants must consider the type of vendor they need that can provide the geographic focus, industry focus, deployment mode of services, and the market size of each merchant payment vendor. The report listed Visa among large vendors (categorized by $250 million+ in size), and Visa reported three main geographic focus regions. Visa is shown in the report for having selected the following use cases as top reasons clients collaborate with us out of those extended use cases:¹

Extended use cases	Why they’re important to you
Fraud chargebacks, data security, and tokenization	Fraud and chargeback management helps merchants avoid losses due to fraudulent transactions and unwarranted chargebacks. Data security ensures that sensitive customer and transaction data is protected from breaches, maintaining customer trust, and avoiding legal issues. Tokenization replaces sensitive data with unique identification symbols that retain all the essential information without compromising security.
Integration and orchestration	Integration confirms that the payment system can be smoothly incorporated with other systems (e.g., inventory, CRM, accounting, etc.) that the merchant uses, allowing for efficient data flow, improved tracking, and better overall management. Orchestration ensures that these systems can work together in a coordinated manner.
POS hardware/software or in-person payments	Ensures reliable, easy-to-use, and secure POS systems for merchants to be able to accept payments in a physical location. Includes being able to accept a wide variety of payment methods (i.e., cards, mobile, payments, etc.) to cater to customer preferences.

These services are about ensuring that a merchant can accept payments in a secure, efficient, and customer-friendly manner, a goal that all merchants should have when organizing their business strategy. When looking to enhance the value of payments for your business, Visa offers strong solutions that can catapult your business to the next level:

A convenient network that allows for quick and easy electronic payments
A secure framework with advanced security measures to protect against fraud and unauthorized transactions
Constant innovation in new technologies to improve the payment experience and make payments more valuable for your customers

If you’re looking to support omnichannel payments on one platform with the modernity that is required to keep up with a fast-paced retail environment, Visa has you covered there, as well. Ready to kickstart the new year on the right foot? Contact us here to get started!

¹ “The Merchant Payment Providers Landscape, Q4 2023”, Forrester, December 2023