2021. What an interesting year. With the world turned upside down by a pandemic that seemingly had its sights set on...
On-premise or out of a cloud, Financial Institutions have choice with OmniPayments
When it comes to navigating disparate technologies, HPE NonStop systems remain the sole choice when it comes time to run the highest availability option
To what do we owe the growing popularity of OmniPayments, the company, among Financial Institutions (FIs)? To what do we owe the success of OmniPayments, the product, in the marketplace? These are questions posed to our sales force on a regular basis and the singular response is that we understand the needs of FIs today even as we navigate a disparate variety of technologies. No one solution will ever satisfy every FI so having the flexibility to easily tailor solutions to meet evolving requirements of each and every FI is at the root of OmniPayments success. The book we are writing may only have a few pages but the story is proving all-consuming for many FIs looking to upgrade to a modern, cost-effective payments’ solution.
Today OmniPayments can demonstrate just how big it can scale, as one of the largest banks in the US routinely processes some 700 million transactions per month generated by POS terminals and over 14,000 ATMs. A single OmniPayments system will easily handle up to 10,000 transactions per second – far more than almost any switch on the planet plans on accommodating any time soon. But on the other hand, OmniPayments success story includes numerous FIs where the transaction volume is two orders of magnitude less than these numbers.
It’s hard to ignore the overall design of OmniPayments and this too impresses most FIs new to OmniPayments. At the heart of OmniPayments are Business Logic Modules (BLMs) and their modular design permits a gradual and phased implementation leading to smooth migrations to OmniPayments, no matter the choice of payments solution previously deployed. Indeed, it also allows for OmniPayments to be implemented in part or in whole – OmniPayments can be installed either as a complete, off-the-shelf solution or a customer’s current payment system can be enhanced with customer-requested module and feature modifications to improve cost-effectiveness, efficiency, and risk mitigation.
When it comes to navigating disparate technologies, HPE NonStop systems remain the sole choice when it comes time to run the highest availability option that many FIs require. Today, the presence of NonStop is complemented with Linux and Windows servers – Linux supporting dashboards and some reporting modules and Atalla hardware encryption running on Windows. With the power that is now on offer with the release of the NonStop X family of systems there is more than sufficient whitespace on hand to run even more modules on NonStop and to this end, OmniPayments is migrating both Settlement and Compensation to NonStop.
However, it is the much improved price / performance metrics of the Intel x86 based NonStop X systems that have allowed OmniPayments to deploy multiple NonStop X systems across multiple OmniPayments’ data centers to operate as a cloud. An OmniPayments’ cloud – an OmniPayments product offering that is now known as OmniCloudX. Numerous OmniPayments instances can be hosted on OmniCloudX at a pay-for-use price so attractive that mid-size retailers and financial organizations now can enjoy the benefits of having their own high-capacity transaction switches. While this is becoming more widely known, it’s just one more chapter in the OmniPayments book – future chapters are going to embrace a lot more than just SOA and hybrid architectures. The availability of a virtual NonStop platform is going to open even more opportunities for OmniPayments with FIs considering their future plans.
As of today, OmniPayments is demonstrating that it fully understands not just technology but the marketplace, running on OmniCloudX starts at only $5,000 USD per month – ideal for Proof of Concepts, small pilot projects as well as timely parallel testing. And this is just the beginning, with even tighter integration of hybrid infrastructure now available and virtual NonStop not far away. OmniPayments has upgraded its product roadmaps to embrace both capabilities. Yes, OmniPayments is enjoying well-deserved success of late but it really comes back to NonStop and the NonStop story. The book, of course, remains NonStop but we have every intention of continuing to add many new chapters.
OmniPayments customers and others interested in our solutions are invited to join the new OmniPayments Discussion Group on LinkedIn at http://bit.ly/2bB1AGh.
Contact Yash Kapadia at +1 408-446-9274 or at email@example.com for further information.