Driving Innovation in Payments: Platform Updates

As you may already be aware…IP Commerce announced, via a press release, a substantial update to our Managed Commerce Services Platform. The content of this release is available on the IP Commerce site (as linked above) or on PYMNTS.com.

The detail of the updates is presented in the release, but there are a few elements therein that I desire to highlight.

These updates address the features required by developers to innovate on behalf of, and in partnership with, all participants in the payments industry and are based on more than thirty iterations of their APIs and five years of experience working directly with the payments developer community.

I can not overstate just how important this is. One of the reasons that I, personally, remained excited (and motivated) by the IP Commerce offerings is that our core technology is driven by a combination of our intimate knowledge and experience in the payments industry and the features/functionality/services that are required by our partners. These partners — from traditional industry players to a wide-range of Software Comapnies — truly represent the single most important element of the Platform.

As our CEO stated in the release:

“Not everyone who wants to or can do an open API or integration Lab will succeed.” said Alfred ‘Chip’ Kahn IV, CEO, IP Commerce. “Developers don’t have unlimited time or resources and will not create applications on every platform. IP Commerce has the experience, people and process in addition to the technology to make sure our partners succeed and are first to market with clear and endurable advantages. And efficient integrations to payment services are only a portion of the equation when providing commerce APIs. Ensuring the development community is enabled throughout their commercialization process is paramount and why we are excited to announce these enhancements to our platform.”

I encourage you to review the release itself…as well as the landing page created to support the release materials. That page, Managed Commerce Services Platform Updates, provides an overview of the core components that were announced/updated over the last several months. Over the course of this week, I will blog about:

More importantly, I will relate the technology in each to “Use Cases” that highlight the efficacy and utility of each. These implementations, and opportunity for implementations, are what truly represent innovation in the industry. Ultimately, these stories of usage are what matter most for all participants.

Technology for the sake of technology is interesting…
Technology that solves tangible pain is compelling…
Technology that allows me to make business decisions for business reasons, rather than because of technical limitations is exciting…
Technology that represents a revenue opportunity for all participants…

That is the earmark of a Platform.

What’s your perspective? Agree? Disagree? Anything to add? Critiques? The comment form is below…

June 7, 2010

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