Who We Serve
The Payment ecosystem is evolving at a rapid pace. Acquirers, merchants, banks and financial institutions are learning to adopt and keep pace with this change. A direct result of this is the need to launch innovative payment products, streamline converging channels and ensure simple, safe and secure transactions.
At the core of a payment transaction is the ability to authorize, switch and route transactions seamlessly, while changes in business requirements can be rapidly implemented into the switching solution. Reno-Switch, the 21st century solution from Renovite has been designed from ground up to be a scalable, modular and secure product that can be deployed by the various stakeholders i.e. Acquirers, merchants, banks and financial institutions.

Merchants

Merchants with large estates of acceptance points spread across multiple locations need to manage the payments process centrally. This centralized approach enables the merchant to manage payment security while ensuring compliance to relevant regulations. Additionally, a centralized transaction processing platform increases the merchant’s ability to re-route transactions rapidly based on acquirer relationship without requiring extensive changes at the terminal level.

The merchant market place changes extremely quickly in the 21st century. Technologically aware customers adopt new payment methods rapidly, creating pressure on merchants to accept new payment types and tokens. Traditional architectures predicated on cards reduce the flexibility and responsiveness of the merchant.

Reno-Switch’s modular design and extensibility ensures that the merchants can rapidly exploit new payment methods and tokens with a reduced cost of change, leading to an improved competitive position.

Acquirers & Processors

Merchant acquirers and processors typically manage with a large number of direct acceptance points spread across multiple locations combined with a large number of host-to-host connections with larger merchants. The number of merchants managed by a given processor or acquirer, introduces many potentially conflicting requirements to support changes in the merchant’s business domain. Many large acquirers and processors are constrained in their desire to satisfy merchant requests by their inability to manage rapid concurrent change in the acquiring and processing platform. Traditional architectures from the 20th Century are predicated on card tokens and many predate the emergence of internet commerce.

The merchant marketplace changes at extreme pace in the 21st century. Technologically aware customers adopt new payment methods rapidly, creating pressure on merchants to accept new payment types and token, which in turn is transmitted to the acquirer or processor. Traditional architectures predicated on cards reduce the flexibility and responsiveness of the acquirer or processor.

The innate flexibility of the Reno-Switch architecture provides a merchant acquirer or processor with the ability to rapidly deploy services to facilitate new payment methods and tokens with a reduced cost of change, leading to an improved service for their merchant clients.

Banks & Financial Institutions

Financial institutions typically process transactions for their cardholders that originate from many channels. The rapid pace of change in these channels combined with the regulatory changes driven by card schemes forces any competitive financial institution into a cycle of constant change release. On top of the external drivers for change, a financial institution must satisfy the internal demand from its own business that wishes to launch new services for its account holders.

Traditional architectures from the 20th Century are predicated on card tokens and many predate the emergence of internet commerce. They are predicated on cards and fixed channels, which reduces the flexibility and responsiveness of the institution.

The revolutionary flexibility of the Reno-Switch architecture positions an institution with the ability to rapidly deploy services to facilitate new payment methods and tokens with a reduced cost of change, leading to an improved service for their account holders. In a world of decreasing customer loyalty and increasing consumer awareness, the ability to launch new services rapidly is a key requirement for customer retention and customer acquisition, especially among the millennial generation.