Payment processing platforms can’t be one-size-fits-all. They need to be designed to fit the underlying businesses they serve, says Ken Hertzler, former Head of Product Marketing and Programs at Vantiv. You don’t pay for a meal the same way you pay a doctor’s bill. And with the rise of alternative methods for making payments – like voice recognition systems – successful platforms will have to manage and optimize a whole new suite of technologies beyond credit and debit cards. The products that will win, Hertzler says, are those that make payments easier, safer, and more reliable for consumers.
Ken Hertzler is the former Head of Product Marketing and Programs at Vantiv (formerly Mercury Payment Systems), where he helped develop and deliver go-to-market product strategies and programs for over 900 retail point-of-sale software vendors. Previously, he was VP at Platform Computing (now part of IBM).