Payment and pre-paid credit card service Ixaris has announced plans to launch a “Payments App Store” for banks and financial institutions called the Ixaris Payments Server.
Banks and financial institutions will be able to select their own payment solutions in an App Store-like setting before bringing them to market, explained the company in its statement. This liberates banks from many IT headaches when bringing new payment methods to market.
“Ixaris’ app store approach promises to empower business decision makers when it comes to product development by liberating them from the perennial constraints of limited IT resource at financial institutions,” the company said.
The applications can be molded for corporate-level or small and medium-size (SMB) business use and are open and customizable. Ixaris will publish APIs for companies to integrate their new systems with their existing back-office ones. Banks and institutions also have the option for creating new payment solutions.
Ixaris Payments Server is aimed at non-technical bank staff says Alex Mifsud, CEO of Ixaris. “We have market-tested these solutions with demanding corporate and consumer clients of our own in various sectors and have shown how to deliver profit from them,” he said.
“The development of payments products is now open to the commercial and business divisions at banks. Banks can now bring to market compelling and innovative payments programmes at a fraction of the cost and time it would take with traditional methods,” he added, claiming that the system will provide a big change in how we do payments.
“We believe Ixaris Payments Server heralds a transformation in how banks approach the product development lifecycle for payments. We believe the future of payments is open and we are providing a platform to help make it happen.”
Edited by Alisen Downey
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