The Finteq Product offering includes the Finteq Payment Hub (FPH) and the Finteq Payment Gateway (FPG), but which one is right for your organisation?
The Feature Comparison document provides a comprehensive comparison of the Payments Hub and a Payments Gateway, highlighting their features and functionalities across various domains. The comparison is structured around the following key areas:
- Integration: This section details how each product handles payment origination, transmission, and integration with other systems, emphasising aspects like multi-channel management, direct bank integration, and supported communication protocols. The table also outlines the security measures employed by each product, such as encryption and authentication mechanisms.
- System Configuration: This segment focuses on the configuration capabilities of each product, including workflow management, rule definition, processing types, and supported payment types. It also provides insights into system administration and monitoring features, such as notifications, alerts, audit logging, and user management.
- Payment Processing: This part delves into the payment processing functionalities of both products, covering pre-processing tasks (validation, authorisation, routing), core processing operations (execution, exception handling), and post-processing activities (clearing, settlement). It also explores features related to payment exception management, reporting, and reconciliation.
- Technical Support: The final section outlines the technical support services offered for each product, encompassing software updates, patch management, performance monitoring, training, and documentation.
The comparison employs a visual representation to clearly distinguish features that are present, absent, or planned for future development in each product. This allows for a quick and easy assessment of their capabilities and facilitates informed decision-making when choosing between the FPH and FPG based on specific requirements and use cases.
FPH (Finteq Payment Hub)
- Focus: The FPH is designed for more extensive payment processing and management within an enterprise environment. It supports functionalities like:
- Multi-core banking system integration
- Double-entry accounting
- Funds reservation management
- Batch booking
- Real-time account validation
- The FPH might not prioritise direct integration with external payment systems or extensive support for various payment origination channels.
FPG (Finteq Payment Gateway)
- Focus: The FPG is geared towards facilitating interactions with external payment systems and channels. It supports features such as:
- Direct integration to bank hosts
- External payment system integration
- User capture for payment initiation
- The FPG is best suited to businesses that rely heavily on external payment providers.
Key Takeaway
The FPH leans towards comprehensive internal payment processing and financial controls, while the FPG emphasises integration with external payment systems and channels. The choice between them would depend on the specific needs of the organisation, whether it’s streamlining internal payment operations or connecting to a wide array of external payment providers.
