Abstract
The North American market for third party processing (TPP) services continues
to perform well despite the global recession, with 2008 sales at $62 billion
based on exceptionally strong growth during the past five years, and with
9%-10% average annual gains forecast through 2013. Seeking to offset the
impact of lower employment figures in the payroll space and reductions in
consumer use of credit in the payment space, third party processors continue
to bank on the ongoing move from paper to electronic processing while waiting
for government stimulus initiatives to kick in, especially in the healthcare
arena. During the down economy major TPPs are also promoting new technologies
to give their businesses a boost, working to increase revenues from existing
clients, and tapping into related growth areas such as human resources
outsourcing in the payroll space and mobile transactions in the payment space.
At the same time, the market continues to see competitive upheaval, including
Heartland' s 2008 purchase of the TPP business of Alliance Data Systems, and
Fidelity National' s 2009 acquisition of Metavante in the payment market; and
Emdeon' s 2008 emergence as an independent company and McKesson' s purchases of
Per-Se (2007) and RelayHealth (2008) in the healthcare space.
This fully updated report critically and quantitatively assesses the market
for data and payment-related transaction outsourcing. The report focuses
particularly on three key segments - electronic payment processing, payroll
processing, and healthcare transaction processing - with separate chapters
tracing the service trends, market trends and competitive strategies driving
market growth and competition within each of these industry segments. The
report also examines third party processing as it relates to the Internet, as
well as the development and expansion of Internet processing applications. In
addition, it identifies and assesses the economic drivers and regulatory
changes shaping each segment of the industry, as well as the trend whereby
major competitors are adopting technologies and leveraging their massive
infrastructures to expand beyond their traditional core businesses. Helping to
illustrate these trends are competitive profiles of leading market
participants including payroll processors Automatic Data Processing, Inc.
(ADP), Paychex and Ceridian; payment processors First Data Corp., Fiserv and
TSYS; and healthcare transaction processors Emdeon Corp., SSI Group and
Availity.
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