at Financial Technnology Year
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Worldpay Payment Gateway from Worldpay (FIS)
A versatile payment processing gateway supporting various payment types, secure online processing, and detailed reporting tools for financial management.
Product analysis by function
Payment Processing Systems for Financial Operations
Secure platforms that manage the disbursement of pension benefits to retirees and beneficiaries, supporting multiple payment methods, tax withholding, and payment verification.
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Security & Compliance
(7 Yes /7 Known /10 Possible features)
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PCI DSS Compliance Adherence to Payment Card Industry Data Security Standards for secure card payments. |
Worldpay is PCI DSS Level 1 compliant; this is noted in their security documentation. | |
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GDPR Compliance Ensures all personal data is handled in accordance with General Data Protection Regulation. |
Worldpay (FIS) supports GDPR compliance for data stored and processed within the EU, as indicated by their privacy policy. | |
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Data Encryption All sensitive information is encrypted at rest and in transit. |
Data encryption at rest and in transit is standard for Worldpay payment processing. | |
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Audit Logging Comprehensive logs of system activities for compliance and troubleshooting. |
Worldpay provides robust audit logging for transaction and system activity. | |
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Role-Based Access Control (RBAC) Access rights are granted based on user roles to ensure data security. |
Role-based access control is referenced in Worldpay’s documentation for merchant account management. | |
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Multi-factor Authentication Requires users to verify identity with more than one authentication method. |
Multi-factor authentication is available for administrative access within the merchant portal. | |
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User Permission Granularity Level of detail in specifying user rights and restrictions. |
No information available | |
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Automated Regulatory Reporting System generates files conforming to legal reporting requirements (e.g. tax authorities). |
No information available | |
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Regular Security Audits Frequency of formal, independent security assessments. |
No information available | |
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Incident Response Protocols Documented processes for managing security breaches or payment incidents. |
Incident response protocols are referenced as part of Worldpay/FIS’s compliance and risk handling. |
Payment Method Support
(8 Yes /8 Known /10 Possible features)
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Bank Transfer Support Can disburse payments directly to beneficiaries’ bank accounts. |
Bank transfer support (ACH and wire transfer) is standard for Worldpay payment processing. | |
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Check Payment Support Ability to issue physical checks to beneficiaries. |
Worldpay supports issuing payments via checks, as noted in their B2B and B2C payout options. | |
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Digital Wallet Integration Supports modern digital wallet services (e.g., PayPal, Apple Pay). |
Digital wallet integrations (Apple Pay, Google Pay, PayPal, etc.) are supported by Worldpay. | |
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International Payment Support Ability to disburse funds in multiple currencies and across countries. |
International payment support is a core feature, including multiple currency settlements. | |
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ACH/EFT Capability Supports Automated Clearing House and Electronic Funds Transfer mechanisms. |
ACH/EFT processing is a core part of Worldpay's disbursement solution. | |
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Direct Deposit Setup Number of unique direct deposit configurations supported. |
No information available | |
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Batch Payment Processing Ability to process multiple payments in a single transaction group. |
Worldpay allows batch payment processing for merchant disbursements. | |
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Cash Card Support Supports reloadable pension/disbursement cards. |
Prepaid and reloadable cash card products are listed as supported payout methods. | |
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Automated Payment Scheduling Ability to schedule routine disbursements automatically. |
Automated payment scheduling is included in the merchant dashboard/API. | |
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Customizable Payment Cycles Flexibility in configuring payment periodicity (monthly, quarterly, etc.). |
No information available |
Tax Withholding & Reporting
(0 Yes /0 Known /10 Possible features)
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Multi-jurisdiction Tax Handling Accurately processes multi-state/country tax withholdings. |
No information available | |
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Automated Tax Calculation Calculates tax deductions based on current rates and exemptions. |
No information available | |
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Form Generation (e.g., 1099, W-2P) Produces required tax forms for pension disbursements. |
No information available | |
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Tax Withholding Customization Adjusts withholding levels per beneficiary preferences or mandates. |
No information available | |
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Annual Statement Distribution Prepares and delivers annual tax summary statements to beneficiaries. |
No information available | |
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Electronic Tax Filing Integration Links directly to tax authority filing systems. |
No information available | |
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Real-time Tax Updates Automatically updates tax tables to reflect legislative changes. |
No information available | |
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Withholding Summary Reports Provides reports summarizing withholdings by date, person, or fund. |
No information available | |
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Tax Liability Calculation Speed Time taken to calculate total tax liabilities per batch. |
No information available | |
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Integrated Tax Advice Tools Guidance pop-ups or modules for administrators regarding tax impacts. |
No information available |
Payment Verification & Fraud Prevention
(6 Yes /6 Known /10 Possible features)
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Automated Beneficiary Identity Verification Instantly verifies beneficiary identities via public records and internal databases. |
Worldpay verifies beneficiary (recipient) identity for anti-fraud purposes during onboarding/disbursement. | |
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Pre-payment Sanctions Screening Screens recipients against government and financial watchlists. |
Pre-payment sanctions and AML screening is a required step for payments and is done via automated systems. | |
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Duplicate Payment Alerts System flags potential duplicate disbursements for review. |
Worldpay provides duplicate payment alerting and blocking as an anti-fraud and operational protection. | |
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Payment Reversal Handling Supports automated reversal and recovery of disputed or fraudulent transactions. |
Automated payment reversal handling is supported for fraud or disputed transactions. | |
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Machine Learning Fraud Detection Utilizes AI/ML to spot anomalous payment activity patterns. |
Machine learning and AI-driven fraud detection is part of the standard risk/fraud suite from FIS/Worldpay. | |
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Two-Step Payment Confirmation Requires double confirmation for outgoing payments. |
No information available | |
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Real-time Validation Speed Average time to fully validate and approve a payment. |
No information available | |
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Automated Beneficiary List Matching Cross-references recipient info with internal eligibility lists. |
Automated beneficiary list matching is implied as part of payout and eligibility checks for corporate clients. | |
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Biometric Verification Support Supports fingerprint, facial, or voice authentication for beneficiaries. |
No information available | |
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Suspicious Transaction Alert Rate Percentage of transactions flagged as suspicious within a period. |
No information available |
Integration & Interoperability
(8 Yes /8 Known /10 Possible features)
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ERP System Integration Interfaces smoothly with enterprise resource planning tools. |
Integrates with ERP systems (SAP, Oracle, etc.) as indicated by Worldpay API/marketplace documentation. | |
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API Availability Supports documented APIs for external software connections. |
Documented RESTful APIs available for connectivity and integration. | |
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Banking System Integration Directly links with multiple banks for seamless transfers. |
Direct integration with numerous banks and payment networks globally. | |
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Payroll System Sync Synchronizes payment data with payroll modules automatically. |
Payroll system integration is available via API or data import/export. | |
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Third-party Data Import Allows bulk beneficiary and payment data import from external sources. |
Bulk import of payment/beneficiary data is supported for payouts. | |
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Open Banking Support Operates with standard open banking APIs/protocols. |
Worldpay offers open banking support and APIs compliant with PSD2. | |
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Legacy System Adapter Can connect with and migrate data from older pension platforms. |
Supports legacy system adapters and migration per FIS migration services. | |
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Integration Deployment Time Typical time required to integrate with a new third-party system. |
No information available | |
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Data Synchronization Frequency How often system data syncs with external systems. |
No information available | |
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SFTP/FTPS Support Secure file transfer options for periodic data exchanges. |
SFTP/FTPS file transfer is offered as a secure method for data exchange. |
User Experience and Accessibility
(5 Yes /5 Known /10 Possible features)
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Multi-language UI User interface available in several languages. |
No information available | |
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Mobile Access Full access to functions and data on mobile devices. |
Dashboard access and reporting tools are optimized for mobile devices (as per marketing material and support). | |
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Self-service Beneficiary Portal Beneficiaries can view/pay statements, change details, and request services online. |
No information available | |
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Accessibility Compliance (WCAG) Meets Web Content Accessibility Guidelines for users with disabilities. |
No information available | |
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Customizable Dashboards Users can tailor home screens to track relevant metrics and info. |
Users can customize dashboards and reporting views. | |
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Bulk Actions Support Administrators can process multiple changes/payments in one step. |
Bulk actions (batch uploads/payments) are supported in the Worldpay dashboard and API. | |
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Average User Training Time Time needed for a typical user to become proficient. |
No information available | |
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24/7 Support Availability Customer support is available at all hours. |
24/7 support is promoted as available by Worldpay for business-critical services. | |
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Notification & Alert Customization Users can configure email, SMS, or in-app alerts for key events. |
Notification preferences (email, SMS alerts) are available in merchant account portal. | |
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Real-time Activity Logs Tracks all actions per user in real-time for transparency. |
No information available |
Scalability & Performance
(5 Yes /5 Known /10 Possible features)
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Max Supported Beneficiaries Maximum number of active beneficiaries supported without degradation. |
No information available | |
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Max Payment Processing Throughput Number of payments processed per minute at peak. |
No information available | |
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Average Payment Processing Latency Typical delay from initiation to completion of payment. |
No information available | |
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Concurrent User Support Number of simultaneous active users supported reliably. |
No information available | |
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Cloud-native Architecture Designed for dynamic scalability and uptime. |
Worldpay is a cloud-native, globally redundant platform backed by FIS. | |
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Automatic Load Balancing Distributes processing evenly to prevent system slowdowns. |
Platform includes automatic load balancing to ensure performance during peak volumes. | |
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Disaster Recovery Time Objective (RTO) Maximum acceptable downtime after disruption. |
No information available | |
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System Uptime Guarantee Percentage of time the platform is operational. |
undefined 99.99% uptime SLAs are publicly documented by Worldpay/FIS. |
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On-demand Resource Scaling Dynamically allocates resources during peak events (like month-end). |
On-demand resource scaling is part of the service's cloud deployment model. | |
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Geographical Redundancy Platform is hosted across multiple data centers/regions. |
Worldpay infrastructure is distributed across several global data centers. |
Reporting & Analytics
(7 Yes /7 Known /10 Possible features)
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Custom Report Builder Admins can design ad hoc reports based on core data. |
Custom report builders and ad hoc reporting are available in the reporting suite. | |
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Scheduled Reports Automatic generation and distribution of regular reports. |
Report scheduling and automatic distribution can be configured. | |
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Real-time Dashboard Analytics Displays up-to-the-minute disbursement and performance metrics. |
Real-time dashboard analytics on payments, transactions, and fees are a feature of the platform. | |
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Export Options Supports export to multiple formats (CSV, PDF, XLS, etc.). |
Supports export to multiple formats including CSV, PDF, and XLS. | |
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Regulatory Report Templates Includes pre-built templates for government or internal compliance. |
Regulatory reporting templates are available as part of compliance offerings. | |
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Drill-down Capabilities Allows users to get more detail on summarized metrics or anomalies. |
Drill-down analytics for detailed examination of individual payments or batches. | |
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Forecasting Tools Predicts outflows, funding needs, and beneficiary growth. |
No information available | |
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Data Visualization Support Displays trends, graphs, and charts for quick understanding. |
The reporting dashboard is strong on visualization (charts, trends). | |
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Custom Metrics Creation Permits custom key performance indicator definitions. |
No information available | |
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Average Report Generation Speed Average time to generate detailed reports from system. |
No information available |
Cost Management & Fee Transparency
(4 Yes /4 Known /10 Possible features)
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Clear Fee Disclosure All system fees and payment charges are transparently displayed. |
Fee breakdown and total cost calculation is transparent on Worldpay’s merchant portal. | |
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Granular Fee Customization Admins can configure fees by payment method, timing, or volume. |
No information available | |
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Automated Fee Calculation System automatically computes fees per beneficiary/transaction. |
Automated computation of per-transaction and batch fees is supported. | |
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Bulk Fee Adjustments Support for adjusting fees across groups or phases with minimal effort. |
Bulk adjustment of fee structures can be administered via merchant dashboard/tools. | |
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Fee Structure Comparison Tools Generate comparative analysis of different pricing models. |
No information available | |
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Per Transaction Fee Reporting Breaks down fees for every transaction. |
Per transaction fee reporting is standard in the Worldpay reconciliation and reporting system. | |
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Fee Reimbursement Handling System can account for and process fee reimbursements when required. |
No information available | |
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Max Supported Pricing Tiers Maximum number of unique fee/pricing tiers supported. |
. | No information available |
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Average Fee Processing Latency Time to apply, compute, and present fee information. |
No information available | |
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In-system Fee Simulation Test potential changes to fees and view impacts without committing. |
No information available |
Automation & Workflow Management
(5 Yes /5 Known /10 Possible features)
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Workflow Automation Engine Allows automation of recurring tasks and processes. |
Automation engines and configurable payment workflows are core to batch processing. | |
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Customizable Approval Chains Payment processes can require configurable, multi-step approvals. |
Configurable approval chains for payment and account changes are available. | |
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Automated Exception Handling Identifies, flags, and addresses processing exceptions automatically. |
No information available | |
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Integrated Notifications/Reminders Automated alerts triggered by workflow events. |
Automated notifications/reminders for workflow events (funds received, payout completed). | |
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Task Delegation Support Allows tasks to be re-assigned or delegated in workflows. |
No information available | |
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Workflow Execution Speed Average time to pass a payment through the full approval/release cycle. |
No information available | |
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Batch Automation Automates handling of bulk payment or update requests. |
Batch automation and processing supported for payouts, settlements, and updates. | |
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Conditional Logic for Workflows Supports if/then rules based on data (amounts, beneficiary status, etc.). |
No information available | |
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Template Library Includes ready-to-use templates for common pension disbursement workflows. |
No information available | |
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Audit Trails for Automated Actions Every automated action is traceable for accountability and compliance. |
Full audit trails maintained for automated and manual actions for compliance. |
Maintenance, Updates & Vendor Support
(8 Yes /8 Known /10 Possible features)
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Automated Software Updates The system self-updates with latest features and compliance requirements. |
Software updates and compliance changes are released automatically, particularly in the cloud-hosted version. | |
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Scheduled Maintenance Windows Defined, communicated periods for planned maintenance. |
Worldpay provides scheduled maintenance notifications to clients. | |
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24/7 Vendor Support Availability Round-the-clock technical and product support from vendor. |
24/7 technical and merchant support is a standard offering. | |
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Issue Resolution SLA Guaranteed time for vendor to resolve different classes of problems. |
No information available | |
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System Health Monitoring Automated checks and alerts for operation problems. |
Constant health monitoring and automated operational alerts are standard for Worldpay. | |
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Documentation Quality Index Internal rating of system documentation completeness and clarity. |
No information available | |
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User Community/Forum Access Active online community for peer support and tips. |
Worldpay maintains an active online user/help community and knowledge base. | |
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Proactive Issue Detection Automatically identifies and reports issues before they impact users. |
Automated monitoring and early warning for issues are claimed as features in Worldpay system overviews. | |
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Customization Support Vendor can tailor certain solutions or components for client needs. |
Customization options are offered for enterprise clients. | |
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Migration Services Vendor-assisted data migration from legacy or competing systems. |
Vendor-led migration and implementation services are a standard offering for large clients. |
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