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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.
Read an excerpt from this report below.About Author
Marigny Research Group, Inc. (MRG) is a producer of customized private-label market research reports, offering services including title development, research, market analysis, writing, editing, proofreading, desktop production, and marketing support, with a network of market research professionals that extends across the United States. Since 1986 MRG has authored more than 200 reports published under the Packaged Facts imprint, covering consumer packaged goods, demographic, retail, and financial markets. Within these and other areas, MRG has developed complete report lines, most recently focusing on the burgeoning market for pet products and services.
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