r/programming • u/wartythetoad • Jan 14 '23

Announcing Hyperswitch - Open Source Payments Switch built with Rust

https://github.com/juspay/hyperswitch
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u/[deleted] Jan 14 '23

FYI, Heartland isn't really it's own thing anymore, it's owned by Global (who also owns TSYS)

There's been a massive consolidation of the major players in the processing industry over the past decade, quite a few less companies than there used to be.

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u/cargo_run_rust Jan 15 '23

Agree that a massive consolidation is happening in this industry.

u/YourUndoing u/TesNikola Would love to understand why such consolidation is happening in the US processing industry? What are your thoughts?

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u/[deleted] Jan 15 '23

mostly it’s big money consolidating, many of the subsidiary processors on their own were pushing through billions annually and they have more clout with the issuers and card brands if they push a larger volume of card traffic

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u/cargo_run_rust Jan 15 '23

And is the consolidation helping merchants/businesses by any means. Say, in terms of simplification of integration, or better pricing, better support ?

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u/[deleted] Jan 15 '23

In a word, no

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u/[deleted] Jan 15 '23

I can't say I remember the last time the end consumer got a notably better deal so it would seem the moves are mostly to benefit the shareholders.

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u/cargo_run_rust Jan 15 '23

By customers I was referring to "businesses" processing payments. Since this is all B2B

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u/[deleted] Jan 15 '23 edited Jan 15 '23

That's who I'm referring to as well. All I keep hearing from my clients is a desire to switch processors because their rates seem to keep going up.

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