Service-oriented architecture (SOA) is a technology that simplifies integration. SOA has received a lot of attention in technology circles over the last few years with both avid supporters and skeptics illuminating the pros and cons of implementing SOA. In many cases, the skeptics pointed out the lack of specific business cases for implementation. While that assertion is arguably true in many cases, payment integration represents an excellent business case.
Why is this important? Because there are more and more locations (i.e., channels) that require electronic payments which exponentially increase the cost associated with integrating more and more services across more and more acceptance points. A great example is e-commerce. In July, comScore released a report that details that the "total U.S. e-commerce spending climbed 19 percent to (US)$47.5 billion" during the second quarter of this year. In addition, it states: "Based on first-half growth rates, total U.S. online consumer spending is on track to reach $200 billion in 2007."
