Top 9 best payment hub solutions in 2024

The payment hub market is hot at the moment. In the past years, corporates have been interested in finding modern technologies to centralize their payment operations, moving away from services offered by the bank.

The connected payment hub

Payment hubs aim to facilitate communication between a wide variety of systems and banks to execute accounts payable, accounts receivable, manual payments, salary payments, and more. However, corporates are also looking for more: They want solutions that can connect to their systems and their banks and are looking for innovative solutions, such as utilizing banking APIs to receive real-time data.

Cash management teams are predominantly looking for flexible solutions for their needs, which can sometimes be quite complex, depending on the company.

List of the top 9 best payment hub solutions

We collected the best payment hubs available on the market to help you with shortlisting payment hub providers and get you started on setting up a payment factory. This is a global overview to help you find vendors from different locations. We focus on giving you a detailed summary so you can start discovering which vendors would fit your requirements.

Of course, the best is always to dig deeper and do your own research, so we encourage you to get in touch with your selected payment hub providers, schedule a demo, and bring your team (also your IT team!) on board.

1. Nomentia

Nomentia Payments has over 1400 corporate customers using the solution globally, and in 2022 Nomentia customers have been handling over 1 trillion euros using Nomentia's payment hub. The solution helps finance teams to centralize, control, and manage end-to-end payment processes and optimize cash and working capital. In addition, the solution also provides add-ons such as payment process controls and sanction screening to minimize the risk of financial fraud.

Regardless of the company's size, Nomentia Payments enhances control over accounts payables and accounts payables, whether it is only happening on a local level or there is a need to pay globally. For example, KONE, the world's largest elevator manufacturer, uses Nomentia Payments in over 60 countries.

With this payment factory, clients can automate payment processes, execute manual payments when necessary, and create manual payment templates for frequently occurring payments. Additionally, companies use the solution beyond AP and AR automation, for example, in Finland, customers also use the solution for executing salary payments.

Nomentia Payments can integrate with various systems, such as any ERP, TMS, financial, or HR systems. In addition, Nomentia also provides bank connectivity as a service for its clients to easily connect with over 10 000 banks globally via host-to-host, SWIFT, or local (e.g., EBICS) connections.

Besides Nomentia Payments, customers are also adding Nomentia Payment Process Controls for fraud detection and compliance screening and Nomentia Reconciliation to automate matching and postings to the general ledger.

Learn more about Nomentia Payments, visit the company's solution page >>

2. Kyriba

Kyriba Payments is a well-known and respected solution on the market. They offer a large number of bank connections so that clients can automate AP, claims, and trade payments while improving control and governance.

One of the benefits of using Kyriba Payments is the centralization that allows corporates to enforce their treasury and payment policies.

Kyriba's payment factory provides real-time automated payments and a possibility for fraud detection and compliance screening for enhanced security.

If you want to learn about Kyriba's payment solutions, head to their website and discover their success stories, ebooks, and factsheets for more information.

Learn more about Kyriba Payments, visit the company's solution page >>

3. FIS

FIS, headquartered in Jacksonville, Florida, United States, provides various solutions for finance, cash management, and treasury management. One of the company's solutions is the FIS® Payment Hub - Quantum Edition (formerly Trax), an award-winning payment hub for digitalizing payments and bank reporting. The payment hub is the basis for a payment factory in more than 100 corporations worldwide so they can gain control over domestic and cross-border payments.

Beyond payment standardization, the FIS Payment hub provides payment controls and cash visibility solutions. The solution can be quickly integrated with existing cash management solutions, treasury management systems, or ERPs.


Learn more about FIS® Payment Hub - Quantum Edition, visit the company's solution page >>

4. AccessPay

AccessPay provides a platform for payment automation to process account payables, receivables, and payroll payments by connecting to all major Payroll, ERP, and General Ledger applications.

AccessPay is an excellent tool for executing accounts payables and accounts receivables, and it removes the need to use solutions offered by the banks, such as cash management solutions or APIs, to automate payments. In addition, AccessPay offers connectivity to banks via host-to-host connections and SWIFT.

They have in-built bank-grade security tools that include: data masking, PGP encryption, advanced auditing capabilities, rule-based AI, and segregation of duties.

Learn more about AccessPay, visit the company's solution page >>

5. TietoEvry Payment Hub

TietoEvry provides a complete payment platform for executing all types of payments from a single place. It's a scalable and modular payment solution that can be connected to external systems to retrieve payment files and securely execute domestic, regional, and even the most complex high-value international payments.

TietoEvry's payment solution supports payment schemes like SEPA credit transfers, SEPA direct debits, Target2, P27, and Instant Payments, and it's ISO20022, SWIFT, and PSD2 compliant.

Learn more about TietoEvry Payment Hub, visit the company's solution page >>

6. Finastra

Finastra provides a modern Corporate Payment platform with over 30 years of experience. In addition, they provide a solution called Corporate Connectivity to get harmonized and standardized data into their payment platform to create a seamless customer experience in a single place instead of working from siloes.

Finastra has also released a report on Selecting a Payment Hub, so if this is of interest to you, you should download the report from their website.

Learn more about Finastra’s Corporate Payment platform, visit the company’s solution page >>

7. Temenos

Temenos provides Temenos Payments from their 69 offices in 32 countries. The company's payment hub is used globally, and you will find interesting customer cases on the website.

As for payment technology, like many other solutions, Temenos works with the complete payment lifecycle from order intake to clearing and settlement utilizing the company's cloud-based solutions. The payment solutions are available via the cloud but also as an on-premise solution to suit any need. It's fully customizable according to the customer's need to optimize the payment flow.

The Request to Pay (R2P) service allows users to handle payables and receivables. In addition to the R2P solution, Temenos Instant payment is a real-time payment solution for instant payments compliant with ISO20022 and other schemes such as SEPA Instant and UK Faster Payments.

Learn more about Temenos Payments, visit the company's solution page >>

8. Volante: VolPay Hub

Volante is a US-based company located in Jersey City, US, London, UK, Mexico City, Mexico, and Dubai, UAE. The company's payment hub VolPay Hub has 135 customers in 25 countries.

VolPay Hub offers end-to-end payment processing solutions regardless of the payment type. The solution can be integrated with banks, and it is provided either as a cloud service or as an on-premise solution. Volante promises a deployment in under 90 days and a lower cost of ownership.

Learn more about Volante's VolPay Hub, visit the company's solution page >>

9. Finteq Africa

While some of the vendors have offices on the African continent, Finteq Africa is a South Africa-based company with a payment hub called Finteq Payment Hub.

It's a complex solution that handles account payables and receivables. As needed, it verifies and enriches payment files and converts them into the proper payment format to communicate with systems and banks.

The solution is based on flexible, predefined workflows to manage each different payment type from end to end. Besides the basic payment functionalities, Finteq Payment Hub (FPH) also has AML capabilities and exception handling, users can benefit from using the reconciliation feature all while meeting regulatory and ISO compliance.

Learn more about Finteq Africa's Finteq Payment Hub, visit the company's solution page >>

Selecting a payment hub: what are the next steps?

When you decide that you want to set up a payment factory in your company, there are a couple of steps that you need to take. First, of course, you may already know the payment hub market and have a good idea of the payment hub solution providers you would like to talk to – you may meet many at finance and treasury trade shows. So it's good to do window shopping at this stage and discover more. We recently wrote an article on selecting a payment hub that could be useful in the process of finding the right solution.

Setting up a payment factory? Include the IT department from the start

Before you engage in a conversation with the different vendors, you should involve all the key stakeholders from your company – including IT and possibly also procurement – and understand the functionalities you will need. Then, make sure you list everything by aligning it with your roadmap. For example, the payment hub you select should be a future-proof solution, meaning that you can add more functionalities later, such as reconciliation, or even work with the same vendor to improve liquidity management and cash flow forecasting.

Understand the payment hub market

You can either shortlist payment hub vendors and get in touch with them to book a demo or start an RFI and RFP process to get all the answers to your questions. Either way, this list is here to help you to make the most informed decision about what's available on the payment hub market.

Suppose you already have a payment hub in place and are reading this article out of curiosity. In that case, you can always get in touch with us and let us know what solution you use – we are always open to updating this list to help our readers find the most suitable payment technology for their needs. You can also always get in touch with our team to show you an online demo or meet you face-to-face in any of our locations. We also provide demos at trade shows, so if you are coming to any of the industry events, let's meet there!