I’ve been getting a lot of inquiries on the sunset of Base24 lately. Banks and card processors are actively developing and executing migration plans in light of the sunset of Base24. For sure, the migration off Base24 is an enormous task in terms of cost and risk. Many large banks and processors leverage Base24 and have extensive card operations. The cost of any type of change is therefore high in these environments. Transaction processing is also mission critical to effective card payment operations, and migration therefore poses high risk.
In and of itself, migrating off Base24 to another payment engine is a tactical IT initiative. It’s tempting to think about migration in this way, because many banks and processors viewed Base24 as meeting their needs for mission critical processing. Replacing like-for-like capability makes sense in this regard. However, the sunset of Base24 provides a rare opportunity to innovate card payment operations. Banks and processors should seek four main innovations as they migrate off Base24:
- Include cards in governance initiatives
- Consolidate processing platforms
- Consolidate processing centers
- Experiment with payments modernization
Gartner customers (or potential customers): let me know if you have any questions about the sunset of Base24 or would like to talk more about any of these innovations.