OpenWay Improves Speed-to-Market for Acquirers With Its New Solution

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OpenWay, a global provider of top-ranked software for digital payments, has unveiled WAY4 Acquiring Start, an off-the-shelf acquiring solution. It helps banks, processors, PSPs, and retailers launch merchant acquiring – from idea to production – within a few months. In-store and digital acquirers can speed up greenfield projects without heavy investment in software. The standardized WAY4 Acquiring Start software kit runs in the cloud or on-premises.

Launching a merchant acquiring business can be both costly and time-consuming. Emerging payment methods, changing customer expectations, compliance issues and agile technology are just some of the considerations for any new acquirer. To address this, WAY4 Acquiring Start provides: preset merchant services and tariff plans, POS and mPOS acceptance, out-of-the-box reporting and billing, and PA-DSS compliance. An acquirer can launch and target both large-scale retail chains and SMEs in just two months start to finish with the WAY4 Acquiring Start as-a-service solution from OpenWay. WAY4 handles the complete lifecycle – from onboarding to reconciliation and settlement – for any merchant type.

WAY4 Acquiring Start is a shortcut for companies wanting to enter the acquiring market – startups and tier-1 players alike. As their acquiring ambitions grow, WAY4 lets them gradually extend the merchant offering with value-added services – tokenization, e-commerce, digital wallets, loyalty programs, and more.” – said Dmitry Yatskaer, CTO at OpenWay.

To help acquirers focus on their core business OpenWay offers a wide range of technical services, such as application management, testing, system upgrades among others.

WAY4 Acquiring Start is a part of the WAY4 Start set, comprising standardized software solutions for smart market-entry to merchant acquiring, credit and prepaid card issuing, payment gateway and other payment domains.