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Two QAZKOM Innovational Products Have Been Awarded by the Big Four International Experts at a Time

Source: Qazkom press-release

Kazkommertsbank (Qazkom), a member of Halyk Group has become a winner in two nominations of the Asian Banking & Finance international magazine at a time. A special jury composed of representatives of the following international consulting companies: Deloitte, Ernst and Young, KPMG and PwC — awarded two innovational products of Kazkommertsbank: QR-code payments — in the «Best Mobile Banking Initiative — 2018» nomination (Mobile Banking Initiative of the Year) and Western Union online transfers via Homebank in the «Best Innovational Initiative — 2018» nomination (Digital Banking Initiative of the Year).

"While the entire world was watching FIFA, we were determining the champions in banking —over 200 best banks and insurance companies out of almost 40 countries are among them. I would like to thank the jury members for selecting the winners," — Tim Charlton, Editor of Asian Banking and Finance and Insurance Asia magazines, said at the awarding ceremony.

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The jury of the contest was impressed with successes of Kazkommertsbank, which is aimed at implementation of the new technologies into the banking sector of Kazakhstan, where people still prefer paying cash. The experts noted that the Bank takes into account the market trends, successful world practice and consumer preferences, which makes him a real leader of innovations.

"We devote, let’s say, the last awards in the Bank’s history to those customers, who make us be up to the time and even one step ahead of the time. 20 years ago Kazkommertsbank launched the first Internet-banking, 15 years ago — it was the first bank in CIS that offered chip cards and cash-in ATMs to its customers, 5 years ago — it proposed mobile proximity payments to Kazakhstani people, and a half a year ago it performed first QR-code payments. Today, when we are at a final stage of integrating with Halyk Bank, we are transferring the spirit of innovation and leadership into the integrated Bank together with our technologies", — Ulf Wokurka, CEO of Kazkommertsbank commented.

Kazkommertsbank has become one of those few banks in the world that mastered QR-code payments based on the mobile solution of Visa International Payment System in 2017. Only a few countries in the world, including India, Singapore are widely using QR-code payments.

Bank started implementing the new service from the most complicated segment, where one could not imagine non-cash payments before – food and clothes selling markets, street sellers. The growth dynamics of QR-code payments equalled 600% since they were launched in December 2017. Today, Bank keeps connecting dozens of merchants a week to the new mobile service. 

The second service of the Bank, which was awarded the Digital Banking Initiative of the Year, — Western Union money transfers via Homebank. The customers have quickly assessed the simplicity of using, speed and the lower cost of this service. As a result, WU online transfers have exceeded the number of money transfers performed via operating offices.


Implementation of QR-code payments solution has been a joint project of Kazkommertsbank (Qazkom) and OpenWay, a top-ranked payment processing software vendor.

What to Consider When Choosing a Technology Partner to Power your Payments

Published at: Business Day

Customers are demanding sophisticated financial products and services anytime, anywhere, using any channel.

From Africa to Europe, the Middle East and the US, the change in customer expectations is a significant global trend. Consumers are not only comparing banks with other banks; their expectations are also rapidly being shaped by technology companies such as Uber, Airbnb, Apple and other facilitators that ease their lives and give them the desired experience. And consumers and businesses are now demanding sophisticated financial products and services anytime, anywhere, using any channel.  

To deliver on these new expectations requires the right type of digital capabilities behind the scenes. Technology platforms must be flexible, scalable and work end to end. Naturally, they must also be secure and work across all channels – the ones we know about today and the ones we don’t yet.

Yet banks and processors also have to balance seemingly conflicting demands. They want to cut costs and time to market but are constrained by their legacy IT infrastructure. This is complex and costly to maintain, and it restricts their ability to innovate. Then there is the need to maintain regulatory compliance, interoperability and 24/7 operations.

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Fintech start-ups are also piling on the pressure. These newer, more nimble players are not encumbered by legacy. They can adapt more easily to the demands of customers and regulators. The fintechs may not have scale today, but their technology allows them to compete strongly in the future.

The right type of technology helps businesses think as well as act differently. In this way, technology drives both a technical and a cultural mindset.

Considerations when choosing a partner

If the future of payments is to be open and collaborative, then banks and processors need to have the technology in place to capitalise on opportunities. This often means better rather than more technology.

Payment systems should allow different business models to run on the same platform. OpenWay’s WAY4 platform enables concurrent customer propositions and business models, both new and traditional. It offers a variety of credit, debit, prepaid and multi-currency services for mature customers, and supports financial inclusion use cases for those who are unbanked or new to financial products.

Loyalty, deposit, payment and non-payment services and online interoperability are musts for successful wallets. These five elements unite clients as varied as Equity Bank in Kenya, Asia Commercial Bank and SmartNet in Vietnam, B1NK and AzeriCard in Central Asia, Advanced Info Services in Thailand and many others that either create their own wallet products or use an existing wallet ecosystem on WAY4. Openway clients target both unbanked consumers and demanding tech-savvy users.

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Payment partner considerations

Payment method-agnostic
Open and API-rich
Scalable and flexible
Cross-border
Truly digital (across B2B, B2C, B2G, C2G and so forth)
Supports various business models
Grows your ecosystem
Backed by an experienced team

Payments live in an ecosystem. Banks and processors are increasingly having to consider how and where they operate within this wider ecosystem — and naturally with whom. Their technology should facilitate greater co-operation or competition, and sometimes both. Ideally, payments platforms should be payment-method-agnostic, open and supportive of a rich library of APIs for everything from risk management and scoring to tokenisation.

Scalability and flexibility are critical. The chosen technology platform should have the flexibility to scale up to meet business needs and the robustness to cope with sales spikes. One of Openway’s biggest clients handles up to 2,400 transactions per second with no latency. This bank has achieved 140-million active debit and credit card portfolios with a variability of products and more than 40 configurable parameters for each of them.

Invisible security is key. That the platform should conform to the latest versions of EMV, 3-D Secure and PA-DSS is a given. In addition, a good technology partner should offer a range of fraud screening and risk management services. OpenWay provides an anti-fraud engine with about 80 customisable parameters, including payment and non-payment transaction data, customer and device information and historical analysis, which bring seamless security at every customer touch point.

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Personalisation: one size fits no one in payments. Openway worked with Nordic processor Nets to implement standardised products with minimal configuration options on WAY4, enabling quicker speed to market for end clients and with Borgun (Iceland) to offer merchants personalised pricing and value-added services. Plus the product user experience is personalised in real time due to the event-driven configuration.

Omni-channel is the default for banking and payments today. Customers should not see or feel the awkward join as they bank or shop online or in person at a branch or store. Openway helped Halyk Bank, one of the most innovative financial institutions in Central Asia, power the front-end omnichannel experience across e-commerce and face-to-face acceptance.

Commerce becomes more and more borderless. Top European processors have built distributed installations worldwide on WAY4 for issuing, acquiring, gateway and wallet services. For example, Six Payment Services successfully migrated close to 40 banks to WAY4 within two years. When the client’s digital strategy or domestic/regional regulations require on-soil presence, the platform allows the combination of cross-border centralised installations with local ones in the distributed processing environment. Good examples are Nets serving its banks throughout the Nordics, and Credorax working with merchants across Europe, both on the WAY4 platform.

Knowledge, skills and experience count for a lot in the brave new world of payments. OpenWay has more than 20 years’ experience in managing complex projects in multiple countries worldwide. The company has built national payment switches for countries, helped facilitate social payments for governments and interoperable mobile payments for banks and operators, and managed fuel card payments for oil companies. Leveraging this, the National Bank of Greece recently replaced its legacy mainframe systems with the modern, future-proofed WAY4 platform, and received recognition for delivering the best large-scale IT project in 2018.

The WAY4 system is an open, digital-payments software platform, used by 135 banks, processors, telecom and oil companies across the globe. OpenWay has been independently ranked as a market leader in card and merchant management by Gartner since 2009 and Ovum in 2015-16, and as a market leader in digital wallets (Ovum 2016).

THE ANALYTIC REPORTS

For more information, click to download the analytic reports.

National Bank of Greece Strengthens Market Leadership with WAY4

  • National Bank of Greece has been awarded for the best Card Management System (CMS) Project at the Bite Awards 2018 held on the 13th of June. During the ceremony the bank has appreciated OpenWay and Accenture companies that helped National Bank of Greece to successfully transform its business on the WAY4 CMS solution.

  • National Bank of Greece, the country’s leading banking institution, has successfully completed the migration of its debit card portfolio to the WAY4 card management system provided by OpenWay, a top-ranked digital payments software provider. Investment in the new platform supports the bank’s vision to enhance its leading position in Greece and further accelerate business growth.    

National Bank of Greece has replaced its legacy mainframe systems with a modern, future-proofed platform from OpenWay. WAY4 will support increasing transaction volumes and accelerate the development of new products and services. WAY4 from OpenWay is an open, all-in-one platform that enables different types of digital payment: card and account issuing, merchant acquiring, transaction switching, omni-channel digital banking, digital wallets and an e-commerce gateway. It offers product and service flexibility, scalability and high performance – which are the crucial requirements for dynamic business growth.

National Bank of Greece will reduce the total cost of ownership of its IT infrastructure by consolidating its card business on a single platform. It will also cut costs by eliminating outsourcing and certain internal operational costs.  More than 4 million debit cards, the majority of which were recently upgraded to contactless, have been migrated to WAY4. National Bank of Greece is now in the process of migrating its credit and prepaid card portfolios and its POS and ATM acquiring business to WAY4; it will also replace its Base24 switch to the payment schemes.

“Delivering an amazing customer service experience is a top priority for us and the centralization of card business on WAY4 enable us to operate more efficiently, react to new market trends quickly, and be more competitive in the open banking environment” - notes Pericles Papaspyropoulos, Sector Head, Cards Division, NBG.

“We are proud to be a strategic partner for National Bank of Greece and support them in the implementation of their ambitious digital payments strategy. Reliance on a technically excellent platform, strong partnership between all involved parties and the commitment to the project from the bank’s top management, brought us to this big success. We would like to thank our partner, OpenWay, for this excellent collaboration” – says George Pallioudis, Accenture Greece Payments Practice Lead.

“WAY4 technology supports end-to-end customer engagement: from seamless digital acquisition to flexible products management via omni-channel to smart data-driven services,” says Sophocles Ioannou, Regional Manager at OpenWay. “We are honored that National Bank of Greece has selected WAY4 as key element of their digital transformation project. We now look forward to further supporting them in delivering innovative services and products to the Greek market,” he adds.

About National Bank of Greece

National Bank of Greece was established in 1841 and was the first bank to be set up in the Modern Greek State, going on to play a key role in the economy of Greece throughout its 176-year history. Today NBG heads one of the largest financial groups in Greece, playing a key role in the efforts to support the Greek economy and the economic and social transformation of the country.

NBG offers a wide range of financial products and services that meet the ever-evolving needs of private and business customers.

The Bank rightly considers itself to be the preferred bank of families in Greece, as it controls 25% of the retail banking market. Its leading position in savings deposits reflects the trust of its customers who in essence comprise NBG's driving force.

With an extensive branch and ATM network comprising over 542 branches and 1,466 ATMs, NBG covers the entire geographical area of Greece, while it has also developed state-of-the-art e-channels, including Mobile and Internet Banking. Today, NBG's international network includes 93 units, while the Group employs some 11,500 employees (as at 31 March 2018).

OROBO and OpenWay Power Cross-Border Money Transfers to West Africa

OROBO and OpenWay are to change how the cross-border remittances to West Africa look like.

OROBO and OpenWay are to change how the cross-border remittances to West Africa look like.

OROBO, the newly-launched money transfer platform from Saana Holdings, is opening up cross-border remittance and bill-payments into Nigeria, Ghana, Kenya, Sierra Leone and supporting financial inclusion in West Africa. The WAY4 digital payments platform provided by OpenWay, a top- ranked digital payments software solution provider, will become the technological backbone of this innovative remittance service.

OROBO facilitates money transfers from the United States to Nigeria as well as bill payments for services within Nigeria via a simple app. With OROBO, Nigerians who work abroad can transfer funds to their families back home, more easily and cost-effectively than using traditional card-based bank transfers. Thanks to the direct connection with domestic payment schemes in Africa implemented on the WAY4 software platform, OROBO provides a last-mile service for remittance recipients, enabling them to access funds via Bank, ATMs and mobile agents locally.

The WAY4 system, comprising account and card management, merchant acquiring, financial switching and mobile wallet, will not only support OROBO’s day-to-day operations today. It also underpins its ambitious plans to expand into other African markets and grow from a remittance startup into a full- fledged transaction processing company. OROBO plans to scale its business as well as transaction volumes on WAY4, plus offer innovative services such as mobile wallets and mobile commerce in the future.

OROBO opted for OpenWay because of its expertise and reputation for technical excellence and uninterrupted 24/7 digital processing for multi-country, multi-currency payments. WAY4 solutions implemented on-premises or in the cloud provide online reconciliation, quick connectivity, data-rich reporting and enable new digital services such as tokenization, cash-by-code and online wallets.

"OROBO mission has always been using technology to solve the day-to-day challenges faced by the Africans and the Diasporas living outside the African continent, which they encounter when it comes to remittance and cross-border bill  payments, both at the personal and business levels. Our Partnership with OpenWay is a way forward to achieve the last miles of our vision as a leading African fin-tech innovation services provider in promoting efficiency and improving quality of life. This means Africa is moving forward in terms of payments technology."  – Chiedu Okeke, CEO, OROBO Inc.

“We are pleased that our technology will help people in West Africa receive transfers in a convenient way, and contribute to financial inclusion, economic growth and the development of fintech innovations in the region. I am convinced that the power and flexibility of the WAY4 solution along with its ability to support both traditional and innovative business models is what OROBO requires to move forward with their ambitious strategy.” – Wilfred Waiganjo, Regional Sales Manager – Africa, OpenWay.

 

About OROBO

OROBO, the newly-launched money transfer platform from Saana Holdings, is opening up cross- border remittance and bill-payments into Nigeria, Ghana, Kenya, Serria-Leone and supporting financial inclusion in West Africa.

OROBO facilitates money transfers from the United States to Nigeria as well as bill payments for services within Nigeria via a simple app. With OROBO, Nigerians who work abroad can transfer funds to their families back home, more easily and cost-effectively than using traditional card-based bank transfers.

https://www.orobo.com

Eurasian Bank, Mastercard and OpenWay Issued Eurasian Pay Digital Wallet

ALMATY, May 2, 2018

Today Eurasian Bank, Mastercard and OpenWay presented Eurasian Pay digital wallet to the market: now the Bank clients, Mastercard cardholders will be able to make one-touch payment for purchases with a smartphone to the terminal. Transactions made with Eurasian Pay are protected by Mastercard advanced security developments.

You can connect to the service without visiting the Bank, it is enough to have a smartphone based on Android 4.4 and higher, supporting NFC technology, and download the Eurasian Pay mobile application on Google Play. For the convenience of customers, the Bank provides the opportunity to choose two methods for confirming each payment - in the “background” mode, using the fingerprint recognition system or entering the password. Customers of other banks can also use the service by ordering a MasterCard card with home delivery in the Smartbank mobile application.

“Technology makes our life easier. We hope that Eurasian Bank customers will appreciate convenience of the new service, whose advantage lays in its simplicity. The digital wallet will allow them to make purchases in one-touch at more than 50 million trading platforms in 111 countries, while they will not need to carry a bankcard to pay. This is a new stage for our customers who are accustomed to non-cash payments, for which they receive increased bonuses, now, instead of plastic, they can switch to payments by their phone. Today, 87% of our Internet banking customers use Android-based phones. We are sure that they will appreciate the new service on its merits”, said Pavel Loginov, CEO of Eurasian Bank

Mastercard was the first to introduce the tokenization service in Kazakhstan, and now banks of the Republic will be able to provide their customers with modern payment solutions for contactless payment by smartphones and other devices. 

“Mastercard is a technology company. We develop solutions for non-cash payments and for many years have been creating innovations for mobile commerce. We are pleased that with the Mastercard tokenization platform the most modern achievements of the global payment industry are available in Kazakhstan now. Together with partners we offer convenient and safe non-cash payment tools that meet the user expectations and will promote the development of the digital ecosystem to achieve sustainable economic growth, improve the competitiveness of the economy and enhance the living standard in the country”, noted Geniyat Isin, Head of Mastercard in Kazakhstan

The Mastercard Digital Enablement Service (MDES) tokenization platform allows integrating a high level of protection in mobile payment services. The bankcard data is safe due to the latest developments in payment technologies - EMV, tokenization and cryptography. When using the Mastercard card in the Eurasian Pay wallet, its number is not stored either on the mobile device, on the Bank servers, or at the merchant enterprises. Instead, at connection of the Mastercard card to the wallet, a unique token - a 16-digit combination of numbers tied to the wallet on a specific smartphone is generated. This token is used for payment.

Each transaction made with the help of a token credit or debit Mastercard card, is reliably protected both for buyers and for outlets. For several years, Mastercard has been closely cooperating with technology partners and financial institutions, introducing the payment tokenization service. For the first time, the MDES platform was introduced in 2013 in the US, and since that time, millions of Mastercard cards have been processed as part of the tokenization service for use in popular electronic wallets.

Source: Eurasian Bank

About Mastercard

Mastercard – a technology company operating in the global payment industry. We manage the world’s fastest payment processing network, which connects consumers, financial institutions, trade companies, government and business structures in more than 210 countries and territories. Mastercard products and solutions allow you to more easily, safely and efficiently solve everyday problems, for example, to make purchases, travel, conduct business and manage finances.

About Eurasian Bank

Eurasian Bank is one of the socially important commercial banks of Kazakhstan with a 24-year history of development. The financial institution occupies a leading position in the retail banking business and provides a wide range of services to corporate and SME clients. In September 2017, the Board of Directors adopted the development strategy of the financial institution until 2022, with a focus on retail business development. 

Leading Processor in Bulgaria Starts Digital Transformation on WAY4

Mr. Radoslav Dimitrov, Head of "Cards and Terminals" Division

Mr. Radoslav Dimitrov, Head of "Cards and Terminals" Division

BORICA AD, a company with 50-years history and experience in providing specialized solutions for over 30 financial institutions in Bulgaria and neighbouring countries, has chosen the WAY4 digital payment software platform to transform its core business. The platform is licensed by OpenWay, a global software provider ranked a leader in digital payment solutions and white-label digital wallets.

BORICA AD has launched this digital transformation project to enhance its existing and provide new value-added services. OpenWay will supply a full end-to-end card processing solution for both issuing and acquiring including real-time fraud prevention and detection, e-commerce, mobile wallet and tokenization. The new platform shall enable BORICA AD’s future business growth including cross-border services’ expansion.

Without the new platform, BORICA AD would not have been able to scale the growing business and boost ROE. The processor was looking for a solution that would support local, regional and international card payments, ensure uninterrupted business operations, provide automation of back office processes, and increase speed to market.

The decisive factors in choosing OpenWay and the WAY4 platform were its flexibility as well as the commitment to deliver on time and allow BORICA AD to expand its new business services to include tokenization, digital wallet, new card products, new institutions among others. 

“The project known as “BORICA New Generation” will impact significantly the whole card payment environment in the country”, says Radoslav Dimitrov, head of “Cards and Terminals” Division at BORICA AD. “The tender procedure has been held among more than 10 leading international card system vendors and completing all its stages took us nearly two years. OpenWay managed to cover all our requirements for flexibility, security and business expectations. Today we are confident that this partnership will change the future of card business in Bulgaria”, he adds. 

“We appreciate that BORICA has entrusted the transformation project to OpenWay. We have extensive experience in analyzing the architecture and delivering highly reliable solutions for national and regional switches, and are ready to share this expertise with the project team,” - notes Sophocles Ioannou, Regional Manager at OpenWay.

About BORICA AD

BORICA AD has developed and nowadays provides and operates the technology infrastructure of the Bulgarian payment industry. In doing so, the company has been a trusted partner of banks and payment institutions for nearly 50 years.

The Company is committed to providing modern and innovative solutions to financial institutions.

Company’s services focus on payment services, card services incl. authorization and terminal driving, fraud prevention services, secured card payments, HCE, mobile payments and Card Management System as a service; SWIFT Service Bureau; e-signature and e-invoice, Infrastructure services. BORICA AD acts as a third party processor (TPP) for MasterCard and VISA. The Company is licensed by the Bulgarian National Bank to operate three payment systems (BORICA Payment system for card payments, BISERA 6 for credit transfers in domestic currency and BISERA 7 for SEPA credit transfers and direct debit in Euro).

URALSIB Launches Cloud-Based Digital Banking Platform

BANK URALSIB has presented a new cloud-based digital banking platform based on the WAY4 Digital Banking solution.

BANK URALSIB has presented a new cloud-based digital banking platform based on the WAY4 Digital Banking solution.

BANK URALSIB has presented a new cloud-based digital banking platform. It allows the partner banks to launch full-fledged mobile and Internet banking services within a matter of weeks. The event was held on December 8, 2017.

The bank presented new capabilities of its processing center, showed functional features of the new digital banking cloud platform, share the product roadmap and spoke of global trends in digital banking.

URALSIB Processing Centre is one of two large processing centers in Russia that provide cloud digital banking platform to its partner banks as a white label solution, meaning that a bank can offer all services under its own brand and customize them in line with its corporate style. Solution has an imbedded marketing campaigns management module, chat functionality and integration with the bank’s own payment system CITY+. 

The solution is based on the WAY4 Digital Banking platform developed by OpenWay (the URALSIB’s technological partner on developing the Processing Centre). 

When it comes to a digital banking solution, speed to market and optimal cost of maintenance are the most important requirements. Using the new solution, a bank can get access to the full-fledged digital banking service for its cardholders within weeks at an acceptable price. 

‘Today, convenient mobile banking is an anchor product for client retention. The primary marketing goal for a bank is to be on the smartphone of its customers. The second goal is to become a go-to financial provider, accumulating all its customers’ financial transactions. These goals are fulfilled with broad system functionality, the ability to communicate easily with customers and integrate with loyalty programs and other popular options delivered by the digital banking solution we propose,’ says Igor Demichev, Vice President, Head of Bank Partnership Management, BANK URALSIB. 

‘The digital platform for Internet and Mobile banking from OpenWay has great growth potential, particularly when it is integrated with the accounting systems of a partner bank. Based on the URALSIB Bank’s experience in developing its own digital banking systems, we have chosen the solution vendor, who ensures reliability, quick implementation, small end-cost of ownership and maintenance for a partner bank. I believe that we have fulfilled the task and our banks and their clients will appreciate the product benefits,’ comments Maksim Belousov, Deputy Chairman of Board on IT, BANK URALSIB.

OpenWay Becomes A Leader in Digital Wallets

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OpenWay Recognised as Market Leader for White-Label Mobile Wallet Solutions

The WAY4 Mobile Wallet solution from OpenWay, an expert in digital payments and developer of the top-ranked WAY4 digital payment and card processing platform, has been judged a ‘market leader’ in a recent Ovum Decision Matrix report. The report evaluated the technology, execution capabilities and market impact of seven short-listed white-label vendor solutions, across various sub-criteria. It found that the OpenWay solution had established a commanding market position and was widely accepted as best of breed in terms of innovations, functionality, platform, client base and geographical presence. As such, Ovum believed the WAY4 Mobile Wallet solution was worthy of a place on most technology selection shortlists.

DOWNLOAD THE REPORT >>

The WAY4 Mobile Wallet solution from OpenWay, an expert in digital payments and developer of the top-ranked WAY4 digital payment and card processing platform, has been judged a ‘market leader’ in a recent Ovum Decision Matrix report. The report evaluated the technology, execution capabilities and market impact of seven short-listed white-label vendor solutions, across various sub-criteria. It found that the OpenWay solution had established a commanding market position and was widely accepted as best of breed in terms of innovations, functionality, platform, client base and geographical presence. As such, Ovum believed the WAY4 Mobile Wallet solution was worthy of a place on most technology selection shortlists.

17 clients have deployed various configurations of the WAY4 Mobile Wallet solution in Europe, the Middle East and Africa, and Asia Pacific regions. These include the mobile wallet in Switzerland, enabled by SIX Payment Services; B1NK, Kazakhstan, a digital bank launched from scratch with the WAY4 Digital Banking, WAY4 Mobile Wallet and WAY4 Messenger Banking solutions. Additionally, numerous launches of OEM and HCE wallets based on the IPS tokenisation and WAY4 cloud technologies in Eastern Europe and Asia. One of these projects — the MDM Bank, Russia mobile app with embedded contactless payment functionality — was rated the best mobile banking app in Eastern Europe by Global Finance in 2016. 

“With an impressive client list and a proven track record of large-scale deployments, the WAY4 Wallet white-label platform has proven itself as capable of meeting the needs of most wallet providers for the ever-growing range of wallet-driven payment capabilities,” said Gilles Ubaghs, Principal Analyst – Financial Services, Ovum. “Its focus on strong integration standards, flexible deployment options, and modular design means it will likely remain at the forefront of technology deployments in the mobile wallet space for the immediate term.”

“Few organisations have the time, resources, budget or even appetite to create a mobile wallet from scratch. Our highly flexible, open software cuts the time, cost and complexity of launching various types of mobile wallets. Since the WAY4 Mobile Wallet covers both front- and back-office and rich-function APIs, it helps our clients to implement their digital strategies and innovate with various wallet services and unique customer experiences,” said Maria Vinogradova, Director of Strategy and Market Intelligence, OpenWay Group.

The WAY4 Wallet solution supports the entire wallet lifecycle, including customer onboarding, card, account, e-money, bonus points and coupon management, payments and transfers, tokenisation, personal finance analytics, risk management, and loyalty programmes. Its back-office functionality allows for comprehensive multi-currency accounting, GL, and clearing and settlement. The unified front- and back-end architecture is designed to provide full online omni-channel capabilities across payment tools and channels.

“Given that every organisation’s infrastructure is different, the WAY4 Mobile Wallet solution can be delivered as a stand-alone mobile app or integrated with third party wallets and mobile banking apps via API. It also interfaces with core banking and card processing systems. All of this helps maximise flexibility and minimise integration and configuration headaches,” concludes Maria Vinogradova, Director of Strategy and Market Intelligence, OpenWay Group.

 

ABOUT THE REPORT

The Ovum Decision Matrix: Selecting a White-Label Mobile Wallet Solution 2016-17 report helps banks, retailers and other organisations choose the white-label mobile wallet platform that best supports their specific needs and goals. 

To be included in the report, the solution had to have mid- to long-term potential, be applicable to financial service players and available in multiple geographies, as judged by Ovum analysts. 

The assessment methodology was based on responses to a detailed RFI, a solution briefing and an Ovum scoring assessment exercise. Weightings were used to calculate scores for both primary and sub-criteria, and were based on analysis of the typical importance of each criterion in the selection process for mobile wallet platforms. 

Ovum found that the mobile wallet market was increasingly fragmented with many new entrants, including the ‘Pays’. Investment in mobile wallets remained a top priority for over one third of issuers globally, many of which supported a range of mobile platforms simultaneously. As a result, white-label platform design is becoming more agnostic to devices and specific functionalities. A focus on integration, configuration and customisation through APIs and SDKs is key.

OVUM

Ovum is a market-leading research and consulting business focused on converging IT, telecoms and media markets. We create business advantage for our customers by providing actionable insight to support their decisions.

OPENWAY GROUP

OpenWay Group was founded over 15 years ago. We develop WAY4, an innovative e-payment processing framework for banks, payment processors, telcos and petrol companies.

OpenWay was initially headquartered in Brussels, Belgium with one R&D team there and another in St. Petersburg, Russia. Today we are a global company with 10 offices and 130 customers around the world.

Our portfolio consists of WAY4 Card and Merchant Management, Financial Switching, Personalised Channel Banking, Prepaid Cards, E-Commerce, Mobile Payments, Digital Wallet, DCC, Fuel Cards, and other solutions.

Our customers include tier-1 giants, mid-size companies, and ambitious start-ups:

  • Equens, Western Europe (SEPA-acquiring of 0.5 million merchants on WAY4)
  • Savings Bank of Russia (issuing and acquiring back-office, and authorization switch for 140 million credit and debit cards on WAY4)
  • SIX Group, a leading European payment company processing over 4,000,000 cards and migrated over 30 banks to WAY4 within 15 months
  • Comdata, USA (commercial cards on WAY4)
  • Network International, the Middle East (a processing center with approximately 60 banks on WAY4)
  • Raiffeisenbank Int., Eastern Europe (a processing center for 15 banks and countries on WAY4)
  • Bank Audi, MENA region (more than 40 card products on WAY4 including NFC)
  • Halyk Bank of Kazakhstan (the first bank to launch Visa P2P Mobile Transfers)
  • Lukoil Intercard, Eastern Europe (B2B fuel cards with comprehensive loyalty services on WAY4)

WAY4 live installations consistently demonstrate high performance; for example, 90 million cards issued and authorized on a single platform and 12 million POS/ATM clearing transactions processed daily by a single acquirer.

OpenWay, known for its commitment to long-term relationships, both serves customers locally and provides global support. Today our team unites approximately 500 payment business, digital technology, and security professionals.

Sberbank of Russia Processes 140,000,000 Cards Online on the WAY4 Digital Payment Platform

Sberbank of Russia, the largest retail bank in Central and Eastern Europe, is using the WAY4 processing platform to increase its issuing volumes by 200% every five years.

As of 2014, Sberbank was the largest bank in Russia and Eastern Europe, and the third largest in Europe, ranked 33rd in the world and first in central and Eastern Europe in The Banker's Top 1000 World Banks ranking.

In 2009 the bank issued more than 30 million cards. That is double the number of cards issued five years ago when the bank migrated from a legacy processing system to WAY4.

Today, Sberbank has three processing centres that serve 120,000,000 debit and credit cards, over 200,000,000 online accounts, and 20,000 branches across 11 time zones. WAY4 takes care of accounting and product management; EMV smart card issuing; acquiring and personalisation; transaction routing and card authorisation; and multi-level real-time risk management. It handles inter-office and inter-bank payment and clearing operations as well as automated dispute resolution. Time-to-market for the bank’s comprehensive card products and services has significantly decreased.

The bank offers digital banking services, debit and credit cards - EMV and virtual, MasterCard, Visa and local cards. Working with Russia’s largest airline, the bank has introduces the “Visa Aeroflot” card, which allows cardholders to accrue and redeem air miles. In addition to loyalty programmes, the bank has also launched several card-based charity and social projects.

Recently, Savings Bank of Russia became the first bank in the country to connect to Apple Pay. The project was implemented on the basis of the WAY4 Digital Wallet software solution by OpenWay.

Apple Pay Launched for the Russian Market with Sberbank and MasterCard

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Mastercard® cardholders of Sberbank will be the first to use the innovation

October 4, 2016, Moscow — Sberbank clients, holders of Mastercard® cards, can now use Apple Pay, which will let them make secure and convenient contactless and online payments. 

“Apple Pay is driving the popularization of contactless payments in Russia and globally. Many Sberbank clients actively use new technologies, and an increasing number of them will prefer cash-free and contactless payment using their smartphones,” commented Alexander Torbakhov, Deputy Chairman of the Executive Board of Sberbank.

Security and privacy are at the core of Apple Pay. The service leverages the safe and secure Mastercard Digital Enablement Service (MDES) platform of Mastercard, which uses the most advanced payment technologies – EMV, tokenization, cryptography and biometrics – to ensure the integrity of cardholder information. 

When a client adds a Mastercard credit or debit card to Apple Pay, the card number is not stored on the device or Apple’s servers. Instead, a unique ID is assigned to each device, which is encoded and safely stored on the device’s Secure Element chip. 

“Mastercard is a technology leader and we are committed to bringing innovations to the Russian market and by doing so, we get Russia to the digital future. With the launch of Apple Pay cardholders have a safe, easy and private way to pay for everyday purchases with their favorite devices – when, where and how they want,” said Alexey Malinovskiy, Head of Mastercard Russia, Kazakhstan, Belarus and Armenia.

Apple Pay can be easily set up in the Sberbank Online mobile application, which is familiar to all Sberbank cardholders. Users can enjoy contactless payment service while continuing to receive all the benefits from using their credit and debit cards. 

In stores, Apple Pay works with iPhone SE, iPhone 6 and later, the Apple Watch. 

Online shopping in apps and on websites accepting Apple Pay is as simple as the touch of a finger with Touch ID, so there’s no need to manually fill out lengthy account forms or repeatedly type in shipping and billing information. When paying for goods and services on the go in apps or Safari, Apple Pay works with iPhone 6 and later, iPad Pro, iPad Air 2, and iPad mini 3 and later. You can also use Apple Pay in Safari on any Mac introduced in or after 2012 running macOS Sierra and confirm the payment with iPhone 6 or later or Apple Watch.

Mastercard contactless payments are available in 77 countries with 6 million acceptance points around the world.

For more details about Apple Pay, please visit follow the link.

ABOUT SBERBANK

Sberbank is Russia’s largest bank and a leading global financial institution. Sberbank holds almost one-third of aggregate Russian banking sector assets; it is the key lender to the national economy and the biggest deposit taker in Russia. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank owning 50% of the bank’s authorized capital plus one voting share, with the remaining 50% held by domestic and international investors. Sberbank has more than 135 million individual customers and more than 1 million corporate clients in 20 countries. Sberbank has the largest distribution network in Russia with almost 17,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, Turkey and other countries.

The bank holds the general banking license No.1481 issued by the Bank of Russia.

ABOUT MASTERCARD

Mastercard (NYSE: MA) is a technology company in the global payments industry. Mastercard operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow Mastercard on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.

EPAM and OpenWay Form Partnership to Drive Digital Transformation in Payment Industry

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EPAM Systems (NYSE:EPAM), a leading global provider of product development and software engineering solutions, announced its global strategic partnership with OpenWay Group, an expert in digital payments and developer of the top-ranked WAY4™ platform

WAY4 is a complete omni-channel digital payment and card processing platform, supporting digital wallets, private label and branded card issuing, as well as merchant acquiring, financial switching and channel management. WAY4 serves as a core platform for digital banking solutions, closed-loop or national payment schemes and is deployed by tier-1 banks and payment processors across the globe.

Digital disruption forces market leaders and new players to reconsider their business models and, along with that, customer experience, technologies and partnerships. By leveraging EPAM’s digital enterprise, system integration and legacy system migration expertise and OpenWay’s market-leading payment platform solutions, the partnership will offer clients the benefits of digital finance and cross-industry expertise, excellent product and service offerings, faster time-to-market, and early adoption of innovations within a global scale. 

“The rapid evolution of the payments marketplace is impacting many of our key vertical industries and our clients recognize the need for scalable, flexible and easily integrated solutions that meet customer demands, regulatory changes and emerging competition from new market entrants,” said Arkadiy Dobkin, CEO and President, EPAM Systems. “Combining OpenWay’s leading position in the payment systems market and our deep technology experience across various industries enables us to provide the next generation of complex payment platforms and solutions to our clients.”

“We see EPAM’s dedication to excellence in its agile software development process and proven ability to quickly deploy robust, well-rounded specialist teams from their extensive pool of software engineers and architects” says Andrew Vereninov, CEO, OpenWay Group. “Innovation in the B2B and B2C payment space together with the mobile revolution is blurring the boundaries between industry sectors. We are keen to go beyond the financial sector and leverage EPAM’s expertise in retail and distribution, travel and hospitality, life sciences and healthcare.”

For more information about EPAM, please visit: https://www.epam.com

MasterCard Contactless Payments via Mobile Phone with no Additional Passwords

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MDM Bank, one of the largest private banks in Russia, has launched single-tap Mastercard Contactless mobile payments with no additional passwords.

Using the MDM Bank mobile app, the customers can now pay from their Mastercard account with no need to enter a PIN-code or additional app password or even to activate the application before payment. Customers simply unlock their phone and tap it to a contactless reader to pay. The service is based on the solutions by MasterCard and OpenWay, a recognised leader in software for bankcard issuing and acquiring, payment switching, digital banking services and omni-channel payments.

Consumers can now choose how they pay with their mobile phones: with or without a mobile PIN. The new PIN-less service is available to MDM Bank mobile banking customers, who have smartphones running Android 4.4 and higher with NFC support. The application also works on phones unlocked with fingerprint sensors.

The application fully complies with Mastercard security requirements and ensures the protection of financial data according to the international standards. To support the service, OpenWay was the first international vendor to have passed the Mastercard Cloud Payments version 1.0+ certification.

The new service runs in offline mode and is optional for customers. Mandatory authentication to confirm a payment can still be set up in the app, if required.

"Currently only a few banks in Russia have implemented contactless payments via smartphone with HCE technology. MDM Bank's solution allows clients to make purchases without starting the app and without the device being connected to the Internet. HCE technology allowing contactless payment is going to be everywhere: to pay for public transportation, as an access pass for work, school or university, and trends in the development of mobile payment services will only help spreading HCE technology", – Pavel Mikhalyov, director of the development of mobile services department, MDM Bank.

"We now offer a range of solutions for contactless payment – not only using plastic cards, but with smartphones and other form factors, such as wristwatch. With Mastercard Contactless payment technology, a smartphone's usual functionality is upgraded with a possibility to pay for goods and services safe and fast in Russia and abroad, since the solution is available globally", said Dmitry Tartyshev, Business Leader, Business Development, Mastercard Russia. – "We're happy that Mastercard’s technological solutions allow MDM bank to offer its clients the commodity of tap&go payment with their smartphones, making their user experience as convenient and secure as all Mastercard solutions".

MDM Bank's contactless mobile payments functionality is based on WAY4 Host Card Emulation (HCE) technology developed by OpenWay. This universal solution allows issuers to independently issue mobile version of cards and store clients' financial information in a protected format (tokens) on the bank's servers. OpenWay offers a white label application for tokenisation, which the banks can brand with their corporate colors, or use off-the-shelf. In addition, OpenWay develops a new solution that allows a bank to serve mobile tokens from other service providers (Apple Pay, Samsung Pay, Android Pay etc.) in its own, branded, mobile app.

"The opportunities for improving the user experience that we can provide using wallets and tokenization significantly exceed those available with the traditional payment infrastructure. It would be premature to say that plastic will no longer be used in five years but it's clear that there is a category of clients and business tasks for which contactless mobile payments are becoming an important competitive advantage", said Anton Polonovsky, director of business development at OpenWay in Russia and the CIS.

Recently MDM Banks’ Mobile app was recognized as the Best Mobile Banking App by Global Finance magazine in the 2016 World’s Best Digital Banks Awards in Central and Eastern Europe.

First Bank's Chat Bot is Launched on WAY4 Messenger Banking

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B1NK, a digital only bank for new generation in Kazakhstan, is now chatting with customers via Telegram.

This is the first bank bot in the region where customers can send money to friends, manage their cards and keep up-to-date on B1NK promotional offers – all via a popular messenger service.

Friendly chat bot B1NK (@b1nkbot) speaks three languages – Kazakh, English, and Russian. It answers user’s questions about ATM and branch locations, currency exchange rates, and even how bots spend their free time. Users can also request a call-back via the @b1nkbot. 

For customers, messenger banking means they have an always-on digital finance assistant. After they sign in, @b1nkbot can show them their transaction history and card balances, help them to block cards, set card transaction limits, and even to make mobile money transfers to friends. To send money, the user simply chooses the contact and specifies the transfer amount — no other information is required. The recipient receives a message confirming the transfer and is asked to choose a convenient way to receive the money (for example, transfer to a card or to a mobile phone account). 

‘Today only a couple of tier-2 banks in Kazakhstan offer mobile banking services. There’s definite potential for growth in this area, because people in Kazakhstan are tech-savvy and ready to embrace technological innovations. B1NK’s aim is to simplify banking, and to make finance management more convenient’, - Gani Uzbekov, CEO, Capital Bank Capital Bank Kazakhstan (B1NK) says.

The service is based on WAY4 Messenger Banking, an innovative white-label solution which facilitates customer service via messenger applications. The solution is developed by OpenWay, a recognised leader in software for bankcard issuing and acquiring, payment switching, digital banking and omni-channel. The solution supports customer service via all popular messengers, including Facebook messenger, Viber, WeChat, Telegram and Line. It can be integrated with any card processing system. 

‘We are happy for our creative partners at B1NK. The bank’s team is always open to discuss new ideas and is not afraid to experiment. The launch of @b1nkbot is a first for both our companies. B1NK is OpenWay’s first client to use the WAY4 platform for a completely digital bank, which focuses on serving customers via online channels only i.e. mobile banking and social networks’, - Dmitry Dovgal, depute business development director, OpenWay, notes. 

Messengers are friendly environments. Banks are beginning to realise the potential of interacting with customers in a new way, in the customer's language, using a familiar chat format. Banks are always available to their customers, irrespective of their location and device. Messenger banking is an automated alternative to more expensive SMS channels and supplements the service from call centres. Additional features, such as p2p money transfer and interactive photo, video and audio content, can also be used to attract new customers. According to statistics, messengers are an extremely popular communication channel for those aged 16-44.

AzeriCard and OpenWay Transformed Mobile Banking into Mobile Wallet

  • AzeriCard and OpenWay's joint project brought a mobile innovation to Azerbaijan.

  • WAY4 Cash By Code On Mobile technology allows for cash withdrawals and transfers on ATMs without a bankcard, using a mobile phone only.

  • This project is part of AzeriCard’s mobile wallet strategy, and was implemented by OpenWay engineers in just 2 months.

  • Cardless cash-out operations are supported by 1300 ATMs all over Azerbaijan.

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AzeriCard, the pioneer of card processing in Azerbaijan, and OpenWay, a recognized leader in software solutions for the payment industry, improved mobile banking service with the WAY4 Cash By Code technology. By generating a code on a cellphone, this technology allows for withdrawing cash on an ATM without a plastic card. This convenient 'mobile wallet' proved appealing to clients of 14 of AzeriCard’s partner banks. The new service also works as instant money transfer to recipients without a bankcard. The Cash By Code option was added to the menu of 1300 ATMs all over Azerbaijan.

The mobile banking with the Cash By Code option was developed by OpenWay. The solution works on iPhone, Android and BlackBerry smartphones, as well as on Java-enabled feature phones. The mobile banking menu allows the user to type in an operation amount and select the preferred card and currency from the list. The amount on the card account gets blocked for the next 24 hours, and the phone displays a generated code. Users can withdraw cash themselves or send the code to another person for money transfer. A valuable advantage of the service is elimination of ATM skimming risks.

If no withdrawal happens within 24 hours, the amount on the card account will be unblocked automatically. The mobile banking user can initiate an earlier unblocking, for example, in case of a lost or compromised code.

Anar Sultanov, the Managing Director of AzeriCard, says: “AzeriCard’s portfolio of card, mobile and web payment technologies has been growing rapidly, based on the solutions and international expertise of our partner OpenWay Group. Implementation of WAY4 Cash By Code On Mobile was a logical and important step towards the multifunctional mobile wallet service. 

This money transfer scheme is not limited to ATMs and has much potential for other self-service channels. Our clients can initiate Cash By Code operations on ATMs, and soon they will be able to do so via Internet banking”.

From January 2013, over 600 new users activate the mobile banking with Cash By Code every month. These are the clients of banks using AzeriCard's processing facilities – International Bank of Azerbaijan, AGBank, Bank Respublika, Bank Technique, Nikoil, Parabank, Turan, Amrahbank, ATA Bank, Silk Way bank, Bank of Azerbaijan, and Xalq bank. 

About Azericard

AzeriCard is the first processing centre in Azerbaijan that has been fully certified by international payment schemes MasterCard, Visa, and American Express. At the moment, AzeriCard processes transactions for 29 banks both in Azerbaijan and abroad. 26 of them are members of international payment schemes. AzeriCard actively implements top-notch high-tech projects, such as fare payment by contactless smart card, phone payments, utility payments, custom fee and tax payments, mobile and Web banking, card-to-card transfers, insurance fee payment via ATM, deposits, various loyalty programmes, multicurrency cards, etc. Today, AzeriCard’s system services about 2,000,000 bank cards, 1,300 ATMs and 6,000 POS terminals.

AK Bars thanks OpenWay for its great contribution to the banks’ success

We appreciate the feedback of our client, AK Bars Bank, for our cooperation and success in preparation for the 27th Universiade that was held in Kazan, Russia, on 6-17 July 2013.

Watch2Pay - part of the payment ecosystem created for Universiade in Kazan by AK Bars Bank and OpenWay

Watch2Pay - part of the payment ecosystem created for Universiade in Kazan by AK Bars Bank and OpenWay

“Allow us to express our deepest thanks to you and your company’s staff for your great contribution to the success of Universiade 2013 in Kazan. Together with the Bank, OpenWay Service implemented innovative bank products used during Universiade 2013, such as prepaid cards, volunteer cards, accreditation cards, guest cards, Pay2Watch watches, and NFC via SIM. Also, ATMs, POS terminals and kiosks supporting innovative WAY4-based banking technologies were deployed and launched at Universiade facilities in the shortest possible time.

Some of the products were implemented in Europe and Russia for the first time. Products created together with your company were highly appreciated by visitors and citizens of Kazan, as well as participants of Universiade 2013.

Solutions created by your company demonstrated high reliability and fault tolerance. We hope for further effective cooperation in creation of new innovative bank products, and wish you and your company prosperity, affluence and continuous development for the benefit of your clients and Russia’s financial industry in general.”

M. Dubkov, Director of Information Technologies Department, AK Bars Bank

M. Ganeev, Director of Retail Business Department, AK Bars Bank

Oschadbank Launches Multi-Channel Service on the WAY4 Platform

Implementation of a multi-channel personalised remote banking service system based on the WAY4 platform allows Oschadbank to put the concept of a single payment ecosystem into practice. Soon its clients will have access to remote services such as instant issue of virtual cards, security management, and a wide range of payments and transfers, among others.

Within the framework of its retail business development program, Oschadbank has been consistently implementing innovative services in Internet and mobile banking systems. The WAY4 platform used by the bank to manage these channels makes it possible to create a single payment ecosystem that includes four main components: a single client profile, the same scenarios for working with services on all service channels, a wide selection of services with an open interface for their configuration by the bank and branding that is the same across all channels.

Currently, the WAY4 platform at Oschadbank provides ATM management and client service through the Internet. Self-service functionality is regularly expanded with new capabilities. Not only can Oschadbank clients make a standard set of operations from their personal office, they can make payments to arbitrary requisites, manage restrictions on card use and the so-called "transaction window" providing control over access to card accounts. In the near future, in addition to card services, it will be possible to work with credits and deposits.

The next step in expansion of multi-channel service in the WAY4 system is the launch of mobile banking and self-service terminals that will become a part of the ecosystem. Users of Oschadbank's mobile application will be able to manage payment templates, make payments and transfers, get new offers and interact with the bank. A wide range of new services is planned: from security management and issuing virtual cards to remote opening of accounts. 

"More and more clients today consider remote banking to be an essential condition for working with banks. Using this service, clients get maximum convenience with a minimum of time and effort spent. Of course Oschadbank intends to fully develop this effective channel, adding new functions that will be in demand by our clients", comments Anton Tyutyun, Oschadbank's deputy chair of the board. 
"The solution implemented at Oschadbank responds to the newest trends in remote service – from support of mobile payments to electronic wallets and contactless technologies. For cardholders this means full-fledged remote service anywhere in the world where there's Internet access or a mobile connection, through a convenient and familiar user interface with a wide selection of services and the possibility for interaction with the bank" say Mikhail Alexeev, the director of business development, OpenWay Eastern Europe and Central Asia. 

Oschadbank

The Public Joint-Stock Company “State Savings Bank of Ukraine” is one of the largest financial institutions in Ukraine, having the most extensive branch network in the country. Oschadbank is the only Ukrainian bank that enjoys the unique state guarantee on all retail deposits. JSC “Oschadbank” is the most reliable bank according to the “Korrespondent” magazine and the investment company “Dragon Capital” and also holds its leadership in deposit reliability rating according to the Internet-magazine “Real economy”.

OpenWay Announces the Arrival of WAY4 Wallet

The WAY4 Wallet solution is aimed at developing financial services in the virtual and e-money environment. This innovative product has strategic value for banks that are putting an emphasis on attracting and servicing clients through the Internet and mobile applications. The product will be presented at the leading international exhibition - CARTES 2012 - in Paris during an OpenWay workshop that will take place on November 6 at 11:15 in room 2.

Mobile and internet channels are becoming more and more popular as the first choice of cardholders for the way they get service. This is a serious reason to re-examine the approach to providing retail banking services. The WAY4 Wallet solution makes it possible for banks to attract other banks' clients and get fee revenue from servicing their cards through mobile phones and the Internet. Client service is possible not only through the bank's Web portal or application on a client's mobile device but through any Internet spaces or social networks. 

Moreover, thanks to WAY4 Wallet, a visitor to the portal or mobile phone owner can become a bank client without even setting foot in a financial institution: this is done online in a matter of minutes while observing a high level of security.

Thanks to the built-in mechanism for target marketing and cross-sales, the bank is able to approach current and potential clients directly, offering them new products and services. In the virtual personal office, clients can manage their cards, make payments and transfers, receive targeted offers from the bank and respond to them, all from a single point of entry. Using state-of-the-art channels - Internet and mobile phone - WAY4 Wallet can acquire any card: prepaid, credit or debit regardless of the issuing bank. 

WAY4 Wallet can be used as a personal office in which cardholders can associate their cards, obtain virtual cards and manage them, make financial operations, create any payment templates and receive personal messages from the bank. 

Wim Pardon, Managing Director of OpenWay EMEA, comments: “When developing solutions for working with new service channels, the first thing we do is analyse the demands and expectations of clients actively using these channels. Our multi-channel solution was initially based on the concept of a payment ecosystem, and this approach has totally lived up to expectations. It is now time to take the next step. This means even new clients can easily be registered online, it means expansion of financial space by servicing all the client's financial instruments and moving into social networks and a lot more that allows companies using WAY4 to be attractive to an audience that is used to good service in the virtual dimension.”

WAY4 Becomes a Key to M-PESA Mobile Accounts in Kenya

Equity, the leading bank in Kenya, has migrated to OpenWay's WAY4 payment processing system. With WAY4, Equity can work as a payment switch and launch new services for retail customers, including acquiring EMV cards and interacting with M-Pesa mobile accounts. Participation in the M-Pesa project has secured the bank’s position in the promising micropayments market.

“The new system not only gives Equity a strong competitive advantage in cutting edge technology and card management, but allows speedy and efficient transaction process in real time, and in all currencies,” stated James Mwangi, CEO of Equity Bank.

The bank leverages WAY4 to work as a payment switch and optimise the financial interaction of its branches, offices and partner banks in the region. Furthermore, Equity ATMs countrywide allow M-Pesa users to withdraw cash from their mobile accounts.

The M-Pesa system allows mobile payments and transfers without the necessity of opening a bank account. These services are used by ten million people in Kenya, many of whom are unbanked. Thanks to participation in the M-Pesa project, Equity not only expands its business in new directions but also gets the opportunity to offer its retail banking products and services to a large potential customer base. 

Equity’s success confirms the advantages of the WAY4 processing platform as a powerful new generation switch, or, as it’s more often called today, a payment service hub.

«We are happy that WAY4 switch functionality helped Equity to transform possible competition into a strategic and profitable partnership. The experience OpenWay has gained from this project will benefit all our clients who set ambitious goals in the area of micropayments», adds Wim Pardon, Managing Director of OpenWay EMEA. 

Equity Bank

Equity Bank of Kenya (www.equitybank.co.ke) is the largest and fastest growing bank in Kenya, with 4.5 million client accounts that constitute more than 54% of all client accounts in the entire country. The bank also has branches in Uganda and South Sudan. Equity Bank has a reputation as an innovator in banking and financial services.

 

M-PESA

M-PESA is the first Kenyan commercial mobile payment and transfer system, created in March 2007 by Safaricom with the support of Vodafone. The system was created for people who don’t use bank services. This innovative project turned out to be in high demand on the African market. According to information as of March 2010, M-PESA has over 9.5 million subscribers, served by 17,500 agents

 

OpenWay’s WAY4 Processes AIS Mobile Top-up Transactions

OpenWay, a global provider of payment processing solutions for banks, telcos, processors and government agencies, announces the successful migration of Advanced Info Service Plc. (AIS) “Refill-On-Mobile” solution to WAY4.

Today, WAY4™ manages all prepaid phone mobile-refills and bulk purchases for AIS.

The OpenWay team replaced AIS's legacy system with WAY4™, establishing greater PIN security and offering an enhanced multi-level agent-based USSD top-up together with a host of other pioneering features, asserting OpenWay’s leadership in providing secure and high-performance transaction processing solutions. 

“WAY4™'s ability to process AIS’s high volume top-up transactions with built-in fault tolerance affirms WAY4™ as the industry's most compelling technological proposition for mission-critical, high-performance systems requiring exceptional reliability, " said Wim Pardon, Director of OpenWay Belgium. “This deployment by one of Asia’s largest mobile services providers demonstrates the outstanding value OpenWay provides through our market-leading combination of quality engineering and advanced technology.”

In addition to the benefit of enhancing the existing top-up features, WAY4™’s solution framework presents a string of business possibilities which allow AIS to innovate and bring new features to the market quickly. 

"WAY4™ is an excellent illustration of how AIS brings together the best of breed enterprise solutions to deliver new levels of service experience to our business partners and mobile subscribers. We leveraged on OpenWay’s experience in secure payment transactions and WAY4™’s flexible solution framework to enhance our mobile refill system and to cater to the dynamic and rapidly growing business. Since then the transaction volume has increased by more than 30% and AIS agents have doubled." says Tay Yeow Lian, Vice President, Product Development, AIS.

What is WAY4™ Mobile Top-up?

WAY4™ Mobile Top-up is a mobile refill transaction processing solution from OpenWay. It has been designed to work with mobile solutions to process high-volume transactions and provide the necessary transactional and system security and reliability. Rich and proven in functionality, WAY4™ Mobile Top-up is best qualified to meet the needs of telcos in transaction management and to support innovation in mobile services.

Advanced Info Services Plc. Thailand (AIS)

Advanced Info Service Public Company Limited (AIS), a subsidiary of Shin Corporation PCL., is the established leader in Thailand’s wireless communications industry after more than 15 years of services with its market share more than 50%. To date, AIS service network covers 795 districts (Amphur) throughout Thailand, plus international roaming across in six continents. AIS has continuously enhanced and expanded its network in order to respond to the market and technological advances, whilst keeping abreast of consumers’ growing demands and needs. It continues to integrate the latest in advanced technology and deliver more than just voice communication, with GPRS and EDGE technology. AIS strongly believe that wireless communications bring changes to the way Thai people live their life, regardless of who they are and what they do. With endless communications possibilities, the quality of life is better.