processors

Is your fuel card system future-proofed? A checklist for CEOs and CIOs

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Everyone loves changes, nobody wants to be changed. Payments are one of the most dynamic areas in the fuel retail business, encompassing how customers pay at fuel stations, how fleet companies control their fuel expenses, and how merchants motivate customers to pay faster and buy more. At some point, to meet the ever-changing customer expectations, you have to look at your current fuel payment system and ask yourself: ‘Is it still fit-for-purpose? Do we need to change?’         

Your system probably fits the needs of your business now and for a couple of years into the future. But will this still be the case in 2022? We encourage you to challenge yourself. Is your current system for managing fleet card payments ready for your “next big thing”? 

walter

This checklist was designed by Walter Van Huyck, an expert in fleet card systems who has led the development and marketing of international fleet card systems for major fuel retailers, such as Lukoil and ConocoPhillips. Now Walter works as Business Relationship Manager at OpenWay, a software provider of fleet card issuing and acceptance solutions. 

CEO checklist
  1. Does your system support business growth? 

This is the most important question. When you expand cross-border, your fuel card system should support multi-currency payments and be compliant with local accounting regulations. If you acquire or merge with another fuel company, the system should be able to handle multiple entities, with streamlined card payments operations across all business units. Furthermore, if you have a successful year and double your customer base, your system should be able to process increased volumes without issues. Modern systems provide scalability and do not limit your growth opportunities. 

2. Are you flexible enough to provide the best experience for your customers? 

As a fuel retailer, you want the best service experience at your petrol stations for corporate drivers and individual customers alike. They deserve the latest payment innovations you can offer. But if your card system or service provider is lagging behind, you lose control over how and when you roll out new features.

For example, real-time payments have become a game changer for corporates. Your system should be able to check the limits, assess risks, calculate the best price, and apply discounts – all online and in real-time. Fleet managers expect to see the updated balance just moments after the top-up.

For individuals, mobile and wearable payments can be a good differentiator. If drivers prefer to pay without leaving their car, then petrol stations should be able to accept this type of payment – whether it is QR-code, NFC, or in-app based. Sometimes, such innovations bring even more value to the business. One of our customers now delivers a fuel card directly to the driver’s mobile app. Users pay at stations by scanning a barcode. No plastic card is needed. They can check the balance and amount available on their account, limits on petrol types and car services in real-time. For the fuel company, it has brought significant savings on plastic card issuance and eased the pressure on customer support staff.  

3. Is your business compliant? 

If you operate in Europe, your system supports the IFSF standards as a matter of course. But recently there have been a few regulation changes that do not apply to the fuel business directly but mandate changes in business processes around customer data and the security of payments, e.g. GDPR and PSD2. Can your system adopt theses new requirements easily?     

4. How does card management fit in your business ecosystem?

B2B customers expect to be onboarded just in hours or days, not months. Also, they want to perform most fuel card operations via online portals and mobile apps. At the same time, fleet managers prefer to receive reports on fuel expenses in near real-time. This means that the whole business should work as a well-oiled machine, without interruptions and bottlenecks. This can be achieved if the core payment platform is truly online and integrates with other business-crucial components through standard, open APIs. This delivers business automation and enhances customer service. 

5. Do you have enough control over business development and service quality? 

Want to set up a new rule for price calculation for VIPs or launch a new card for tourists? How long will it take for the IT team to satisfy your request? Also, controlling service quality can be a pain point for companies that rely on third-parties to run their card business. For some types of fleet companies guaranteeing 100% service stability is a must. As an IT director of a major fuel network that uses our platform puts it: “It is not the end of the world, if a person can’t pay at the supermarket because of system downtime. But ambulances can’t be kept waiting at our stations. It may cost a life and it will definitely cause fines and reputational damage for us”.    

CIO checklist
  1. How quickly can you support requests from business?  

 Normally, a new product feature should be a matter of configuration, not a heavy customization exercise. And your team should be able to do this without vendor involvement. Sometimes new functionality can be a challenge if the current system was tailor-made for your company. You cannot always benefit from developments made for other users. So, a standardized off-the-shelf solution could be the answer.   

2. Calculate how much money you spend on payment systems integration 

Maybe it is high time to optimize the architecture to remove redundancy and complexity. For example, some of our customers manage card issuing, acquiring, and transaction switching for several countries on a single platform. This centralization delivers maintenance and vendor management savings. If you migrate data from legacy systems, the new system should be able to accommodate customer data, so that unification does not cause a loss of valuable information. 

3. Do you have enough control over your system? 

In-house vs. outsourced operations? There is no right answer here. An in-house system means agility and full control over your business, which comes together with significant investment in the team and infrastructure. On the other hand, outsourcing card operations means almost no levers of influence on the product roadmap and service stability. A good alternative can be to run your system in the cloud, thus cutting infrastructure costs while still retaining control over the product.  

Summary 

Assessing your card payment systems is not an exercise to be undertaken daily or even monthly. But some factors, such as a business expansion strategy targeting new geographies or customer segments can trigger the change and open new doors.  

Our experts will be glad to share with you how fuel companies can drive a better customer experience on WAY4, the leading digital payments platform.

Leading Chilean Processor and OpenWay To Power Banco Consorcio’s Credit Card Business

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Santiago, April, 2019

Banco Consorcio has successfully launched a credit card business with Nexus, the major processor in Chile. The Nexus platform is built on WAY4, a top-ranked digital payments software provided by OpenWay. 

Banco Consorcio, founded in 2009, specializes in consumer and commercial loans, mortgages, deposits, real estate financing and other services. It is a member of the Chilean financial conglomerate Consorcio Financiero.

To support the conglomerate’s strategy of financial development and expansion, Banco Consorciodecided to launch consumer card issuing. The bank received issuer accreditation for credit and debit Visa cards at the end of 2017 and carefully reviewed possible processing partners to kick-off its new business line. Banco Consorcio chose Nexus thanks to its market leadership, innovative approach to product development and highly flexible card management platform.

Nexus serves more than 60% of the credit card market in Chile. Among its customers are 15 issuers, including banks, local and international financial institutions and private label retail schemes. The company is gradually migrating its card portfolios to the WAY4 system, which helps it to compete more strongly in the Chilean payments market and meet constantly changing customer needs. Nexus can maintain high volumes and customize products in a fast and cost-efficient way on the new system.WAY4 also efficiently processes data to personalize services and ensure a better payment experience for Nexus clients. 

About Nexus

  • Nexus is the leading credit card processing company in Chile and has been in the market since 1997, offering services to almost all banks and retail institutions in the country. 

  • The company´s main core business areas are: transaction authorization, card management processing, online channels, card personalization, payment security (including fraud prevention) and business intelligence to support issuers’ strategies. 

  • During 2018 Nexus processed more than 9 million accounts and 4 billion online transactions. 

  • At Nexus we are driven by our purpose: provide great payment experiences every single second of the day – immediate, easy, smart and safe.

OpenWay and Gemalto Accelerate the Security of Digital Payments

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  •  OpenWay, a global leader in digital payment processing software, today announced the successful integration and compatibility of its WAY4 payment processing platform with the Gemalto SafeNet Payment Hardware Security Module (Luna EFT 2). This means that processors, card issuers and merchant acquirers that are already using this HSM do not need to invest in additional cryptographic infrastructure when migrating to WAY4.

  • The Gemalto SafeNet Payment Hardware Security Module’s broad payment security functionality, flexibility and high-end physical and logical security architecture, along with PCI-HSM certification, makes it one of the most comprehensive encryption solutions on the market. It can be used for both in-house and cloud deployments of the WAY4 processing system. 

Gemalto’s SafeNet Payment HSM also helps to ensure the security of payment processing environments for credit and debit cards, e-wallets, as well as online and mobile payment applications. To protect contactless mobile payments, it manages the entire cryptographic process from card enrollment and provisioning to tokenization and transaction processing. The solution specifically helps payment providers adhere to EMV security standards on both issuing and acquiring sides. 

“As the growth of digital payments, specifically mobile payments, continues to accelerate, solutions that provide security, flexibility and cost savings will be in high demand. We believe that the SafeNet Luna EFT Payment HSM will provide WAY4 users with the scalability and flexibility they require when operating in the fast-moving digital payments market,” said Todd Moore, SVP Encryption Products at Gemalto

“Seamless security of transactions is on top of mind for our customers. For many years OpenWay has been relying on the skills and expertise of the Gemalto’s payment security team, and now we’ve extended the range of compatible HSM devices with the SafeNet Luna Payment HSM. Our collaboration with Gemalto enables our customers to explore new business opportunities, such as online and mobile payments, in a more secure and cost-efficient way,” said Dmitry Yatskaer, CTO at OpenWay

WAY4 is an open, omni-channel digital payment and card processing platform. It supports digital wallets, private label and branded card issuing, as well as merchant acquiring, financial switching and channel management. WAY4 is deployed by tier-1 banks and payment processors across the globe. OpenWay has a reputation for innovation, being one of the first in the world to support OEM-wallets, payment schemes tokenization, and the 3-D Secure 2.x protocol.  

Gemalto and OpenWay solutions undergo regular audits to meet the requirements of PCI Security Standards Council (PCI-HSM and PA-DSS certificates respectively) and are certified by major international payment schemes.

Would-Be Unicorn Seeks to Undercut Banks With Secure Cloud

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As startups and investors gather in the most innovative country in the world, a financial newcomer wants to become a unicorn by providing faster and cheaper ways of processing credit card transactions.

There’s just one catch: it needs to persuade security-conscious clients to let their financial data be handled by a cloud service managed by an American retail giant.

“Our biggest challenge is the customer mindset,” said Monika Liikamaa, the 43-year-old chairman of Enfuce Financial Services Oy, a Finnish payment services provider based just a 20-minute drive from the headquarters of Nokia.

On Tuesday, she’ll be speaking at a popular startup meetup in Helsinki called Slush, which is expected to attract a crowd of more than 20,000 entrepreneurs, investors and nerds.

Banks are generally reluctant to let industry entrants run their infrastructure, and few fintechs dare try. Enfuce, which was founded by local industry veterans, bucks the trend.

In its first full year in business, in 2017, it made 3.3 million euros ($3.7 million) in sales, generating a profit of just under 300,000 euros. One of its first major clients was Finnish gas station chain ST1, which wanted a fully fledged credit card system, including support for Apple Pay. Enfuce is now targeting global sales of 600 million euros and a valuation exceeding $1 billion by 2025.

Amazon Cloud

Its basic business idea is to run a credit card system without owning expensive computer servers, which can quickly become obsolete. Instead, transactions and card data are hosted in commercially available servers owned by Amazon Web Services and located inside the European Union. That allows the system to instantly and easily adapt to demand spikes, such as on payday, while keeping costs in check.

The data is backed up every second, so when things go wrong, the customers’ cards stop working for just that second -- meaning most would never notice an outage. The services are secure and fully compliant with regulatory requirements, Liikamaa said.

The company acknowledges it faces a tough job convincing potential customers that third-party servers can be as safe as computers owned by the banks. Still, Enfuce has found that while banks are often intrigued, their compliance departments tend to put on the brakes.

“To some extent, the fear of cyber crime may be an issue” when it comes to the acceptance of new technologies, said Nina Rudanko, co-founder of industry organization Fintech Finland.

Liikamaa insists that some form of outsourcing makes sense.

Banks are so busy turning themselves into IT companies these days that they haven’t stopped to properly think about whether that infrastructure could be provided more cost-effectively and quickly by someone else, she said.

New World

“I wish Nordic banks dared to co-operate more,” Liikamaa said. “The banks’ business shouldn’t be about running IT. Banks should worry about supporting their customers in figuring out how to save and invest, buy a home and make payments. We can take care of the infrastructure.”

Enfuce’s wishes may soon be granted.

Although traditional banks tend to be “monolithic,” as Aleksi Grym, an adviser on digitization at the Bank of Finland, put it, the biggest lender in the Nordic region welcomes competition in the banking infrastructure space.

“My hope is that some of those technology companies that try to go into the core banking space" are successful, said Paul Bari, chief information officer and head of technology at Nordea Bank Abp. “Competition is healthy.”

Source: Bloomberg

Enfuce Financial Services - A Reflection on 2018

Enfuce is a Finland based forerunner in cloud-based financial services, with focus on the future of payment solutions and a global mindset.

Enfuce is a Finland based forerunner in cloud-based financial services, with focus on the future of payment solutions and a global mindset.

OpenWay is proud to have Enfuce Financial Services as a partner!

Denise Koskinen, CEO - Enfuce Financial Services:

I believe in reflecting on achievements, to be able to set new and greater goals for Enfuce. Therefore, I will end this year by reflecting on our achievements during 2018. Our mission for the year was to prepare the company for future growth. To enable that growth, we decided on a few objectives to guide us and to push us further.

These objectives were the following:

  • Explore the idea of an Open Banking platform further, for a more comprehensive offering for the payment industry.

  • Further development of our Digital Payment Platform

  • Brand awareness – who are we and what do we do?

Further development of our Digital Payment Platform

In the beginning of 2018 as we were focusing our ambitions to go beyond the Nordic countries, we also saw the need to prepare our own digital payment platform. This work has taken most of our time and efforts this year, but it has all been worth it! Today we are proud to say that we have partnered up with OpenWay, who will enable a global growth for us with their Way4 solution. 

The two most important things in running a Digital Payment Platform are hygiene factors such as high availability and PCI DSS compliance. When we go beyond hygiene, then it’s all about supporting customers in the rapid pace of change in the financial services industry – a change that is mostly due to the digital disruption we are facing.

Today, we have both hygiene and business advantage in place to support both existing and future customers of ours. Something I feel very proud and confident in!

Read more: Enfuce Official Website

BORICA: The Migration to the WAY4 Card Management System is Underway

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BORICA gathered nearly 100 client representatives from the Bulgarian banking sector together for a seminar dedicated to the BORICA New Generation program. This project to implement a new, modern platform for card authorization, processing and real-time fraud prevention started at the beginning of 2018 and is expected to be completed by the middle of 2020. The WAY4 software solution is developed by the leading software supplier, OpenWay. Its card management, terminal and fraud prevention technology provides reliability, security, flexibility and a high degree of parameterization to support rapid deployment of new products and services. 

"There is a large-scale project of the bank migration to the new payment platform, including ATM management, POS switching and merchant acquiring, 3D Secure e-commerce gateway, and card issuing. From now on, banks have to plan and budget for the migration within their organizations. The process itself includes participation by both banks and BORICA and a number of subcontractors, which requires a high degree of consistency in mutual work," said Miroslav Vichev, CEO of BORICA.

The WAY4 card solution is available on a SaaS basis.

"It is complex and multifunctional and also includes modern fraud prevention and risk analysis functionality, which offers much greater possibilities than that we have had so far," explains Radoslav Dimitrov, director of cards and terminals, BORICA.

WAY4 also helps with the implementation and marketing of new products and services within a short timeframe, streamlines processes, services and functionalities and ensures a high level of service availability. "The system is duplicated in two separate locations, each of which has standby capacity," he added.

"We chose the WAY4 CMS (card management system) because of its rich functionality. The ability to parameterize products and services enables banks and users of the system to quickly achieve their business goals," explained Anna Angelova, director of payment services at BORICA. "The system is offered on a cloud service basis, which allows customers to save money and gives them a high degree of flexibility when launching new products and services," she added.

The migration process also involves transferring participants with their own authorization systems to the newly-built National Switch, plus the migration of ATMs, POS terminals and 3D Secure to WAY4.

"The ATM network management and monitoring system will be offered as a service and can be used by all banks in Bulgaria, not only those in the BORICA card model," said Anton Borikin, head of ATM payment acceptance and POS, BORICA. The bank's payment levels will depend on the functionality of the bank, he added.

The WAY4 system also has strong functionality to prevent card fraud with high speed and reduced response times.

"In practice, fraud monitoring is integrated with the card management system, which includes risk levels and scenarios that trigger automatic alerts," said Yassen Yanev, head of card fraud protection at BORICA.

"The migration schedule of each institution, as well as its financial dimensions, depend strongly on the business priorities and the specific resources and time available at the banks," said Katerina Blagoeva, program manager "BORICA New Generation". Balgoeva expressed the readiness of the team to cooperate as efficiently as possible with banks in their transition to the WAY4 system.

Source: BORICA official website

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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.

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).

Acquirers on WAY4 Platform Now Can Serve Marketplaces

Source: Stichting Nationaal Museum van Wereldculturen 

Source: Stichting Nationaal Museum van Wereldculturen 

OpenWay, a WAY4 platform developer and recognized leader in software for bankcard acquiring and issuing, digital banking, omni-channel payments and e-commerce gateways, has enhanced its acquiring solution to enable customers to attract and serve merchant aggregators and marketplaces.

According to the study Rise of the Global Market Places study, prepared by the E-commerce Foundation and Nyenrode Business University, marketplaces will control 39% of the world’s entire e-commerce market by 2020. For acquirers and PSPs, serving marketplaces promises attractive profits, but also requires tailored solutions to meet the specific needs of marketplaces. 

This includes setup of complex merchant hierarchies and fee sharing schemes, seamless merchant onboarding, and smooth settlement among multiple parties. Additionally, there are special requirements around authorization and clearing processes, as a single order may often comprise goods purchased from single or different merchants. This means that different parts of the order may be shipped and delivered separately. At checkout, the processing system should be able to generate a single authorization for the total order, but also later process a separate clearing transaction for each shipment. 

With recent enhancements, the WAY4 platform meets the needs of marketplaces, which in turn opens up new acquiring opportunities for OpenWay’s customers worldwide.

On top of these business specifics, marketplaces want to offer their customers local and global payment methods, as any other e-commerce business with cross-border reach. They want to process payments in multiple currencies in 24/7 online mode, complete sales in a quick and secure way, and access payment information via a convenient online portal. This functionality is already considered a must-have in our digital era, so OpenWay has gone further. We allow our acquirer customers to design and deploy new business models together with their merchants. This includes value-added services such as wallets, loyalty schemes, dynamic currency pricing, and many more. 

WAY4 Acquiring is an end-to-end solution for acquirers, PSPs, PISPs, and payment processors that provides both merchant management and e-commerce gateway functionality. The solution powers 14% of acquiring transactions in Europe and helps payment providers to onboard and serve any type of e-commerce or brick and mortar merchant. 

Online back-office on WAY4 supports accounting, comprehensive fee structures, flexible merchant hierarchies, unlimited pricing and settlement currency pairings, chargeback management, and advanced tools for online fraud prevention. WAY4 E-commerce Gateway is built to accept both card and non-card payment methods in an omni-channel environment and accommodate flexible authorization scenarios. The solution supports the up-coming 3-D Secure 2.0 standard and strong customer authentication requirements outlined by PSD2. It is proven to work online 24/7 with high transaction volumes.

Network International Leads Emirates NBD's Credit Card Migration to Network One platform based on WAY4

Network International has migrated an Emirates NBD's issuing business to Network One based on WAY4 solution by OpenWay .

Network International has migrated an Emirates NBD's issuing business to Network One based on WAY4 solution by OpenWay .

Incorporating the world-recognised WAY4 payment processing system by OpenWay, Network One will enhance and accelerate Emirates NBD's ability to create bespoke cutting-edge products for its credit and prepaid card customers based on payment behaviour, giving them a distinct edge over competitors.

Network International's seamless migration of a large-scale portfolio of the leading cards issuer in the market, Emirates NBD, marks an important milestone for the payment solutions company as it looks to consolidate its market leadership in the UAE and strengthen presence across the Middle East and Africa.

"Successfully implementing Network One migration for a large-scale cards player such as Emirates NBD is a solid testament of our expertise and capacity," commented Network International's Group CEO Simon Haslam. "We are delighted to be Emirates NBD's partner of choice in this critical project as we mark new ground as the unrivalled regional leader in card issuing."

Added Matt Sinclair, Group Chief Information Officer of Network International, "This project underlines Network International's core purpose of enabling clients to strengthen their capabilities to grow and maintain market leadership. Our well-coordinated approach helped deliver a seamless solution to Emirates NBD, migrating the entire cards portfolio seamlessly. We now look forward to lending our expertise to other banks in the region looking to upgrade their proposition with value-added payment services".

Network One is based on a framework that allows innovative payment and card products to be created by monitoring the behaviour and attributes of a payment. It also fully supports the implementation of value-added services such as loyalty programmes, mobile payments, loans and fraud management.

Suvo Sarkar, Senior Executive Vice President & Head - Retail Banking & Wealth Management commented: "The Network One platform offers us enhanced speed and scalability, and will allow us to provide more customized and innovative banking and payment solutions for our customers, helping us to remain their bank of choice."

Network International has previously successfully migrated 15 other banks across the Middle East and Africa to Network One.  Network International is currently the exclusive partner and reseller of OpenWay's licensed solutions within the Middle East and African markets.

About Network International

Established in 1994, Network International LLC is the largest acquirer in the UAE, and a leading payment solutions provider in the Middle East and Africa region (MEA), servicing more than 70,000 merchants and 200 financial institutions across 55 countries. The company’s service offering comprises a comprehensive range of payment products and services for both the Issuing and Acquiring segments of banks, financial institutions and retail merchants including end-to-end consultancy ranging from planning and designing to developing of new card and consumer finance products and services. In addition, the company offers several value-add products including data analytics, scoring and loyalty solutions. Network International has Operation centers in the UAE, Egypt, Jordan, South Africa and India, with its corporate head office in Dubai. The company recently acquired Emerging Markets Payments Holdings Limited (EMPH) and continues to invest in strategic partnerships that will increasingly see its influence spread across the region.

As the first independent vendor certified by both Visa & MasterCard for card payments in the Middle East, Network International is a Principal Member of Visa International and MasterCard International in the UAE and enjoys extension of its MasterCard License in other key countries. It is also a member of JCB and Union Pay card schemes, and it owns and manages the Diners Club International Franchise in the UAE, Egypt, Lebanon and Jordan. The company also launched a GCC-based domestic scheme, Mercury, and partnered with Discover Financial Services (DFS) to allow global acceptance of Mercury cards on the Discover, Diners Club International and PULSE networks. Network International is a Payment Card Industry Data Security Standard (PCI DSS) certified company.

Nets Migrates to WAY4 Issuing to Advance its Bank Customers Card Business

Arnold Sneijers, SVP, Nets at OpenWay Club 2017

Arnold Sneijers, SVP, Nets at OpenWay Club 2017

CMS migrations completed for multiple banks in 3 countries. Nets and its migrated banks have successfully passed PCI audits on WAY4. The largest migrated customer portfolio consisted of over 1 million cards.

Nets, the household name in Scandinavian payment processing, is on-boarding Nordic issuer portfolio’s in credit cards and sales finance onto WAY4, the e-payment processing framework developed by OpenWay. Card portfolios of five banks in Finland, Norway and Denmark are already being processed on WAY4 and soon also the migration in Sweden will be completed. For now the payment transactions of more than half (52 percent) of credit cards in circulation in Finland are processed through WAY4. Since the platform adheres to the highest security standards, the processor and the migrated banks were able to pass PCI audits smoothly and in time. More issuers are set to follow as part of the large-scale migration process.

Innovative payment services are in strong demand among an increasingly tech-savvy and mobile Nordic population. In-sourcing portfolio’s from legacy systems to the modern WAY4 platform allows Nets to operate its consumer issuing business cost-efficiently, as well as to attract new banks by offering the latest value propositions in self-service, sales finance and increase the profitability of the banks. 

WAY4 card management functionality covers flexible rule-based consumer account management and product pricing, online risk management and comprehensive accounting. Nets has also implemented additional software modules, such as WAY4 Web-based Workbenches, WAY4 Instalments, and WAY4 Debt Collection. 

The OpenWay team enhanced the WAY4’s Datamart solution to support Nordic requirements. Datamart serves to generate statutory reports for government authorities and customized interactive reports for analysis of card business profitability – by products, time periods, financial institutions and other parameters. 
The single largest activity on the project was the simultaneous migration of over 1 million cards onto the portfolio.

Arnold Sneijers, SVP, Nets comments: “These migrations are one of the largest that we have embarked on with an outside partner in recent times, involving the full life cycle of credit cards and with significantly large volumes. WAY4 was chosen for its flexibility and proven record of payment innovations. It supports Nets’ bid to cater for every possible need of our customer banks. We are sure that every bank will benefit from cost-effective development of their consumer business in credit cards and sales finance and better time-to-market.” 

Maria Vinogradova, Director of Strategy & Marketing Intelligence, OpenWay, adds: “OpenWay is proud to back up Nets’ ambition to remain one of the leaders and innovators of European processing. With more banks in the queue, our team is committed to ensuring seamless migration for each of them, and to strengthening their portfolio with value-added payment services”.

OpenWay Recognised as Global Market Leader in Card Management Software Solutions

OpenWay, a global provider of WAY4 software solutions for bankcard issuing and acquiring, transaction switching and omni-channel payments, has been recognized as ‘Market Leader’ by Ovum, an independent research firm, in its recent report “Ovum Decision Matrix: Selecting a Card Management System Platform, 2015–2016”.

Ovum shortlisted 13 well-known CMS solutions from different international vendors, and classified them in three categories: Market Followers, Market Challengers and Market Leaders. OpenWay was classified as Market Leader and, moreover, achieved the highest scores for the majority of assessment criteria. 

“With its strong focus on open architecture and flexible modular design, OpenWay Group has grown rapidly in its 20 years of operation to become a major player in the card management systems space. With an impressive client list, and a proven track record of large-scale deployments, the WAY4 platform has proven itself capable of meeting the needs of most payment providers for issuing, acquiring, and commodity processing services,” the Ovum analysts conclude in the report.

The research further rates the WAY4 platform particularly strongly against competitive systems. OpenWay emerges with the highest level of overall market impact and technology scores. The market impact is mainly attributed to the breadth and scale of OpenWay's high-profile clients while the technology score is being ascribed to the platform architecture, broad core functionality and its multi-regional support capability. 

OpenWay’s recognition by Ovum follows the notable recognition of the company by Gartner in 2009 and 2010. In Gartner’s “MarketScope for Multiregional Card Management Software” OpenWay received the highest ‘strong positive rating’.

WAY4 CMS is a fault-tolerant open-platform software solution. Because of smart flexibility, customers can configure their own products and services based on WAY4’s business rules that cover customer experience, accounting, fraud prevention rules, personalisation, currencies, and other parameters. There are no technical limits in WAY4 in terms of the number of cards, accounts, terminals, cardholders and merchants, currencies, FX rates and languages. It is the only payment processing platform where the front and back office are integrated online. It gives OpenWay’s customers migrating to a digital banking architecture an opportunity to launch comprehensive online products and services, omni-channel, transaction switching, and payment hubs.

Maria Vinogradova, Marketing Director, OpenWay, noted: “We are proud that WAY4 software solutions gain persistent market recognition. We believe that the secret lies in the efforts of our experienced and committed team and in our clients that motivate us all the time to go the extra mile.” 

Ms Vinogradova explains that the market is changing, with classical banking being replaced by digital payments delivered at lower cost, better customer experience and value-added services based on customer lifestyle. “Many of new services, such as NFC (HCE), digital wallet and m-commerce, have been implemented in WAY4 and used by our clients while others are included in the WAY4 roadmap. Our goal is to support our clients to make them the first to benefit from the latest innovations,” she says.

To learn more please download the full report here.

OpenWay and Finnet Celebrated 10 Years of Partnership

In spring 2015, OpenWay, a recognized leader in software solutions for bankcard issuing and acquiring, payment processing, and omni-channel, and Finnet, one of the leading electronic payment platform and online payment solutions company in Indonesia, celebrated 10-year anniversary of the successful partnership.

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10-years history of the partnership was marked by some significant results. Now Finnet uses the WAY4 platform for transaction switching between more than 60 banks and 20 billing companies. The WAY4 Switch has already replaced one switching platform in Finnet and been selected to replace two switching platforms more. WAY4 is to support 120,000,000 transactions in 2015. Finnet plans to grow significantly in transaction flow on WAY4 further.

Rudy Gunawan, Managing Director, APAC, OpenWay, noted: “We truly appreciate our partnership with Finnet. It helps our both companies to achieve outstanding goals in shaping the payment landscape of the Indonesian market, and we believe we will achieve even more together.”

Erman Suherman, Operation, IT & Innovation Director, Finnet, said: “We are completely satisfied with OpenWay as a partner and its innovative product WAY4 as a switching solution. We chose WAY4 for its flexibility, modularity, and cost-efficiency. During these years OpenWay proved to be a reliable and supportive partner”.

As a part of this partnership OpenWay and its partner Metro Asia Pacific organised an anniversary workshop for the Finnet team. During this workshop the participants shared the latest trends of the world payment industry and discussed the opportunities in the Indonesian market. OpenWay presented the WAY4 product roadmap, and its innovative products - WAY4 HCE, WAY4 Wallets, WAY4 Shop, and WAY4 High Availability.

New Generation of WAY4 Switch is Fully Compliant with PA-DSS

At the beginning of 2015, new generation of the switching solution developed by OpenWay, a recognized leader in software for bankcard issuing and acquiring, payment processing, financial transaction routing, and omni-channel, successfully passed a payment solution security audit (PA-DSS).

The new WAY4 Switch is based on a Java messaging platform allowing OpenWay clients to customize their host-to-host interfaces and routing rules easily using new industry-standard scripting languages. Certification confirms new switching solution compliance with PA-DSS requirements. The entire WAY4 platform including WAY4 CMS & Switch is successfully certified. Past years the WAY4 CMS and Switch components of the WAY4 platform regularly passed PA-DSS audits. A PA-DSS certificate is proof that the WAY4 software platform guarantees banks and processing companies secure processing of card data and makes it possible to implement these solutions in PCI DSS-compliant IT infrastructure.

WAY4 is the only processing platform in the world with an integrated front and back office. This unique structure allows OpenWay clients to run smart online services that consider a product's business logic and client and channel specifications. Services can be launched quickly based on unified business objects and flexible rules. Working with WAY4, the bank does not bear the risks and expenses linked with integrating the processing system's back and front offices. This is because all card and client data is available in real time on a single platform. The WAY4 processing platform thereby enables financial organisations to innovate and cut costs.

The PA-DSS audit covers all of the WAY4 platform components for issuing, acquiring, switching, e-commerce, loyalty programmes, business analysis, risk management, dispute management, workbenches, merchant portal, SMS banking, and others. The full list of certified solutions on the WAY4 platform is available on the official PCI DSS website. 

Alain Vansnick, Sales Director EMEA and Americas, at OpenWay says: "We are regularly certified and believe that PA-DSS compliance of a vendor's payment solutions is mandatory in our business. Only by offering a product that complies with all security requirements can we ensure that it will enable the client to profit and compete in the market".

Being the Core of the National Payment Ecosystem

PT Finnet Indonesia was established in 2005 as a subsidiary of PT. Telkom Indonesia, Tbk (TELKOM), the country’s largest telecommunications company. Finnet runs three lines of business: a bill payment aggregator, an electronic payment platform and online payment solutions. Today the company is central to the national payment ecosystem, with all the major banks, billers, e-money issuers and non-bank payment providers in Indonesia connected to Finnet.

OpenWay Group has been supporting the Indonesian payment leader ever since Finnet migrated to the WAY4 Switch platform nearly a decade ago. “During these years OpenWay has proved to be a reliable and supportive partner,” says Erman Suherman, Operation, IT & Innovation Director, Finnet.

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Migration to WAY4 Switch – Reasons and Outcomes

Soon after Finnet was established, the company realized that legacy transaction switches could not fully support its strategy of “becoming the leading Indonesian and global-scale service provider of electronic payment systems”. Most solutions on the market were just back-end systems relying on XML protocol. Finnet required an innovative payment switch platform with powerful messaging, high availability and a modern mechanism for seamless integration and building online interfaces between information systems. 

WAY4 Switch platform from OpenWay Group met all those requirements and more. Erman Suherman adds: “We chose WAY4 for its flexibility, modularity, and cost-efficiency.“

The migration was accomplished swiftly by the vendor’s team in 2006. Since then Finnet has been profitably developing the WAY4-based part of its business. The low TCO of the new switch has allowed the company to compete on pricing with banks. Today Finnet serves and connects over 60 financial institutions and 20 billing companies on WAY4. 

In 2015 Finnet achieved 34% annual growth in transaction flow. The year was also remarkable in terms of revenue, achieving 150% growth compared to the same period in 2014.

Finnet recently decided to replace two other legacy systems with WAY4 in order to further reduce the costs of maintaining its payment processing infrastructure.

Syaiful Rahim, Finnet’s Director of Business & Services speaking about WAY4 Switch at the international conference ‘New Trends in Payment Innovations’, Vietnam, 2015

Syaiful Rahim, Finnet’s Director of Business & Services speaking about WAY4 Switch at the international conference ‘New Trends in Payment Innovations’, Vietnam, 2015

A Promising Future

Indonesia’s GDP is on the rise, and so is consumer spending. The unique geographic spread of the population explains the strong demand for branchless financial services. The popularity of online and mobile payments is growing, additionally fueled by the Government’s desire for a “cashless Indonesia”. 

The Indonesian payment ecosystem is transforming. In addition to banks, telcos, billing companies and payment gateways, there is an increasing number of e-money issuers and other non-bank financial providers. The market requires interoperability between all the payment industry players, and here lie rich opportunities for Finnet. 

In 2015 Verifone, Finnet and Telkomsel launched “TCash Tap” – NFC mobile payments in retail stores. Finnet’s role is to provide mobile user access to Indonesia's banks nationwide, facilitate interbank connectivity, and support a wide range of payment types and acceptance options. 

Finnet believes in the future of such projects, and in the benefits of introducing payment innovations of its own. 

To celebrate and support Finnet’s ten-year run of success, OpenWay and its partner Metro Asia Pacific ran a workshop in Jakarta for the Finnet team. The participants discussed payment trends, both global and those specific to Indonesia. OpenWay presented the WAY4 product roadmap, and its most recent innovative solutions – WAY4 HCE, WAY4 Wallets, WAY4 Shop, and WAY4 High Availability.

Rudy Gunawan, Managing Director, APAC, OpenWay, says: “Our partnership with Finnet helps both companies to achieve outstanding goals in shaping the payment landscape of the Indonesian market, and we believe we will achieve even more together.”

OpenWay announces launch of WAY4 Host Card Emulation

WAY4 HCE gives financial institutions an opportunity to implement contactless mobile payments faster and easier. The first live demonstration of WAY4 HCE took place at the OpenWay OnWave user group at the end of 2014 in Paris.

WAY4 Host Card Emulation software - developed by OpenWay, a recognized leader in software for bankcard issuing and acquiring, payment processing, and omni-channel banking services - supports cloud technology specified by Visa and provides value-added financial services for customer attraction and engagement via mobile. 

WAY4 HCE allows banks to issue virtual cards on a phone instantly. In this way a bank can make an existing card NFC-enabled on a smartphone, issue a mobile copy of a lost card, or create a new card while the plastic version is in production. To use it the customer downloads a WAY4 HCE mobile app from Google Play or the bank website, opens it, selects the service, and links a card to the app or creates a new one. To support the service, WAY4 provides the bank with a cloud where all security data elements are stored and available for authorization.

Moving the security element from the SIM card to the cloud means removal of the need for an intermediary between the bank and the merchant, such as a mobile operator or another TSM. As a result, the project to launch the NFC service is simple and quick with lower costs. Using this solution, a bank can save on issuing plastic, restoring lost cards, and delivering cards. The service improves a customer experience, increasing client loyalty and strengthening the bank’s brand.

Alain Vansnick, Sales Director, OpenWay, noted: “The ability to issue NFC cards ‘on the fly’ opens new horizons for client attraction. Banks can offer prepaid virtual cards to potential clients outside their traditional branches – via ads on the Internet, mobile branches or events. For example, a combined co-branded virtual payment card with NFC pass and loyalty functionality can be designed for a musical festival and distributed through a special app for any participant. The customer can top up the new NFC card from any financial instrument.”

When a client makes a transaction on a POS terminal, the system contacts the security element in the WAY4 cloud server and gets there a security key that is necessary for the transaction. The WAY4 architecture assumes a fully secure environment, meeting PCI DSS requirements since sensitive information about cards is not kept on the mobile device.

WAY4 Switch Is Chosen For Regional Interbank Switch In Indonesia

ASBANDA, an Association of Regional Development Banks in Indonesia, and OpenWay, a recognised leader in software solutions for issuing and acquiring, payment processing and switching, and omni-channel, are starting the switching project which will connect 26 Regional Development Banks (BPD) of 34 Indonesian provinces.

OpenWay was chosen because of its broad and successful experience in implementation of the switch projects both of regional and national scale. This vendor’s portfolio includes National Payment Switch for Central Bank of Bangladesh connecting 17 banks, Universal Electronic Card switch for about 15 largest Russian banks serving more than 90 million active cards, and Finnet’s payment gateway with more than 60 banks and 20 billers connected on a single WAY4 platform in Indonesia. 

ASBANDA in partnership with OpenWay will implement a comprehensive flexible BPDNet Online switch solution that consolidates ASBANDA member banks on a single processing platform. The WAY4 Switch solution developed by OpenWay is a solid technical foundation for this project. The planned infrastructure on WAY4 includes connections between all the provincial Regional Development Banks, existing local and domestic switches, mobile operators, and billing aggregators in Indonesia. Volume transaction projection is 20,000,000 transactions for 2015.

BPDNet Online switch will give opportunity to all participating banks to offer a variety of the interbank and payment services to the customers with better pricing and enhanced service. 

Erzon MM, Head of BPD Regional Champion ASBANDA, stated: “BPDNet Online is a big milestone for all ASBANDA member banks. It will optimize the payment infrastructure between provincial banks that allows them to compete with leading commercial banks in Indonesia and deliver the best payment services to customers. Our choice of WAY4 as a processing platform was made due to high security standards, flexibility, time to market provided by this solution. Also we paid attention to the vendor’s reputation in Asia-Pacific region”.

Rudy Gunawan, Managing Director, OpenWay APAC, commented: “OpenWay is strengthening its position in Indonesian market. I believe that our project with ASBANDA will be smooth and well structured because of OpenWay’s relevant project experience in Asia and other regions”.

About ASBANDA

ASBANDA was founded in 1999, the Association of Regional Development Bank (ASBANDA) is an autonomous, nonprofit organization, who serves as the receptacle in unifying and to strengthen cooperation mutual inter bank regional development throughout Indonesia. ASBANDA with the BPD Regional Champion (BRC) program will introduce BPDNet Online solution to the member of ASBANDA as a big milestone to support 27 BPDs to compete with leading commercial Bank in Indonesia.

Raiffeisen Bank International Selects WAY4 for Processing Centre Upgrade

  • Raiffeisen Bank Group consolidates all card business across 17 markets onto a single WAY4 transaction processing platform.
  • WAY4 is flexible to meet different market-specific requirements and changes for banks of Raiffeisen Bank International group.
  • In 5 years Raiffeisen's new WAY4 system is expected to handle 2.5 million cards, covering 60 different product types.

Raiffeisen Bank International (RBI), the leading corporate and investment bank in Austria and well-known retail banking brand across the EU with presence in 17 markets, has chosen OpenWay’s WAY4 platform to upgrade and enhance the issuing and acquiring services offered by its European processing centre to banks in the Raiffeisen network. The challenge was to consolidate all of Raffeisen’s card business onto a single location.

Before selecting WAY4, RBI had had a thorough assessment of all the major card management software vendors. The new future-proof solution which was to replace existing issuing and acquiring systems had to fit into the existing infrastructure, incorporate the business functionalities of the legacy sub-system and comply with all the functional and technical requirements of RBI’s processing centre. At the same time, it had to lower operational costs and increase the overall system performance. WAY4 was the only system that met all the requirements and confirmed its benefits through a preliminary discovery phase and proof-of-concept procedure.

Wim Pardon, Managing Director of OpenWay EMEA commented, "WAY4 allows RBI to consolidate the products of all the different banks in its group while satisfying the requirements of each bank to be able to adapt its products rapidly to specific and changing market situations. The all-in-one platform allows RBI to cut costs thanks to WAY4’s end-to-end processing which facilitates product and service centralization and streamlining of business processes while managing multi-country and multi-institution processes efficiently."

Over the next five years, the number of cards to be handled by the new WAY4 system is expected to reach 2.5 million, made up of 60 different types across 17 countries, and transaction volumes are expected to reach 250 million.

Raiffeisen Bank International AG (RBI)

Raiffeisen Bank International AG (RBI) regards both Austria, where it is a leading corporate and investment bank, and Central and Eastern Europe (CEE) as its home market. In CEE, RBI operates an extensive network of subsidiary banks, leasing companies and a range of other specialised financial service providers in 17 markets. RBI is the only Austrian bank with a presence in both the world's financial centres and in Asia, the group's further geographical area of focus.

In total, around 60,000 employees service about 14.2 million customers through more than 3,100 business outlets, the great majority of which are located in CEE. RBI is a fully-consolidated subsidiary of Raiffeisen Zentralbank Österreich AG (RZB). RZB indirectly owns around 78.5 per cent of the common stock, the remainder is in free float. RBI's shares are listed on the Vienna Stock Exchange. RZB is the central institution of the Austrian Raiffeisen Banking Group, the country's largest banking group, and serves as the group head office of the entire RZB Group, including RBI.

Network International Launches Market Leading “Network One” Platform in Partnership with OpenWay

Innovative behavioural platform will allow the provision of bespoke payment and card solutions for clients.

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Network International, one of the leading payment solutions providers in the Middle East, announced the launch of “Network One,” an innovative and market leading platform for its clients. Developed in partnership with OpenWay, a recognised leader in the WAY4™ software solutions for issuing and acquiring, payment processing, remote banking service and financial transaction routing, Network International’s new platform will be the first of its kind in the region.

Network One is based on a framework that allows innovative products to be created by monitoring the behaviour and attributes of a payment. It will also fully support the implementation of value-added services such as loyalty programmes, mobile payments, loans and fraud management.

Commenting on the launch, Bhairav Trivedi, CEO of Network International, stated: “Network International’s success is based on working closely with our customers and partners. The introduction of Network One is a strong example of this principle, and it will be important to our continuing to be at the forefront of technological and product development within our market.”

Network One will also play an important role in the further development of the Mercury system, which was launched by Network International in April 2013. The Mercury platform is the first ever UAE-focused closed loop prepaid programme, through which Network International plans to offer UAE residents a wide range of cost-effective and value-added domestic prepaid payment alternatives. The Mercury platform will also enable the acceptance of these cards at all Network International POS terminals and ATM’s of participating member banks across the UAE.

Following the launch of the Mercury platform, Network International also recently announced a global partnership with Discover Financial Services to provide international acceptance for its future provision of credit and debit cards. The strategic alliance will allow the acceptance of Mercury Network Cards on Discover, Diners Club International and PULSE networks for international purchases and cash access outside of the UAE.

Hans Van Buylaere, Managing Director OpenWay Middle East, commented: “This project proves that WAY4 solutions by OpenWay are reliable and ready to meet new market requirements. In the Middle East market, where cards and bespoke payments are developing rapidly, we are ready to implement our best practices and share our experience in this special partnership.”

Mr Trivedi continued: “The new platform will allow Network International to develop solutions for our clients in a manner not available to our competitors and peers in the region. Through the greater understanding of customer behaviour in payment and card use, our clients will be able to develop propositions, which exactly match the requirements of their customers. We are fortunate to have been able to partner with OpenWay on this platform, as it is acknowledged as one of the leading providers of software solutions in this market and its expertise will be invaluable in our development of Network One.”

As part of the partnership agreement with OpenWay, Network International will also be the strategic partner of OpenWay’s licensed solutions within the Middle East, African and South Asian markets. This is consistent with the company’s recent strategic initiatives which are designed to broaden its geographical footprint within its core service market.

Network International

Established in 1994, Network International LLC is the largest acquirer in the UAE, and a leading payment solutions provider in the Middle East and Africa region (MEA), servicing more than 70,000 merchants and 200 financial institutions across 55 countries. The company’s service offering comprises a comprehensive range of payment products and services for both the Issuing and Acquiring segments of banks, financial institutions and retail merchants including end-to-end consultancy ranging from planning and designing to developing of new card and consumer finance products and services. In addition, the company offers several value-add products including data analytics, scoring and loyalty solutions. Network International has Operation centers in the UAE, Egypt, Jordan, South Africa and India, with its corporate head office in Dubai. The company recently acquired Emerging Markets Payments Holdings Limited (EMPH) and continues to invest in strategic partnerships that will increasingly see its influence spread across the region.

As the first independent vendor certified by both Visa & MasterCard for card payments in the Middle East, Network International is a Principal Member of Visa International and MasterCard International in the UAE and enjoys extension of its MasterCard License in other key countries. It is also a member of JCB and Union Pay card schemes, and it owns and manages the Diners Club International Franchise in the UAE, Egypt, Lebanon and Jordan. The company also launched a GCC-based domestic scheme, Mercury, and partnered with Discover Financial Services (DFS) to allow global acceptance of Mercury cards on the Discover, Diners Club International and PULSE networks. Network International is a Payment Card Industry Data Security Standard (PCI DSS) certified company.

Leading European processor migrates to WAY4

Nets, a leading European card service provider, has migrated its issuing business to OpenWay’s WAY4 payment processing system. Data migration is complete, and operation of the first bank in the project has already been launched. With the issuing volumes of 2.5 million cards, Nets is among the ten largest payment processors in Europe, and hopes to climb even higher with the help of the new infrastructure.

Having already proven its strong positions in Europe, WAY4 was Nets’ preferred choice when the processor decided to migrate from their enterprise system. 

“We selected WAY4 in order to promote further development of our payment card issuing services. At the same time, it was necessary to ensure seamless integration of WAY4 with the systems of banks, our clients. An additional challenge was the need to migrate roughly 2 million existing cards in a way that is unnoticeable to the end-user,” says Senior Vice President, Mikko Pilkama, responsible for Nets´ Issuing Services.

Mikko Pilkama continues: ”It was essential for us to be able to find a proven state of the art platform for our issuing business continuum. Moreover, for a payment processor like Nets, growth of the processing volumes depends on us supporting our banking customers to increase their revenues. For this reason we chose WAY4 platform and OpenWay as our partner.”

“In our line of work, a key to success is cooperation between the client and the vendor, i.e. team play,” says Wim Pardon, Managing Director of OpenWay EMEA. “It allows us to create/build a united and well-coordinated project team and it provides us with a reliable basis for further collaborations. Having started with migration of one bank, and with many more to follow, we are very happy with our partnership with Nets, which allows us to quickly implement joint projects to the highest standards and to help our clients grow.”

Nets

Nets is a leading provider of digital payment services and related technology solutions across the Nordic region. Nets sits at the centre of the digital payments ecosystem and operates a deeply entrenched network, which connects merchants, corporate customers, financial institutions and consumers enabling them to make and receive payments as well as, increasingly, utilise value-added services to help them improve their respective activities.