tokenization

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).

Mastercard Payment Transaction Services Launches Tokenization on WAY4

Mastercard Payment Transaction Services S.A. (MPTS), a European processor, rolls out a new digital payment solution that leverages Mastercard Digital Enablement Service (MDES) tokenization for secure payment card provisioning on mobile devices. The solution allows Mastercard Issuers to easily deploy the latest mobile pay schemes including Apple Pay, Android Pay, Samsung Pay as well as to enable mobile payments on wearables. The project has been implemented together with OpenWay, a software provider ranked #1 by Gartner in digital payment solutions.

New solution is already used by banks across Europe and allows their cardholders to pay on the go with use of Apple Pay and Android Pay or card issuer’s mobile wallet – both in-store and online. The speed and EMV-level security of these payments are guaranteed by the use of tokens instead of actual PAN. All Mastercard transactions go through the MDES platform, which manages tokens and converts token to card number and vice versa. WAY4, an OpenWay’s card processing platform used by MPTS for card issuing, supports real-time interface to MDES and manages authorization, clearing and settlement for all tokenized transactions.  

“This new solution allows us to be an innovative processor that enables all our clients to follow the latest trends in the world of digital payments. Together with our vendor OpenWay, we provide a very attractive time to market for such services, which is now key success factor for our clients participating in the process of digitalization”, – comments Marek Sagan, Member of Management Board Mastercard Payment Transaction Services S.A

“Interest in tokenization solutions in banking and e-commerce community is driven by immense growth of mobile commerce. OpenWay has completed more than 10 tokenization projects in Europe and Asia, being the first vendor to launch Apple Pay and Samsung Pay together with banks in a few countries. We believe that the project with MPTS is extremely important and timely for European markets because of high mobile phone penetration, well-developed POS terminals infrastructure, and consumers awareness and high expectation of contactless technology”, – says Maria Vinogradova, Director of Strategy and Market Intelligence, OpenWay. 

About Mastercard Payment Transaction Services S.A.

Established in 2008 Mastercard Payment Transaction Services is a European payment processor. Headquartered in Warsaw Poland, with business teams located in Frankfurt, Munich, Paris, Madrid and Lisbon. The company provides its customers with end-to-end innovative processing solutions and it has experienced very dynamic growth over the past few years. In addition, Mastercard Payment Transaction Services S.A. supports banks, fintechs and retailers in introducing innovative payment products and is heavily oriented on best practices as well as state-of-the-art technologies of the payment industry. The company is a part of the global Mastercard Processing division with over 2,500 employees supporting customers in 70 countries worldwide.

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.

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.

OpenWay and Priorbank (Raiffeisenbank Group) Introduce HCE Technology

Now customers of Priorbank, a leading commercial bank in Belarus and a member of Raiffeisen Bank International group, can use their phones as a universal payment tool. The service supports MasterCard cards and will be expanded to Visa cards later this year. This is the first time Host Card Emulation (HCE) technology for issuing cards in a smartphone has been used in Belarus. The solution was developed on the WAY4 platform by OpenWay, a recognised leader in software for bankcard issuing and acquiring, payment processing, remote banking services and financial transaction routing.

To start using the service, Priorbank customers download a special app to their phones and create mobile version of their bankcard in two clicks. The card in the phone can be used for payment in shops, restaurants and anywhere POS terminals supporting contactless payment technology are installed. Each transaction over 200,000 Belarusian rubles (about $10) is confirmed by PIN. Access to cards in the phone is protected by the app's password. The bank plans to implement the mobile issuing service for both debit and credit cards. 

The WAY4 HCE solution allows issuers to independently issue virtual cards to client mobile phones and store encrypted card data on bank servers. The technology ensures a high level of security for storing financial information according to international standards. The service can be used anyone who has a phone with NFC support, running under Android KitKat 4.4 and higher. 

"With the launch of this project, Belarus joins the ranks of progressive markets with the most innovative technology in the financial sphere. The solution we introduced today is one of the newest in the area of contactless mobile payments, used by the world's leading banks. − notes Sergei Shishov, vice president of the board of Priorbank. – The technology (HCE) we chose to implement in this project offers great opportunities. Consumers get a convenient, fast, and reliable payment tool. We are certain this technology is not only significant for us, but for the market as a whole. Priorbank plans to actively work on implementing and promoting contactless payment technology in Belarus, assist in raising the financial literacy of the population and developing cashless payments in the Republic of Belarus".

In many countries, contactless payment is already helping to solve the problem of lines. It speeds up service in shops and fast food restaurants, on public transportation and at public events. The ability to provide mobile services is becoming another way to attract and retain clients. Mobile tokenisation is becoming one of the main ways to protect card data. 
Despite international technology giants such as Apple Pay, Android Pay, Samsung Pay entering the payments market, processing companies and banks are also interested in developing their own mobile applications for tokenisation and contactless payment. This helps them to maintain their brand and direct contact with clients. The WAY4 HCE solution offers many advantages for issuers, allowing them to expand their line of innovative card products, save on plastic card fulfilment costs, and quickly and securely bring new services to market. Not only does the solution make it possible to issue a mobile version of a client's existing card, virtual prepaid card can also be offered to new customers. These cards can be issued instantly at mobile sales points or during public events as a ticket and means of payment.

"We see our clients are interested in the WAY4 HCE solution and are already implementing several pilot projects in Europe and Central Asia. In the near future, we plan to support international payment system protocols — MDES and VDEP, which will make it possible for banks to provide contactless payments with MasterCard and Visa cards using payment system tokenisation services", - notes Dmitry Dovgal, deputy director of business development at OpenWay. 

The WAY4 HCE solution was developed to be compatible with any processing system. Moreover, OpenWay has created a set of developer tools, WAY4 HCE SDK, so banks can build WAY4 HCE into their own mobile applications (for example, mobile banking apps operating on WAY4 or another platform).

According to National bank data, in Belarus more than 10% of all payment terminals installed support contactless payment.

Priorbank

Priorbank is one of the largest banks in Belarus, and is a member of the Austrian banking group Raiffeisen Bank International AG (RZB). Founded in 1989, the bank has firmly established itself as a market leader in financial innovations. It is one of the founders of the "Belkart" national card system, and is an initiator of the newest developments in the area of cashless payment and remote banking systems in the Belarus banking sphere. The bank was the first to issue Visa and MasterCard plastic cards in Belarus. Priorbank is a multiple winner of the "Bank of the Year" title according to The Banker, Euromoney, and EMEA Finance magazines. Priorbank is the only bank in Belarus with western European capital, offering clients European quality services.

http://www.priorbank.by

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.

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.

Looking for Mobile Customers' Engagement and Monetization?

The WAY4 Mobile Wallet white label software solution helps banks and payment processors to engage their cardholders and merchants with their-branded digital wallets.

You can launch your own digital wallets for online customer enrollment, payments and P2P transfers, e-commerce and NFC payments, marketing, security, and other value-added services. Enjoy the movie and ask us for more details!

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

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.”