wallets

Your Digital Payment Strategy in the Middle East Deserves a Great Platform. Meet us at #SeamlessME2019!

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10-11 April 2019

Seamless Middle East, Dubai International Convention & Exhibition Centre, Sheikh Saeed Hall 2, stand #E60

OpenWay, a top-ranked digital payment software vendor, invites you to visit its stand (#E60) at Seamless Middle East, the biggest event in the region focusing on payments. 

Watch demos of our solutions and gain valuable insights on where the payment world is heading. What kind of technology should be backing up your digital payment strategy? How can you tell if it is agile enough to support future growth?

We present WAY4, an open payment processing platform, that leading financial institutions in the Middle East and across the globe use to run their processing business. 

Come meet our OpenWay experts if:

  • Your company is running an RFI / RFP process for card and merchant management system, transaction switch, e-commerce gateway, or wallet 

  • You are searching for new ways to keep consumers and merchants engaged though targeted products and services delivered on time, with flexible pricing based on transaction context

  • Your want to find solutions to increase revenue streams in card issuing, acquiring, and payment processing. 

We looking forward to seeing you there!

Clik to Launch in Cambodia in 2019

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  • Cambodian startup Clik raised more than $2 million before its 2019 launch

  • Observers say that Clik is a good addition to Cambodia’s fintech scene

  • While Clik is primarily an analytics app, its CEO says that the company respects the privacy of would-be clients  

 A new payments app is about to enter the Cambodian market and it raised over $2 million before its scheduled launch. Clik is poised to launch a new payment gateway and aggregator and many are said to be excited about the event.

The only downside about the report, according to fintech observers in Phnom Penh, is the fact that there is no mention of overseas transfer rates or that users can transfer money internationally through the app.

The good news is, the app will make transferring payments between consumers and businesses more seamless. According to the fintech, Clik users can use the app to pay for goods and all they need to do is to input their credit cards or e-wallets into the app.

“Our app will be very easy to use, much easier than a payment terminal with 25 buttons on it”, explained Clik CEO and founder Matthew Tippetts while talking to Southeast Asia Globe. “The consumer will have a wide array of payment capabilities in one place – simple, seamless and safe to use”, he added.

The company notes that the app is a useful addition to the set of tools that businesses have. Tippetts said that merchants can use the app to grow their business. Clik is described by Tippetts as: “a new data company” driven by analytics. Its main purpose is to “enable offline businesses to have the same data as online businesses so that they can grow”.

According to Clik executives, the app will be aggregating user transactions and will provide merchant partners with basic data analytics. The latter will provide businesses with better insights on marketing techniques. Merchants will have the capability to offer a better and a more personalised experience to their target market as well.

The app attracted the attention of Limestone Technology, an international business headed by SeedIn’s founder Eddie Lee. It also caught the attention of Openway, a software vendor. Investments from these companies, along with money put in by a number of Cambodia’s angel investors, made it possible for Clik to raise over $2 million. The capital was raised long before the business’ scheduled launch. The company is reportedly planning to raise another million by early 2019.

Clik is primarily a data analytics app, but Tippetts made it clear that the company respects the privacy of its would-be clients. He noted that companies like Clik “need to be ethical” when collecting data, adding that he will make sure that the app is compliant with all of the data collection laws in Cambodia.

In an interview, Tippetts said: “We definitely aren’t giving out individuals’ personal data, and we’re not selling or giving any information to third parties.”

Find out more about the payment and remittance industry here.

Source: FXcompared Magazine

Cambodian Fintech Startup Clik Secures Seed Funding From OpenWay

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Cambodian payment startup Clik has announced the closing of a $2-million seed funding round led by global tech firms Limestone Technology and OpenWay and joined by several angel investors from Cambodia’s retail sector.

In an official release, the startup said it is considering raising an additional $1 million to further complement its latest funding round. Founded in 2016 by serial entrepreneurs, Matthew Tippetts, Skye Cornell and Darren Jensen, Clik is a payment gateway and aggregator that aims to provide a safe, seamless and simple payment experience.

Through utilisation of the latest technology, including mPOS, machine learning, and biometrics, Clik’s payment aggregator app facilitates swift payments using their own e-wallet or other platforms.

The company says it will be officially launching its platform in Cambodia in Q2 of 2019 upon receiving its Payment Service Provider license from the National Bank of Cambodia.

By targeting the Cambodian market, Clik will be looking to leverage on internet economy boasting over 7 million internet users and 8.4 million smartphones, which is also seeing a growing electronic payment industry.

According to Clik Co-Founder and Chief Technology Officer Darren Jensen, the proceeds from the seed funding round, which is nearly complete, has been used to drive product development for the beta version and commercial release preparations.

Clik’s funding comes in the same week as a mega-deal announced by Grab, which has paved the way for it to become the first company to launch e-money licensed payments services across six major ASEAN countries. Grab announced yesterday that it raised a $50 million strategic investment from Thailand-based KASIKORNBANK (KBank), which at the same time, marks the entry of its payment arm into the Thai market, having already established operations in Singapore, Malaysia, Indonesia, Vietnam, the Philippines. 

Source: Deal Street Asia

Considering to transform your business through card issuing, merchant acquiring, e-commerce, digital banking, wallet, open banking solutions? See you at Smart Card 2018 in Opatija!

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OpenWay would like to invite you to the Smart Card 2018 event, one of the largest banking innovation and technology conferences in the Balkans, taking place in Opatija, Croatia on September 24-26.

Why would you attend?

  • Get new business model insights by visiting the OpenWay presentation on the topic “Omnichannel payments for new revenue streams: wallet, e-commerce, open banking”

  • Learn about 4 case studies of the digital payment transformation from European and global leaders at the OpenWay workshop on September 24 at 4:30pm

  • Watch demo of the top-ranked WAY4 Wallet, #1-ranked WAY4 CMS (Card Issuing, Merchant Acquiring and Payment Gateway), innovative WAY4 PSD2 Hub and other software solutions at the OpenWay stand

We will be pleased to sit with you and learn more on your needs to enable us to address them in the most efficient way.

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.

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.

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!

Bank and Vendor: Dependency or Partnership?

OpenWay and AK BARS Bank, one of the top 20 banks in Russia and general partner of the 2013 Universiade in Kazan, Russia have recently implemented a number of innovative projects together. The results have been amazing: in a short time, the bank has attained a new level of payment service based on contactless technologies and new delivery channels. The director of “AK BARS” Bank’s processing centre, Artur Khabibrakhmanov, shares the secrets of a successful partnership between bank and vendor.

«AK BARS» Bank is the largest bank in the Republic of Tatarstan, one of the most developed regions of Russia, and it was the leading bank services’ provider during the Universiade 2013 that recently took place in Tatarstan. What innovative products were prepared and how will they fare in the future?

The bank had a complex task to create a payment infrastructure for the Universiade’s participants and guests, and the bank’s team began work on this long before the event itself. In addition to ATMs, payment terminals, transaction kiosks and standard card types, a number of innovative issuing and acquiring products were developed. For example, we developed a number of issuing products based on multiservice cards including both contact and contactless bank products, transportation offers and a loyalty programme, as well as an identification application that served as an entry pass to Universiade sites and a ticket to competitions, all on one physical medium. 

I would say the most interesting product created for the Universiade is a contactless “wallet”, the first to be implemented in Russia. Physically it consists of a Watch2Pay wristwatch and two renewable prepaid MasterCard cards with a limit of up to 15,000 rubles. The first card, with a magnetic stripe, is used to replenish the account, and the second, a chip card, is for the watch; both are linked to the same account. Contactless payment is made with MasterCard PayPass technology at merchants, restaurants and cafes, filling stations and terminals with payment services. We set up several thousand such locations in Kazan and there are several million worldwide. 

The second product is NFC sets that we issue jointly with mobile operators. The set includes a telephone supporting NFC technology and a SIM card linked to a bank card. The linking is done in WAY4 processing system used by “AK BARS”. Payment is made using a mobile phone.

Of course, we also offered guests non-renewable prepaid cards that can be given as gifts. Among these, I’d like to single out the “Guest of Kazan” card. This card for 1 or 2 people could be used to obtain discounts at museums; they also contained a transportation application that guests of our city could use to pay for public transportation. 

Meal cards for volunteers are also noteworthy: 20,000 Universiade volunteers could use them for lunch at “McDonald’s”. This international chain has specific and strict requirements and its own acquirer. Nevertheless, we were able to provide a payment service using the WAY4 platform issuing programme, ensuring compliance with requirements for service time, points of service and meal costs. 

The entire payment infrastructure was built based on the widespread use of contactless technologies. Now, after the Universiade, this infrastructure continues to work for the Bank’s clients and guests of Kazan. Accreditation cards that were part of the accreditation badge at the Universiade can be used as regular bank cards (and retain their multiservice functionality). The majority of almost 200,000 cards issued for the Universiade can be further used by Bank clients, and the same is true for devices installed by the Bank for the Universiade. Our developments will continue to grow (many of them will be put to market in the near future), and of course, we hope to use them in upcoming large events such as the world aquatics championships in 2015 and the FIFA World Cup in 2018.

AK Bars Bank Watch with NFC technology and a SIM card linked to a bank card - special issue for the Universiade in Kazan

AK Bars Bank Watch with NFC technology and a SIM card linked to a bank card - special issue for the Universiade in Kazan

You mentioned WAY4. How long has the Bank been using WAY4? How you build a relationship with the vendor? 

I came to the Bank in 2004, and at that time a processing configuration was implemented in which the OpenWay solution was one of the elements (authorisation and back office), and a different company supplied the front office solution. At that time such a configuration was warranted by limitations on computing capacity and communication channels, which made it possible to separate processes of device management and settlements. But as client demand developed and grew, it became clear that tighter integration between front and back office processing was necessary. Clients were requiring more complex bank products, to obtain account statements and make various payments. This all leads to breakdowns in the business logic between the systems, making it difficult for the bank to work efficiently in creating new products and services. It was decided to move to a single system that would unite everything - both acquiring and issuing - in one core. OpenWay’s WAY4 solution was chosen as this system.

The OpenWay solution supports a large number of transaction types: both those that are made directly through payment systems and those that are not regulated by payment systems, and which are the majority in the Bank’s business. Moreover, OpenWay is tried and true on the Russian market and we often use the experience of other banks when implementing – this guarantees reliability and quality client service. Also, WAY4 is scalable, which is very important to us, as a fast-developing bank. 

How would you assess the technological partnership between the Bank and the vendor? What does its success depend on?

In Russian banks, technology to implement new functionality and offer new products is developing rapidly in order to retain existing clients and attract new ones. This means that OpenWay, like any other successful vendor, is often a trailblazer in innovation and this involves a high workload. In implementing new functionality for the demands of business, OpenWay does not always have the necessary experience, but we also don’t always have this experience in something new either. However, the bank's practice of implementing innovations jointly with the solution vendor in past years has shown that together we can carry out even the most complex projects. Of course, this creates a dependency of the Bank on the vendor. And this dependency is present in our Bank also. 

At the same time, we have quite broad capabilities provided by the solution vendor. For example, we independently created all issuing products for the Universiade, using OpenWay tools. We practically didn’t contact the developer, basic consultation was enough. For example, the WAY4 Product Inspector allowed us to build credit product portfolios on our own.

I think each party should do what it does best: the vendor should create good software, the bank should offer clients services based on these products. This kind of relationship promotes our common business.

How do you see the development of processing as a whole? Until recently, the concept of an Internet or mobile banking didn’t even exist. Do you think “classic” banking on its way out?

It’s true, several years ago, there was only one standard for cards. But now the boundaries of card use are really fuzzy: there are virtual cards, NFC, and watches, for example. It’s easy for a card to simultaneously be a wallet and an ID card and a transportation pass. That said, the core and the platform on which relations between the bank and client are built remain the same. And consequently, the solutions offered by the vendor will continue to work. Processing is being modernized, new products are being created. But, of course, remote channels are coming into their own. People are essentially lazy and if they can stay on the couch, they will. I think that the next popular tendency in remote banking service will be automatic payments. They make it possible to manage but not to trace basic expenses – housing, phone, petrol… This will all be paid automatically and all cardholders have to do is create templates, or have someone do it for them. As far as I can see, the client is interested in remote banking services becoming a system for financial management.

On the topic of processing modernization, you probably mean technological migrations. Have you undergone migrations with your vendor?

The very first and longest migration was to EMV processing. At that time, in addition to modernization of the core and software, we had to replace and modernize the terminal network and this process included certifying the solutions of vendors supplying devices and software for these solutions. 

Next, in preparation for the Universiade, we migrated the ATM controller to WAY4 since we needed to support additional functionality for a significant number of ATMs in Kazan. And now we are completing the migration of the remaining devices and fully going over to the WAY4 single platform. Moreover, together with OpenWay, we are significantly expanding our Web banking capabilities: for all intents and purposes, we’ve built a new one, only taking best practices connected with client preferences from the old one. 

What is the “old” Web banking? 

We used the Web banking of one of the most widespread vendors in Russia and were totally satisfied with it, but we began to find we were missing existing tools that are widely available in OpenWay. We are talking about various additional balances, statement types, work with limiters, templates and much more requiring significant integration expenses if a third-party solution is used, but are easily resolved when using OpenWay Internet banking. On the basis of Web banking, we also plan to develop mobile banking: we will definitely release a client application. 

We’ll be honest: all vendors are interested in the further penetration of their products in the bank. What may be the next step?

I’ve already noted automatic payments, for which there may already be mass demand in the near future. It’s possible that the resources of large integrators may start to be used, which would allow information about client payment requirements to be united in one place. For example, today many payments are processed separately: some companies process utility payments, others, communications services, and possibly, the bank will need an integration pool for a specific client. This will assist both parties: the bank in collecting all the client’s payments and balances and the client, in managing his financial history. Gradually the need to physically come to the bank will disappear, but the financial institution will remain in the life of the client. 

One way or another, the majority of consumer activity is connected with money – planning vacation, purchases, payments and more. And in the battle for the client, the bank that can perceptibly save not only the client's money but time, will win. 

In conclusion:

When I’m asked what the card business should expect in the future, the communication service business comes to mind. The first time I came to a telephone exchange, there were all sorts of wires going from the exchange in different directions, telecommunications racks taking up entire buildings. Not much time has passed, but there is no longer any need for these huge buildings: the exchanges themselves use relatively small facilities and communications providers offer clients more than just voice communication services. 

The card business is similar – it’s not only a service for withdrawing cash at ATMs but also a myriad of other financial services based on remote channels. And, possibly, the big buildings occupied by banks today won’t be needed any more, and a client going into a bank office of the future won’t see any people there: remote services offered by the banks will be sufficient.

AzeriCard and OpenWay Transformed Mobile Banking into Mobile Wallet

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

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

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

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

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

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

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

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

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

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

About Azericard

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

OpenWay Announces the Arrival of WAY4 Wallet

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

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

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

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

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

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

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

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

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

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

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

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

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

Equity Bank

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

 

M-PESA

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

 

OpenWay’s WAY4 Processes AIS Mobile Top-up Transactions

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

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

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

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

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

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

What is WAY4™ Mobile Top-up?

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

Advanced Info Services Plc. Thailand (AIS)

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