BRUSSELS, Nov. 28, 2022 /PRNewswire/ — OpenWay proudly announces that its Way4 Card-as-a-Service enabling platform, recently launched in Europe and already recognized as one of the top CaaS technology solutions on the market, is now available to Card-as-a-Service and Wallet-as-a-Service providers all over the world.
The solution is based on the award-winning Way4 digital payment platform. It is designed for CaaS providers who prioritize a superb digital-first customer payment experience, and is powered by a flexible online product and service core with fast time-to-market, real-time processing, and a wide set of data-rich APIs.
Moreover, the solution contributes to sustainability and financial inclusion when more services are bundled with cards issued on the Way4 platform. Among the services already launched are carbon footprint trackers for each cardholder, card-based distribution of social aid to financially vulnerable populations, financial inclusion for unbanked population via cards and wallets, no-plastic digital-only cards via mobile apps, eco-friendly paperless ATM receipts, and more.
“By 2030, according to IDC’s recent forecast, 74% of consumer payments will be handled by non-traditional financial service institutions,” says Pavel Gubin, CEO of OpenWay. “To attract digital banks, EMIs, retailers, fleet companies, fintechs and other non-traditional issuers, a CaaS provider needs to help them comply with social, environmental, and governmental frameworks specific to their geography. OpenWay supports this agenda by providing multiple innovative services via more than 1,000 APIs. We believe our clients will benefit both from the diversity of their digital payment offers and the ability to give new value on top of payment services.”
CaaS players on Way4 can provide their issuers with any type of payment product based on cards and wallets: credit, debit, corporate, fleet, installment, prepaid, virtual, loyalty, and gift. Way4 also supports multiple Buy Now, Pay Later scenarios. Along with BNPL, important competitive advantages are also card program diversity, carbon footprint trackers, digital card issuance, and push provisioning of cards to wallets.
The Way4 CaaS and WaaS platform comes equipped with standard product configurations, business requirements, implementation manuals, installation guides, and testing plans. This approach helps CaaS providers onboard new clients faster. One CaaS player using Way4 in the cloud has already attracted multiple neobanks by onboarding them and creating their unique card portfolios in just weeks instead of months.
About OpenWay
OpenWay (www.openwaygroup.com) is the top-ranked global payment software developer of the Way4 digital payments software platform. We help our clients – top financial and non-financial organizations in 83 countries – to make payments more convenient and efficient for people around the globe. Over 500 payment players worldwide run their digital payments businesses on Way4. With multiple centers of competence in Europe, Americas, the Middle East, Asia, and Africa, our team has extensive and holistic understanding of cultures and skills. The very diverse context of our business implies continuous evolution and innovation.
SOURCE OpenWay
