OpenWay, Gemalto integrate for multichannel payment security
Digital payment processing software provider OpenWay has integrated its platform with a Gemalto hardware security module to make it easier for clients to migrate to multichannel payment services.
OpenWay's WAY4 platform is an open, omnichannel digital payment and card processing system that supports digital wallets, private label and branded-card issuing, merchant acquiring, financial switching and channel management.
Gemalto's SafeNet Payment HSM manages the entire cryptographic process from card enrollment to provisioning, to tokenization and transaction processing. The HSM ensures security of payment processing for credit and debit cards, e-wallets, online and mobile applications.
The companies see the integration of the two as a boost for security on a fast-growing mobile and digital payment landscape.
"Seamless security of transactions is on top of mind for our customers," Dimitry Yatskaer, chief technology officer at Belgium-based OpenWay, said in a Wednesday press release. "For many years, OpenWay has been relying on the skills and expertise of Gemalto's payment security team, and now we've extended the range of compatible HSM devices."
OpenWay says its platform is used by top banks and payment processors worldwide, and is the first to support OEM wallets, payment schemes, tokenization and the 3-D Secure 2.0 protocol.
"As growth of digital payments, specifically mobile payments, continues to accelerate, solutions that provide security, flexibility and cost savings will be in high demand," Todd Moore, senior vice president of encryption products at Amsterdam-based Gemalto, said in the release.
The arrangement with OpenWay will provide platform users the "scalability and flexibility they require when operating in the fast-moving digital payments market," Moore added.
Gemalto has advanced its multichannel security offerings in the past two years after registering profitable years during the EMV migration in the U.S. and other countries, in which it provided EMV chips.
The company rejected an unsolicited $5 billion acquisition offer from French IT company Atos in late 2017, saying it was best positioned to grow with the changing payments landscape as a standalone company.