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October 17, 2017

IBM, Dream Payments partner to launch cloud-based payments in US

By Shruti T

Technology giant IBM has teamed up with Toronto-based FinTech company Dream Payments to roll out – Dream Payments Cloud – to US financial institutions and merchants.

Dream Payments Cloud provides secure mobile and digital payment services through the IBM Cloud.

With IBM cloud for VMware solutions, Dream Payments has accelerated its cloud infrastructure, while avoiding the cost and complexity of procuring, provisioning and managing new data centers.

Dream Payments Cloud also provides the level of control financial institutions need to maintain payment card industry certifications in the cloud.

Dream Payments also intends to use IBM managed security services, including IBM QRadar on cloud, in order to detect and take action against cyber-security attacks and network breaches and improve their response to incidents.

Dream Payments CIO Chad Whittaker said: “The combination of IBM’s banking and financial services expertise along with IBM Cloud has allowed Dream Payments to build and scale its cloud infrastructure, right down to bare metal hardware access, to maintain bank grade security, PCI compliance and data sovereignty.”

IBM Canada financial services vice president Frank Attaie added: “Financial service leaders and FinTechs recognize the need for digital reinvention to compete and win in the banking market.

“IBM provides clients the global cloud footprint and unified architecture they need to navigate regulatory and compliance demands while improving the customer experience.”

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