Digital payment software provider OpenWay has partnered with Visa to help financial institutions in Asia Pacific streamline the rollout of selected payment capabilities.
In a statement, OpenWay said the collaboration aims to help banks bring new payment propositions to market “more efficiently”.
Go deeper with GlobalData
Access deeper industry intelligence
Experience unmatched clarity with a single platform that combines unique data, AI, and human expertise.
The company said the work will focus on supporting faster launches while addressing integration requirements and operational considerations.
Under the collaboration, banks, processors and fintechs will be able to deploy selected Visa payment capabilities on OpenWay’s Way4 digital payments software platform.
OpenWay said earlier alignment on Visa product requirements and implementation frameworks is intended to simplify implementation and improve readiness for future deployments across Asia Pacific and other markets.
Way4 supports card issuing, digital wallets, merchant acquiring and real-time payments on a single platform. The software is used by banks, processors and fintechs, and can be deployed on premises, in the cloud, as dedicated SaaS, or through hybrid models.
The collaboration builds on Visa initiatives already supported on Way4, including Visa Flexible Credential, which allows cardholders to access multiple funding sources through one credential, and Visa Fleet 2.0, which supports fleet-related payment use cases.
OpenWay Asia managing director Rudy Gunawan said: “Asia Pacific continues to lead global payment innovation, and banks are looking for ways to deliver new customer propositions faster and more efficiently.
“Our collaboration with Visa strengthens our ability to support financial institutions with faster implementation of new payment capabilities on Way4.”
Last year, OpenWay expanded into Francophone Africa through a long-term technology alliance with a Moroccan tier-1 bank.
