SETIB (France Telecom Group) selects the WAY4 Solution from OpenWay to launch a multi-currency acquiring platform
In order to meet its strategic goals, SETIB, a member of the France Telecom Group, sought a new state-of-the-art comprehensive financial transaction processing platform to extend its electronic payment services. After detailed analysis of available solutions, SETIB selected the WAY4 solution, developed by OpenWay.
May 30, 2005 - Paris, France and Brussels, Belgium
May 30th, 2005 - Paris, France and Brussels, Belgium - SETIB, a member of the France Telecom Group, the leading French telco operator, is using the WAY4 platform to strengthen its position as a provider of processing services to the financial world, both in France and abroad. The first new service currently being rolled out concerns multi-currency acquisition.
SETIB’s approach is to “think big, start small, and scale quickly”. OpenWay’s modular solution and technical and functional expertise responded to this challenge. One of SETIB’s major customers had requirements for a quick time to market. Quoting Fergal Golding, business development manager, SETIB, ‘Partnership with OpenWay allowed SETIB to achieve both time to technology and time to market with one company.’
The multi-currency acquisition service being rolled out makes use of a subset of the WAY4 platform’s potential, including such modules as Merchant Management, Clearing & Settlement with card networks, Dispute Management, and Web Banking.
SETIB’s clients can build value-added payment and transaction processing services on top of the WAY4 platform, hosted in SETIB’s 24x7 Data Center.
Wim Pardon, OpenWay’s Director, Business Development, in EMEA region, said, ‘The flexibility and reliability of WAY4 solutions and the high quality of the system support services have been already acknowledged by many banks and processing companies in Europe and the CIS. Today, our customers include financial institutions and telecommunication companies operating on three continents. Our cooperation with technology leaders assures our place at the top of the latest technologies. We are proud that SETIB has selected our WAY4 solution, which will certainly help SETIB to introduce new value-added services.
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.
SETIB is a member of the France Telecom Group, headquartered in Paris, with data processing facilities in Epinal (Eastern France). SETIB specializes in Electronic Payment Services, covering e-commerce, PKI, electronic invoicing, and cash management systems. SETIB operates multiple financial transaction processing applications including the e-Carte Bleue and Virtualis services for major French banks. SETIB is a recognized specialist in the payment security field, performing security risk assessment and audits.
Through this cooperation with OpenWay, SETIB will extend its service offering in both France and Europe.