The power of speed in digital payments innovation

Explore how top banks, processors, and fintechs achieved fast, seamless migration from legacy systems! Now they’re effortlessly launching new payment products in just days, and pioneering new payment business models within months, all powered by the highly configurable, rule-driven Way4 software platform.

Fast innovators are 18 times more disruptive, according to BCG, with swift product launches driving at least 30% more revenue. The achievements of Nexi, SmartPay, Shift4, Tsesnabank, and other OpenWay clients validate this.

Fast migration

Faced with competition, many large financial institutions find that their outdated payment platforms impede progress and give competitors an advantage. And while it may seem risky, companies embark on migration regardless. Leveraging our expertise, top banks, processors, and fintechs seamlessly migrate within months, ensuring uninterrupted service for their customers.  

Tsesnabank, one of Kazakhstan’s top three financial institutions, migrated its entire debit and credit card portfolio from BPC's SmartVista to the Way4 card management platform in a mere 4 months. This strategic move empowered them to accelerate innovations and bolster competitiveness while eliminating redundant processes and streamlining operations. Following the migration, Tsesnabank promptly introduced a range of groundbreaking services.

Nexi, a major European processor, serving over 1,000,000 merchants, needed a single platform to consolidate all of its merchant acquiring portfolios that were outsourced to various processors. Despite pandemic restrictions, migration to Way4 took just 9 months. The migration enabled Nexi to continue differentiating itself as a processing leader, avoid creating redundant legacy environments and significantly reduce costs. This strategic approach ensured sustained high profitability and accelerated time-to-market, profitability and swift implementation across all service points.

Network International, the largest acquirer in the UAE, and a leading payment solutions provider in the Middle East and Africa region,has swiftly and seamlessly migrated a large-scale portfolio of the leading cards issuer, Emirates NBD to Network One based on Way4. This migration has enhanced and accelerated Emirates NBD's ability to create bespoke cutting-edge products for its credit and prepaid card customers based on payment behaviour, giving them a distinct edge over competitors.

Fast launch

In just 4 months Timo and OpenWay launched their award-winning digital banking platform on AWS. Way4 is managing a fully digital card issuing and payment lifecycle and providing external systems with a full set of APIs.

In just 9 months after choosing Way4, a new fintech company SmartPay launched a digital wallet to target the underbanked population in Vietnam. In 3 years of operation, SmartPay has successfully connected a network of 700,000 merchants with 40 million customers

Fast product development

Approximately 95% of product features in Way4 are parameterizable, compared to the 30- 40% offered by competitor systems. This flexibility allows our clients to create and launch new products in a matter of days.

In the Dominican Republic, during a financial assistance program in 2020 benefiting low-income families, our client Banesco handled the issuing of prepaid card for distributing benefits. It took them less than a month from conceiving the project to the actual distribution of over one million cards.

When the National Bank of Oman our client, introduced a reloadable prepaid card for travelers, it promptly set up a system where customers could easily self-register, benefit from favorable foreign exchange rates, and control their daily spending limits.

Thanks to Way4’s flexibility, Equity Bank Kenya was the first in the world to enable interoperability between a payment card network and  M-PESA, a leading digital wallet ecosystem.

OpenWay's experts provide valuable insights that assist banks, processors, or fintech companies in choosing the most effective strategies to accelerate their card business.

Meet our team on 4-6 June at Money 20/20 2024 in Amsterdam!