Flexible configuration and faster processing for multi-currency debit cards linked to CBS

Many banks have customers who travel frequently and need multi-currency cards to receive funds and spend them in different currencies, both online and at physical locations abroad. They are frequent users of convenient, intuitive mobile apps that simplify their travel, and they would appreciate the same experience with their bank card. How to make sure that your customers stay loyal and don’t go searching for a competitor’s payment product? Your company can launch an attractive multi-currency debit product on Way4. It is a bank card that can automatically debit the purchase amount from an account in the currency of the purchase. Accounts can be located either directly in the Way4 processing platform or in the core banking system integrated with Way4 online.

This product is available for banks, fintechs, and processors running the Way4 digital payments software platform. The card can be linked to an unlimited number of accounts in different currencies, and it can route transactions between them using configurable rules. For example, purchases in Japanese yen will be debited from a yen account. If there are insufficient funds in this account, the platform might be configured so that the transaction will draw funds from a euro account with automatic currency conversion at a favorable rate. The bank can even allow customers to configure some of those routing rules themselves, by embedding this option into the bank's mobile application via Rest API.

This functionality is available for both personal and corporate cards. As with all Way4 card products, this one can be enrolled in multiple automated workflows, including customer onboarding, risk management, chargeback, and dispute management.

Provision of the multi-currency debit card can be part of your instant onboarding service for new clients. Since Way4 is a fully online platform, it supports instant creation of a client contract, opening of accounts for the new client, and issuing a physical or tokenized virtual card, which will be immediately available for purchases at home and abroad. Click the button below to explore more advantages offered by Way4 for card issuers.

OpenWay is the only best-in-class provider of digital payment software solutions for card issuing, digital wallets, merchant acquiring, BNPL, transaction switching, tokenization, and fleet payments, and the best cloud payment systems provider as rated by Aite, PayTech and Juniper Research. Top-tier banks and processors, as well as ambitious fintech startups, have chosen OpenWay as their strategic partner. With its unique capabilities in rich functionality, fast-to-market, high availability and better ROI, the Way4 software platform guarantees an unparalleled customer payment experience.