OpenWay – Way4
Founded: 1995
Ownership: Privately owned
Number of staff: 350
Number of clients: 100+
Principal partners: A range of card, software, hardware and local service partners
Payments products: Way4 Switch, Way4 Card & Merchant Management, Way4 Channel Banking, Way4 Behaviour Loyalty, Way4 Consumer Loans, Way4 Commercial Cards, Way4 EMV In-Branch Instant Issuing, Way4 Smart Card Perso, Way4 DCC
Categories: Card management (debit, credit, prepaid, commercial), retail payments processing, retailer services, risk and fraud management
Overview
Set up in 1995 by Belgian and Russian founders, OpenWay has Way4, a payment processing suite for banks, processors and telcos. OpenWay is based in Belgium, with regional offices in Asia, Europe and the Middle East. R&D is mostly in St Petersburg, with some development as well in Moscow, Cyprus and Belgium. The vendor currently claims 108 implementations in Central and Eastern Europe, Western Europe, Africa, Asia and the Middle East, plus one customer in the US. The company remains privately owned.
Strengths
Longevity – Established in 1995 and still focused on card management• and related areas
• Breadth – A relatively broad suite, based on open platform
• User base – Has moved from its original Russia/CIS stronghold to a much more international customer base
• Resources – Relatively large resources and reduced overheads through development in Russia
Weaknesses
Profile –Not well-known and marketing is not a strength, although recognition by Gartner in the last few years has helped from this perspective
• Geographical gaps – Minimal penetration in the US, no inroads to date in Latin America
Summary History
• 1995 – OpenWay established
• 2001 – Belgium-based Banksys and Bank Card Company sign for Way4
• 2007 – A first US customer is gained, Comdata, for managing payroll cards
• 2008 – Halyk Bank in Kazakhstan kicks off a first mobile Visa P2P transfer project using Way4
2008 – Equens signs with OpenWay for Way4• Merchant Management
• 2009 – Equity Bank in Kenya selects Way4 to issue and acquire EMV cards and to acquire M-PESA account holders
• 2010 – Way4 selected by two Portuguese processors
The Product Suite
Built on an Oracle platform, using high-end Unix clusters, Java, C, and XML technologies, Way4 is described as 'a customercentric rule-driven environment for debit, credit, prepaid and commercial cards, deposits, loans, current accounts, mobile money and other financial products, for targeted marketing campaigns and personalised self-service via ATMs, kiosks, POS terminals,
web, mobile banking and other channels'.As well as Unix, there is also a Linux option. The supplier claims around 40 modules but with a common technical base and single version.
The company claims it ensures 24x7 processing and will scale to high-end systems supporting 3000 transactions per second (TPS). In mid-2009, it was announced that benchmark tests completed at Sun Microsystems' solution centre in the UK showed Way4 handling 60 million cards in its database while processing 1170 authorisations per second on an open platform.
Earlier the same year, volume testing at the processing centre of long-standing customer, the Savings Bank of Russia, Sberbank, on an HP platform also confirmed the solution could handle a database of 60 million credit, debit and charge cards. The bank also announced in the same year that it had issued 40 million cards on the Way4 platform. In 2010, OpenWay claimed Way4 was successfully benchmarked for 150 million cards.
Way4 enables complex request exchanges in various dialects including ISO8583, DDC and XML/IFX. This way, clients can access products and services from various back office and billing systems through ATM, POS, kiosk, web, IVR and mobile banking, as well as payment schemes and other channels. It is suggested a simple set-up of business rules permits Way4 to manage multiple currencies, languages, and time-zones. The solution is touted as SEPA and Shari'ah compliant and certified by MasterCard, Visa, American Express, Diners Club, JCB, CUP and PCI SSC (PA-DSS compliance).The latter was gained in 2009, with the company claiming Way4 as the first card and merchant management solution to be certified for PA-DSS (Payment Application Data Security Standards).
OpenWay joined PCI SSC as a 'participating organisation' the previous year.
Way4 solutions offered are detailed below.
Way4 Card and Merchant Management – Key areas cited are:
• Issuing and acquiring
• Personalised channels accessible 24x7 online
• Customer-centric products and services
• Online application processing based on workflow and integration facilities
• EMV card instant issuing
• Rule-based pricing and accounting
• Integrated loyalty programmes and online customer behaviour analysis
• Real-time risk management and fraud prevention
• Multiple financial institution management for multi-branch banks and MSP/TPP
• SEPA-compliance
Way4 Channel Banking – The key components of this comprise:
• Centralised channel management: web and mobile banking, ATMs, kiosks, IVR
• Universal platform to integrate multiple systems
• Single customer product and payment profile on all channels
• Online customer base segmentation
• Targeted advertising, sales and cross-sales
• Single authentication and risk management centre
Way4 Behaviour Loyalty – This solution is intended to enable the design and management of diverse loyalty programmes on both magnetic stripe and EMV smart cards. Analysing the behaviour of both cardholders and merchants, this is intended to facilitate targeted and effective loyalty programmes as well as enable banks and retailers to increase customer retention and profitability.
Way4 Consumer Loans – This is designed to enable the creation of individual loan products through flexible pricing and accounting rules, as well as management of credit and fraud risks.
Way4 Commercial Cards – This is an integrated purchasing, travel and entertainment, and fleet solution. Parameter-based, it is designed to enable different types of corporate customers to control their own spending limits, merchant selections and authorisation scenarios.
Benefits of the system include:
Issuing and acquiring
• Authorisation, billing and reporting rules
• Hierarchies for authorisation, billing and reporting
• High volume solution on open platform
• Certified by MasterCard and Visa
Way4 EMV In-Branch Instant Issuing – This solution enables banks to issue EMV smart cards remotely in branches.
Way4 Smart Card Perso – This is intended to allow banks, processing companies and third party personalisation bureaux to manage data preparation and personalisation for magnetic stripe and EMV smart cards of all principal types. This can be implemented on various hardware platforms.
Way4 DCC – This solution is designed to enable users to benefit from dynamic currency conversion services. It is intended to provide cardholders with transparent debited amount information, merchants with a higher service level and acquirers with a higher conversion profit.
Founded: 1995
Ownership: Privately owned
Number of staff: 350
Number of clients: 100+
Principal partners: A range of card, software, hardware and local service partners
Payments products: Way4 Switch, Way4 Card & Merchant Management, Way4 Channel Banking, Way4 Behaviour Loyalty, Way4 Consumer Loans, Way4 Commercial Cards, Way4 EMV In-Branch Instant Issuing, Way4 Smart Card Perso, Way4 DCC
Categories: Card management (debit, credit, prepaid, commercial), retail payments processing, retailer services, risk and fraud management
Overview
Set up in 1995 by Belgian and Russian founders, OpenWay has Way4, a payment processing suite for banks, processors and telcos. OpenWay is based in Belgium, with regional offices in Asia, Europe and the Middle East. R&D is mostly in St Petersburg, with some development as well in Moscow, Cyprus and Belgium. The vendor currently claims 108 implementations in Central and Eastern Europe, Western Europe, Africa, Asia and the Middle East, plus one customer in the US. The company remains privately owned.
Strengths
Longevity – Established in 1995 and still focused on card management• and related areas
• Breadth – A relatively broad suite, based on open platform
• User base – Has moved from its original Russia/CIS stronghold to a much more international customer base
• Resources – Relatively large resources and reduced overheads through development in Russia
Weaknesses
Profile –Not well-known and marketing is not a strength, although recognition by Gartner in the last few years has helped from this perspective
• Geographical gaps – Minimal penetration in the US, no inroads to date in Latin America
Summary History
• 1995 – OpenWay established
• 2001 – Belgium-based Banksys and Bank Card Company sign for Way4
• 2007 – A first US customer is gained, Comdata, for managing payroll cards
• 2008 – Halyk Bank in Kazakhstan kicks off a first mobile Visa P2P transfer project using Way4
2008 – Equens signs with OpenWay for Way4• Merchant Management
• 2009 – Equity Bank in Kenya selects Way4 to issue and acquire EMV cards and to acquire M-PESA account holders
• 2010 – Way4 selected by two Portuguese processors
The Product Suite
Built on an Oracle platform, using high-end Unix clusters, Java, C, and XML technologies, Way4 is described as 'a customercentric rule-driven environment for debit, credit, prepaid and commercial cards, deposits, loans, current accounts, mobile money and other financial products, for targeted marketing campaigns and personalised self-service via ATMs, kiosks, POS terminals,
web, mobile banking and other channels'.As well as Unix, there is also a Linux option. The supplier claims around 40 modules but with a common technical base and single version.
The company claims it ensures 24x7 processing and will scale to high-end systems supporting 3000 transactions per second (TPS). In mid-2009, it was announced that benchmark tests completed at Sun Microsystems' solution centre in the UK showed Way4 handling 60 million cards in its database while processing 1170 authorisations per second on an open platform.
Earlier the same year, volume testing at the processing centre of long-standing customer, the Savings Bank of Russia, Sberbank, on an HP platform also confirmed the solution could handle a database of 60 million credit, debit and charge cards. The bank also announced in the same year that it had issued 40 million cards on the Way4 platform. In 2010, OpenWay claimed Way4 was successfully benchmarked for 150 million cards.
Way4 enables complex request exchanges in various dialects including ISO8583, DDC and XML/IFX. This way, clients can access products and services from various back office and billing systems through ATM, POS, kiosk, web, IVR and mobile banking, as well as payment schemes and other channels. It is suggested a simple set-up of business rules permits Way4 to manage multiple currencies, languages, and time-zones. The solution is touted as SEPA and Shari'ah compliant and certified by MasterCard, Visa, American Express, Diners Club, JCB, CUP and PCI SSC (PA-DSS compliance).The latter was gained in 2009, with the company claiming Way4 as the first card and merchant management solution to be certified for PA-DSS (Payment Application Data Security Standards).
OpenWay joined PCI SSC as a 'participating organisation' the previous year.
Way4 solutions offered are detailed below.
Way4 Card and Merchant Management – Key areas cited are:
• Issuing and acquiring
• Personalised channels accessible 24x7 online
• Customer-centric products and services
• Online application processing based on workflow and integration facilities
• EMV card instant issuing
• Rule-based pricing and accounting
• Integrated loyalty programmes and online customer behaviour analysis
• Real-time risk management and fraud prevention
• Multiple financial institution management for multi-branch banks and MSP/TPP
• SEPA-compliance
Way4 Channel Banking – The key components of this comprise:
• Centralised channel management: web and mobile banking, ATMs, kiosks, IVR
• Universal platform to integrate multiple systems
• Single customer product and payment profile on all channels
• Online customer base segmentation
• Targeted advertising, sales and cross-sales
• Single authentication and risk management centre
Way4 Behaviour Loyalty – This solution is intended to enable the design and management of diverse loyalty programmes on both magnetic stripe and EMV smart cards. Analysing the behaviour of both cardholders and merchants, this is intended to facilitate targeted and effective loyalty programmes as well as enable banks and retailers to increase customer retention and profitability.
Way4 Consumer Loans – This is designed to enable the creation of individual loan products through flexible pricing and accounting rules, as well as management of credit and fraud risks.
Way4 Commercial Cards – This is an integrated purchasing, travel and entertainment, and fleet solution. Parameter-based, it is designed to enable different types of corporate customers to control their own spending limits, merchant selections and authorisation scenarios.
Benefits of the system include:
Issuing and acquiring
• Authorisation, billing and reporting rules
• Hierarchies for authorisation, billing and reporting
• High volume solution on open platform
• Certified by MasterCard and Visa
Way4 EMV In-Branch Instant Issuing – This solution enables banks to issue EMV smart cards remotely in branches.
Way4 Smart Card Perso – This is intended to allow banks, processing companies and third party personalisation bureaux to manage data preparation and personalisation for magnetic stripe and EMV smart cards of all principal types. This can be implemented on various hardware platforms.
Way4 DCC – This solution is designed to enable users to benefit from dynamic currency conversion services. It is intended to provide cardholders with transparent debited amount information, merchants with a higher service level and acquirers with a higher conversion profit.
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