FinTech start-up CLOWD9 secures Visa certification
By Gloria Methri
CLOWD9, the UK-based decentralized payments processing platform, has received certification from Visa as an issuer processor. Leveraging Cloud Connect, Visa’s cloud-based infrastructure, CLOWD9 can offer its processing service to clients worldwide.
As an issuer processor, CLOWD9 acts as the interface between banks, FinTechs, and payment firms to authorize transactions and initiate payments, maintain the record for cardholder data, and provide settlement instructions.
The certification will allow CLOWD9’s clients to access Visa’s payment network which is accepted online and in-store by 80M+ merchants worldwide.
Joe Samuel, VP of Issuer Processing Partnerships, at Visa, said, “We congratulate CLOWD9 on their recent certification, and recognize the importance of leveraging cloud technology in the modern payments landscape. Technology modernization is underway in both payments and financial services, and we understand the importance of meeting the demands of our clients and partners, enabling them to better serve their clients.”
CLOWD9’s decentralized model allows users virtual access to the platform around the world, via ‘instances’ with transactions routed to the nearest cloud instance for reliability. The technology behind CLOWD9 platform has been designed with open APIs that neo-banks and FinTechs can maximize to improve customer experiences.
Suresh Vaghjiani, CEO, CLOWD9, said, “This is a significant milestone for CLOWD9 and a testament to the momentum of the business that, within a month of our formal launch, we have completed this partnership with Visa. In doing so, those clients using CLOWD9’s issuer processing platform will have access to one of the world’s largest payment networks. Visa has been innovative in the way it has embraced cloud technology, something that underpins our own mission as a business – leveraging technology to build global payment networks that are fit for purpose in the modern world.”
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