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MYHSM announces strategic partnership with Compass Plus

By Megha Bhattacharya

September 15, 2020

  • London
  • MYHSM
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Payment Hardware Security Modules (HSM) as a Service provider, MYHSM has announced a partnership with Compass Plus in a bid to enable payment providers to deploy cloud-based infrastructure as well as offer flexible project implementation.

The partnership is expected to offer customers with a customisable platform of products and services to build a compelling USP with a subscription model for fully managed Payment HSMs. The model can either be implemented for organisations running payment solutions in-house or in a Cloud service environment such as AWS, Azure or Google.

John Cragg, CEO at MYHSM, commented, “Payment HSMs are an essential asset in securing the payments system, but they are expensive and complex to own and operate. It’s a huge cost burden that both fintech start-ups and banks want to avoid, and that is why we are seeing a growing demand for flexible Cloud-based services. It is key for MYHSM to work with strategic partnerships to change the way the industry consumes HSMs and deliver the benefits of a Cloud payments strategy. It is great to work with Compass Plus a forward-thinking, dynamic company that puts innovation and the customer at the centre of their focus.”

Compass Plus offers a cloud-native, open development payments platform TranzAxis. TranzAxis architecture supports a variety of deployment models across all products, aiming to deliver flexibility to its customers at any given time.

MYHSM is a PCI PIN compliant service providing active-active “5 nines” availability using Thales payShield 10K HSMs in multiple data centres as an alternative to operating your own estate of Payment HSMs with your own staff.

“Unlike traditional payments platforms, TranzAxis is not just cloud-enabled, it is cloud-native, with a variety of built-in features and functions that are readily accessible at the click of a button,” commented Maria Nottingham, EVP at Compass Plus. “We have been successfully enabling cloud deployments since 2014 and truly understand the benefits a cloud-based infrastructure can bring. Partnering with companies like MYHSM, who fully embrace the latest technological advancements, is a natural and logical extension of our cloud deployment offering, enabling our customers to take full advantage of everything cloud-based infrastructures are able to deliver.”

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