OpenWay launches Way4 for CaaS providers across the globe
By Gloria Methri
OpenWay has announced that its Way4 Card-as-a-Service enabling platform which recently launched in Europe, is now available to Card-as-a-Service and Wallet-as-a-Service providers around the world.
CaaS players on Way4 can now provide their issuers with any payment product based on cards and wallets: credit, debit, corporate, fleet, installment, prepaid, virtual, loyalty, and gift. Way4 also supports multiple Buy Now, Pay Later options. Along with BNPL, other advantages include card program diversity, carbon footprint trackers, digital card issuance, and push provisioning of cards to wallets.
The solution is powered by a flexible online product and service core with fast time-to-market, real-time processing, and a wide set of data-rich APIs. Moreover, the solution contributes to sustainability and financial inclusion when more services are bundled with cards issued on the Way4 platform.
“By 2030, according to IDC’s recent forecast, 74% of consumer payments will be handled by non-traditional financial service institutions,” said Pavel Gubin, CEO of OpenWay. “To attract digital banks, EMIs, retailers, fleet companies, FinTechs, and other non-traditional issuers, a CaaS provider needs to help them comply with social, environmental, and governmental frameworks specific to their geography. OpenWay supports this agenda by providing multiple innovative services via more than 1,000 APIs. We believe our clients will benefit both from the diversity of their digital payment offers and the ability to give new value on top of payment services.”
The Way4 CaaS and WaaS platforms come equipped with standard product configurations, business requirements, implementation manuals, installation guides, and testing plans. This approach helps CaaS providers onboard new clients faster. One CaaS player using Way4 in the cloud has already attracted multiple neobanks by onboarding them and creating their unique card portfolios in just weeks instead of months.
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