Paymentology partners with 10x to tap into cloud-native tech
By Gloria Methri
Paymentology has joined forces with core banking platform 10x to provide pre-integrated credit and debit card issuing and processing. The partnership will see Paymentology’s global issuing platform combine with 10x’s cloud-native SaaS bank operating system.
With its core banking platform SuperCore, 10x enables banks to deliver products, services, and customer experiences at speed and reduced cost. Combined with Paymentology’s next-generation technology, the issuing and processing of physical and virtual cards on the Visa and Mastercard networks, will enable banks to deploy cards faster than before.
The partnership allows banks to move from restrictive card batch processing to real-time. It eliminates the hassle of processes in issuer tech stacks and provides a simple view of card clearing, settlement, and chargebacks from the 10x platform.
The pre-integrated capability means that through a single API interface, banks have access to a wide range of card solutions, tokenization, and 3DS out-of-the-box. Financial institutions will also gain access to real-time transaction and clearing data from Paymentology’s FAST feed into 10x’s data architecture in a consistent ISO20022 format.
David Oppenheim, Global Head of Ecosystem Partnerships, Paymentology commented on the announcement, “We are incredibly proud of this partnership. A tremendous amount of effort has gone into creating a unique offering, appropriate for ambitious clients who are systemically important banks in their respective markets. The 10x cards module powered by Paymentology takes advantage of cloud-native technology which meets their diverse needs on one simplified, scalable, and highly secure platform.”
Leigh Pepper, Chief Product Officer, 10x Banking added, “We are delighted to be working with Paymentology to deliver the future of cards on our platform. SuperCore enables 10x clients to take full advantage of the speed, cost, and agility of modern technology to deliver fully integrated, customisable product offerings across savings, lending, and now credit and debit card and local rail payment processing in superfast time.”
IBSi Daily News Analysis
March 01, 2024
Banking Sector and regulatory framework: addressing India’s growing demand for secure lockersRead More
IBSi FinTech Journal
- Most trusted FinTech journal since 1991
- Digital monthly issue
- 60+ pages of research, analysis, interviews, opinions, and rankings
- Global coverage