Paymentology launches global credit card processing solution

By Megha Bhattacharya

UK-based payments processor Paymentology recently announced the launch of its new global credit card processing solution under the branding of Credit.Works. The FinTech’s approach is expected to boost Credit.Works’ capabilities and enable it to provide flexible interest rate controls, inbuilt loyalty capability, and customer data visibility to integrating banks.

CEO of Paymentology, Shane O’Hara, commented on the launch, “The Paymentology platform has established itself as the processing platform of choice for those banks looking for a rapid drive in their digitisation journey. Our Credit.Works platform now focuses on credit card providers with a novel, innovative technologies. It enables banks to address global markets with a genuinely market-leading suite of benefits.”

The platform also offers reward programmers with real-time customer data capture at the point of spend. Recently, Paymentology announced that Utility Warehouse (UW) has selected the former for processing cashback card transactions. UW’s customers will be able to benefit from cashback provided by online and high-street retailers that are automatically offset against their monthly utility bills.

‘Increasingly an issue of concern for banks is their fraud management,” adds Shane O’Hara. “Our Credit.Works product takes in our advanced fraud prevention technology recognised to be 30% more efficient than competitors’ solutions, giving banks not only the opportunity to integrate the full-service credit card platform but to do so too with the benefit of highest quality fraud controls.”