CLOWD9, the World’s First Cloud Native, Decentralized, Issuer Processing Platform, Chooses Utimaco’s MYHSM Payment HSM-as-a-Service

Cloud
09.11.2022 10:50 am

Utimaco, a leading global provider of IT security solutions, announces that it has been selected by CLOWD9 as a service provider for a cloud-based Payment Hardware Security Module (HSM). CLOWD9 launched in October as the world’s first cloud-native, decentralized payments processing platform.

Fintechs, processors and banks alike have a lot of choice today when it comes to deploying their payment applications in the cloud. But there’s a problem when it comes to the mission-critical Payment HSMs, as none of the public Cloud Service Providers on the market today can support them directly. However, Utimaco’s MYHSM Payment HSM-as-a-Service complements a full cloud adoption strategy like that of CLOWD9, with 99.999% availability as standard, and very low latency regardless of where it is deployed around the world.

Payment HSM-as-a-Service significantly reduces cost, complexity, time to market but also provides access to deep expertise in Payment HSMs & payments-related cryptography that is an increasingly rare but essential resource for any company operating in the payments space. Additionally, Utimaco’s MYHSM Payment HSM-as-a-Service takes away all of the heavy lifting to meet PCI compliance by providing immediate access to a fully PCI-PIN and PCI-DSS certified service.

CLOWD9’s platform has been designed to be the most efficient and data-rich processor enabling real-time payments around the world, across all payment methods be it traditional card, bank transfers, QR codes, biometrics or Crypto. The business has an extensive team of seasoned payments experts and cloud engineers. This expertise has helped the team to build a truly global, modern solution for the industry – in an area which has lacked innovation - that deconstructs complex legacy payment ecosystems, while rethinking and redesigning them in the cloud.

Darren Busby, Global Head of Sales MYHSM, at Utimaco, commented: “I am delighted with this partnership between Utimaco and CLOWD9. With our MYHSM solution, we are pioneers as a Payment HSM-as-a-Service provider globally and a true business enabler, helping leading-edge companies like CLOWD9 bring their ideas to market. Under the visionary leadership of Suresh Vaghjiani, together with the world-class team of people that support him, CLOWD9 is extremely well positioned to disrupt the industry and offer a truly unique set of products and services, with Utimaco supporting that as an integral component."

Suresh Vaghjiani, CEO at CLOWD9, added: " We’ve worked incredibly hard and assembled the very best expertise to build a new generation processing platform to better serve the banking and fintech industry. With the support of Utimaco’s MYHSM Payment HSM-as-a-Service, we are well placed to push the envelope on payments processing in the cloud and are pleased to have found an equally future-led partner.”