OpenWay and Oracle to Redefine Digital Payment Processing in the Cloud
OpenWay, a global leader in payment processing software and a Gold level member of Oracle PartnerNetwork (OPN), is announcing the successful testing of its award-winning digital payments platform WAY4 in Oracle Cloud. Financial institutions can use this solution to drive payment innovations of any scale and to optimize their operating and maintenance costs.
Performance testing proved that WAY4 supports small, mid-size and large payment processing volumes in Oracle Cloud. The solution is highly scalable for a broad range of issuers and acquirers: those managing small startup volumes, right up to issuers handling over 10 million card or wallet accounts, or acquirers managing hundreds of thousands of merchants.
Although payment services can open many opportunities for entering the global market, new players have to overcome significant barriers. They must first invest in secure infrastructure and in an IT team to maintain it. This infrastructure should also be scalable enough to accommodate changing payment processing volumes and allow the launching of new offers.
For some payments players in this situation, running digital payments in the cloud can speed up time-to-market for products and services. This option is especially good for:
A WAY4 installation in Oracle Cloud covers the same payment domains asits on-premises equivalent, including card and account management, merchant acquiring, payment gateway, digital wallets, and transaction switching.
- Companies that prefer to operate their own payment platform without investing in infrastructure ownership in an Infrastructure-as-a-Service (IaaS) model.
- Startups who are still unable to predict processing volumes and who prefer to outsource their technical infrastructure in a Platform-as-a-Service (PaaS) model. For the quickest start possible, they can opt for one of the WAY4 Start cloud solutions with pre-defined products and workflows.
- Companies that plan to extend their on-premises solution with WAY4 instances in the cloud for testing purposes (ad-hoc resources).
George Bordei, ISV/OEM Account Manager, Oracle: “The test results of the award-winning digital payments platform WAY4 in Oracle Cloud expand the partnership that OpenWay and Oracle have. Companies from the payment services industry can use Oracle Cloud for faster GTM, optimize the TCO and lower the significant barriers that a new company faces without dropping the performance and security standard.
Oracle and OpenWay efforts help companies from the payment services industry to be more competitive and answer faster at the challenging and changing demands of the financial industry.”