Paymentology, a global issuer-processor, today announces it is the first issuer processor in Europe to secure Visa Cloud Connect (VCC) certification from Visa, a digital payments provider.
Paymentology claims that it is “at the forefront of innovation in the fintech and banking sector, providing a next-generation payments platform and multi-cloud network to process any type of cards as a preferred issuer processor of Visa.”
Aligned to its cloud-first strategy, it is now the first issuer processor in Europe “to achieve Visa Cloud Connect for its next-generation payments platform, enabling it to better serve its fintech, banking and telco clients by connecting to the global VCC network.”
In today’s digital landscape, fintechs, banks, and telcos strive “to expand globally and operate across borders.”
However, they often encounter obstacles “such as the costs associated with local data centers, implementing specialized hardware, compliance with regional standards, and coordination with local partners.” These challenges can slow down service deployment and “hinder customer adoption.”
The Paymentology and Visa Cloud Connect collaboration “directly tackles challenges. Paymentology’s next generation platform securely connects to VisaNet via cloud-based infrastructure, offering a full suite of Visa products, eliminating data center costs, streamlining transactions, and ensuring data security and high performance.”
This enhances security, accelerates service rollout, “reduces delays in customer adoption, and ultimately delivers a more reliable, scalable, and secure platform.”
As part of Paymentology’s cloud-first initiative, it will “have VCC end point active zones across Europe to ensure ultimate uptime for its clients while more markets will be deployed as part of the ambitious collaborative roadmap.”
Merusha Naidu, Global Head of Partnerships at Paymentology commented:
“We have a long-standing relationship with Visa, and we are delighted to fortify our cloud-first strategy by achieving Visa Cloud Connect certification. As the first issuer processor in Europe to have our infrastructure purely in the cloud, this move not only exemplifies our commitment to innovation but also establishes our platform as the epitome of flexibility, scalability, and security for our clients. Europe marks the first step in our global rollout plan. We are poised to connect all regions to VCC in record time.”
Joe Samuel, Vice President, Head of Issuer Enablers, Europe, Visa, added:
“Expanding access to financial tools and services is core to Visa’s purpose – uplifting everyone everywhere. Partners that connect to our global Visa Cloud Connect network unlock a wealth of product solutions for their clients and so we’re excited to continue our longstanding partnership with Paymentology.”
Going forward, the collaboration between Visa and Paymentology intends to replicate its cloud-first commitment to unlocking payments on a global scale, targeting Paymentology’s key markets across APAC, Latam, Africa, and MENA.