digital wallet

OpenWay Becomes A Leader in Digital Wallets

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OpenWay Recognised as Market Leader for White-Label Mobile Wallet Solutions

The WAY4 Mobile Wallet solution from OpenWay, an expert in digital payments and developer of the top-ranked WAY4 digital payment and card processing platform, has been judged a ‘market leader’ in a recent Ovum Decision Matrix report. The report evaluated the technology, execution capabilities and market impact of seven short-listed white-label vendor solutions, across various sub-criteria. It found that the OpenWay solution had established a commanding market position and was widely accepted as best of breed in terms of innovations, functionality, platform, client base and geographical presence. As such, Ovum believed the WAY4 Mobile Wallet solution was worthy of a place on most technology selection shortlists.

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The WAY4 Mobile Wallet solution from OpenWay, an expert in digital payments and developer of the top-ranked WAY4 digital payment and card processing platform, has been judged a ‘market leader’ in a recent Ovum Decision Matrix report. The report evaluated the technology, execution capabilities and market impact of seven short-listed white-label vendor solutions, across various sub-criteria. It found that the OpenWay solution had established a commanding market position and was widely accepted as best of breed in terms of innovations, functionality, platform, client base and geographical presence. As such, Ovum believed the WAY4 Mobile Wallet solution was worthy of a place on most technology selection shortlists.

17 clients have deployed various configurations of the WAY4 Mobile Wallet solution in Europe, the Middle East and Africa, and Asia Pacific regions. These include the mobile wallet in Switzerland, enabled by SIX Payment Services; B1NK, Kazakhstan, a digital bank launched from scratch with the WAY4 Digital Banking, WAY4 Mobile Wallet and WAY4 Messenger Banking solutions. Additionally, numerous launches of OEM and HCE wallets based on the IPS tokenisation and WAY4 cloud technologies in Eastern Europe and Asia. One of these projects — the MDM Bank, Russia mobile app with embedded contactless payment functionality — was rated the best mobile banking app in Eastern Europe by Global Finance in 2016. 

“With an impressive client list and a proven track record of large-scale deployments, the WAY4 Wallet white-label platform has proven itself as capable of meeting the needs of most wallet providers for the ever-growing range of wallet-driven payment capabilities,” said Gilles Ubaghs, Principal Analyst – Financial Services, Ovum. “Its focus on strong integration standards, flexible deployment options, and modular design means it will likely remain at the forefront of technology deployments in the mobile wallet space for the immediate term.”

“Few organisations have the time, resources, budget or even appetite to create a mobile wallet from scratch. Our highly flexible, open software cuts the time, cost and complexity of launching various types of mobile wallets. Since the WAY4 Mobile Wallet covers both front- and back-office and rich-function APIs, it helps our clients to implement their digital strategies and innovate with various wallet services and unique customer experiences,” said Maria Vinogradova, Director of Strategy and Market Intelligence, OpenWay Group.

The WAY4 Wallet solution supports the entire wallet lifecycle, including customer onboarding, card, account, e-money, bonus points and coupon management, payments and transfers, tokenisation, personal finance analytics, risk management, and loyalty programmes. Its back-office functionality allows for comprehensive multi-currency accounting, GL, and clearing and settlement. The unified front- and back-end architecture is designed to provide full online omni-channel capabilities across payment tools and channels.

“Given that every organisation’s infrastructure is different, the WAY4 Mobile Wallet solution can be delivered as a stand-alone mobile app or integrated with third party wallets and mobile banking apps via API. It also interfaces with core banking and card processing systems. All of this helps maximise flexibility and minimise integration and configuration headaches,” concludes Maria Vinogradova, Director of Strategy and Market Intelligence, OpenWay Group.

 

ABOUT THE REPORT

The Ovum Decision Matrix: Selecting a White-Label Mobile Wallet Solution 2016-17 report helps banks, retailers and other organisations choose the white-label mobile wallet platform that best supports their specific needs and goals. 

To be included in the report, the solution had to have mid- to long-term potential, be applicable to financial service players and available in multiple geographies, as judged by Ovum analysts. 

The assessment methodology was based on responses to a detailed RFI, a solution briefing and an Ovum scoring assessment exercise. Weightings were used to calculate scores for both primary and sub-criteria, and were based on analysis of the typical importance of each criterion in the selection process for mobile wallet platforms. 

Ovum found that the mobile wallet market was increasingly fragmented with many new entrants, including the ‘Pays’. Investment in mobile wallets remained a top priority for over one third of issuers globally, many of which supported a range of mobile platforms simultaneously. As a result, white-label platform design is becoming more agnostic to devices and specific functionalities. A focus on integration, configuration and customisation through APIs and SDKs is key.

OVUM

Ovum is a market-leading research and consulting business focused on converging IT, telecoms and media markets. We create business advantage for our customers by providing actionable insight to support their decisions.

OPENWAY GROUP

OpenWay Group was founded over 15 years ago. We develop WAY4, an innovative e-payment processing framework for banks, payment processors, telcos and petrol companies.

OpenWay was initially headquartered in Brussels, Belgium with one R&D team there and another in St. Petersburg, Russia. Today we are a global company with 10 offices and 130 customers around the world.

Our portfolio consists of WAY4 Card and Merchant Management, Financial Switching, Personalised Channel Banking, Prepaid Cards, E-Commerce, Mobile Payments, Digital Wallet, DCC, Fuel Cards, and other solutions.

Our customers include tier-1 giants, mid-size companies, and ambitious start-ups:

  • Equens, Western Europe (SEPA-acquiring of 0.5 million merchants on WAY4)
  • Savings Bank of Russia (issuing and acquiring back-office, and authorization switch for 140 million credit and debit cards on WAY4)
  • SIX Group, a leading European payment company processing over 4,000,000 cards and migrated over 30 banks to WAY4 within 15 months
  • Comdata, USA (commercial cards on WAY4)
  • Network International, the Middle East (a processing center with approximately 60 banks on WAY4)
  • Raiffeisenbank Int., Eastern Europe (a processing center for 15 banks and countries on WAY4)
  • Bank Audi, MENA region (more than 40 card products on WAY4 including NFC)
  • Halyk Bank of Kazakhstan (the first bank to launch Visa P2P Mobile Transfers)
  • Lukoil Intercard, Eastern Europe (B2B fuel cards with comprehensive loyalty services on WAY4)

WAY4 live installations consistently demonstrate high performance; for example, 90 million cards issued and authorized on a single platform and 12 million POS/ATM clearing transactions processed daily by a single acquirer.

OpenWay, known for its commitment to long-term relationships, both serves customers locally and provides global support. Today our team unites approximately 500 payment business, digital technology, and security professionals.

Apple Pay Launched for the Russian Market with Sberbank and MasterCard

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Mastercard® cardholders of Sberbank will be the first to use the innovation

October 4, 2016, Moscow — Sberbank clients, holders of Mastercard® cards, can now use Apple Pay, which will let them make secure and convenient contactless and online payments. 

“Apple Pay is driving the popularization of contactless payments in Russia and globally. Many Sberbank clients actively use new technologies, and an increasing number of them will prefer cash-free and contactless payment using their smartphones,” commented Alexander Torbakhov, Deputy Chairman of the Executive Board of Sberbank.

Security and privacy are at the core of Apple Pay. The service leverages the safe and secure Mastercard Digital Enablement Service (MDES) platform of Mastercard, which uses the most advanced payment technologies – EMV, tokenization, cryptography and biometrics – to ensure the integrity of cardholder information. 

When a client adds a Mastercard credit or debit card to Apple Pay, the card number is not stored on the device or Apple’s servers. Instead, a unique ID is assigned to each device, which is encoded and safely stored on the device’s Secure Element chip. 

“Mastercard is a technology leader and we are committed to bringing innovations to the Russian market and by doing so, we get Russia to the digital future. With the launch of Apple Pay cardholders have a safe, easy and private way to pay for everyday purchases with their favorite devices – when, where and how they want,” said Alexey Malinovskiy, Head of Mastercard Russia, Kazakhstan, Belarus and Armenia.

Apple Pay can be easily set up in the Sberbank Online mobile application, which is familiar to all Sberbank cardholders. Users can enjoy contactless payment service while continuing to receive all the benefits from using their credit and debit cards. 

In stores, Apple Pay works with iPhone SE, iPhone 6 and later, the Apple Watch. 

Online shopping in apps and on websites accepting Apple Pay is as simple as the touch of a finger with Touch ID, so there’s no need to manually fill out lengthy account forms or repeatedly type in shipping and billing information. When paying for goods and services on the go in apps or Safari, Apple Pay works with iPhone 6 and later, iPad Pro, iPad Air 2, and iPad mini 3 and later. You can also use Apple Pay in Safari on any Mac introduced in or after 2012 running macOS Sierra and confirm the payment with iPhone 6 or later or Apple Watch.

Mastercard contactless payments are available in 77 countries with 6 million acceptance points around the world.

For more details about Apple Pay, please visit: http://www.apple.com/ru/apple-pay/

To get information on how to download Apple Pay to your device, please visit: http://www.sberbank.ru/ru/applepay

ABOUT SBERBANK

Sberbank is Russia’s largest bank and a leading global financial institution. Sberbank holds almost one-third of aggregate Russian banking sector assets; it is the key lender to the national economy and the biggest deposit taker in Russia. The Central Bank of the Russian Federation is the founder and principal shareholder of Sberbank owning 50% of the bank’s authorized capital plus one voting share, with the remaining 50% held by domestic and international investors. Sberbank has more than 135 million individual customers and more than 1 million corporate clients in 20 countries. Sberbank has the largest distribution network in Russia with almost 17,000 branches, and its international operations include UK, US, CIS, Central and Eastern Europe, Turkey and other countries.

The bank holds the general banking license No.1481 issued by the Bank of Russia. Official websites of the Bank: http://www.sberbank.com

ABOUT MASTERCARD

Mastercard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. Mastercard operates the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. Mastercard products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow Mastercard on Twitter @MastercardNews, join the discussion on the Beyond the Transaction Blog and subscribe for the latest news on the Engagement Bureau.

MasterCard Contactless Payments via Mobile Phone with no Additional Passwords

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MDM Bank, one of the largest private banks in Russia, has launched single-tap Mastercard Contactless mobile payments with no additional passwords.

Using the MDM Bank mobile app, the customers can now pay from their Mastercard account with no need to enter a PIN-code or additional app password or even to activate the application before payment. Customers simply unlock their phone and tap it to a contactless reader to pay. The service is based on the solutions by MasterCard and OpenWay, a recognised leader in software for bankcard issuing and acquiring, payment switching, digital banking services and omni-channel payments.

Consumers can now choose how they pay with their mobile phones: with or without a mobile PIN. The new PIN-less service is available to MDM Bank mobile banking customers, who have smartphones running Android 4.4 and higher with NFC support. The application also works on phones unlocked with fingerprint sensors.

The application fully complies with Mastercard security requirements and ensures the protection of financial data according to the international standards. To support the service, OpenWay was the first international vendor to have passed the Mastercard Cloud Payments version 1.0+ certification.

The new service runs in offline mode and is optional for customers. Mandatory authentication to confirm a payment can still be set up in the app, if required.

"Currently only a few banks in Russia have implemented contactless payments via smartphone with HCE technology. MDM Bank's solution allows clients to make purchases without starting the app and without the device being connected to the Internet. HCE technology allowing contactless payment is going to be everywhere: to pay for public transportation, as an access pass for work, school or university, and trends in the development of mobile payment services will only help spreading HCE technology", – Pavel Mikhalyov, director of the development of mobile services department, MDM Bank.
"We now offer a range of solutions for contactless payment – not only using plastic cards, but with smartphones and other form factors, such as wristwatch. With Mastercard Contactless payment technology, a smartphone's usual functionality is upgraded with a possibility to pay for goods and services safe and fast in Russia and abroad, since the solution is available globally", said Dmitry Tartyshev, Business Leader, Business Development, Mastercard Russia. – "We're happy that Mastercard’s technological solutions allow MDM bank to offer its clients the commodity of tap&go payment with their smartphones, making their user experience as convenient and secure as all Mastercard solutions".

MDM Bank's contactless mobile payments functionality is based on WAY4 Host Card Emulation (HCE) technology developed by OpenWay. This universal solution allows issuers to independently issue mobile version of cards and store clients' financial information in a protected format (tokens) on the bank's servers. OpenWay offers a white label application for tokenisation, which the banks can brand with their corporate colors, or use off-the-shelf. In addition, OpenWay develops a new solution that allows a bank to serve mobile tokens from other service providers (Apple Pay, Samsung Pay, Android Pay etc.) in its own, branded, mobile app.

"The opportunities for improving the user experience that we can provide using wallets and tokenization significantly exceed those available with the traditional payment infrastructure. It would be premature to say that plastic will no longer be used in five years but it's clear that there is a category of clients and business tasks for which contactless mobile payments are becoming an important competitive advantage", said Anton Polonovsky, director of business development at OpenWay in Russia and the CIS.

Recently MDM Banks’ Mobile app was recognized as the Best Mobile Banking App by Global Finance magazine in the 2016 World’s Best Digital Banks Awards in Central and Eastern Europe.

First Bank's Chat Bot is Launched on WAY4 Messenger Banking

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B1NK, a digital only bank for new generation in Kazakhstan, is now chatting with customers via Telegram.

This is the first bank bot in the region where customers can send money to friends, manage their cards and keep up-to-date on B1NK promotional offers – all via a popular messenger service.

Friendly chat bot B1NK (@b1nkbot) speaks three languages – Kazakh, English, and Russian. It answers user’s questions about ATM and branch locations, currency exchange rates, and even how bots spend their free time. Users can also request a call-back via the @b1nkbot. 

For customers, messenger banking means they have an always-on digital finance assistant. After they sign in, @b1nkbot can show them their transaction history and card balances, help them to block cards, set card transaction limits, and even to make mobile money transfers to friends. To send money, the user simply chooses the contact and specifies the transfer amount — no other information is required. The recipient receives a message confirming the transfer and is asked to choose a convenient way to receive the money (for example, transfer to a card or to a mobile phone account). 

‘Today only a couple of tier-2 banks in Kazakhstan offer mobile banking services. There’s definite potential for growth in this area, because people in Kazakhstan are tech-savvy and ready to embrace technological innovations. B1NK’s aim is to simplify banking, and to make finance management more convenient’, - Gani Uzbekov, CEO, Capital Bank Capital Bank Kazakhstan (B1NK) says.

The service is based on WAY4 Messenger Banking, an innovative white-label solution which facilitates customer service via messenger applications. The solution is developed by OpenWay, a recognised leader in software for bankcard issuing and acquiring, payment switching, digital banking and omni-channel. The solution supports customer service via all popular messengers, including Facebook messenger, Viber, WeChat, Telegram and Line. It can be integrated with any card processing system. 

‘We are happy for our creative partners at B1NK. The bank’s team is always open to discuss new ideas and is not afraid to experiment. The launch of @b1nkbot is a first for both our companies. B1NK is OpenWay’s first client to use the WAY4 platform for a completely digital bank, which focuses on serving customers via online channels only i.e. mobile banking and social networks’, - Dmitry Dovgal, depute business development director, OpenWay, notes. 

Messengers are friendly environments. Banks are beginning to realise the potential of interacting with customers in a new way, in the customer's language, using a familiar chat format. Banks are always available to their customers, irrespective of their location and device. Messenger banking is an automated alternative to more expensive SMS channels and supplements the service from call centres. Additional features, such as p2p money transfer and interactive photo, video and audio content, can also be used to attract new customers. According to statistics, messengers are an extremely popular communication channel for those aged 16-44.