OpenWay is the only best-in-class provider of digital payment software solutions according to ratings by Aite, Gartner, and Omdia, and the best cloud payment system provider according to PayTech. Our Way4 platform is used by Tier 1 and 2 banks and processors, as well as ambitious fintech startups. Way4 innovations ensure their success in card issuing, A2A payments, ecommerce and POS acquiring, digital wallets and payment switching.
Core solution
In over 80 countries, we help Tier 1 and 2 banks and processors as well as ambitious startups make payments more efficient and convenient for people worldwide. Over 500 companies run their digital payments business on Way4, including Nexi, Comdata, Finaro, LOTTE Financial Services, Mastercard Processing Services, Network International, Payoneer, Worldline, Enfuce, SmartPay, Banesco Panama, Finnet Indonesia, and Equity Bank of Kenya.
Target market
Contact details
marketing@openwaygroup.com
Geographical presence
Global
Year founded
1995
Investors
Private company
License type
Payment software provider
Member of industry association and/or initiatives
Standards and certifications
PA-DSS, PSD2, SEPA, ISO20022, Nexo, REST OAS3 API, Shariah, American Express, Diners Club, JCB, Mastercard, Visa, UnionPay, domestic schemes and domestic switching
Company's motto
The best payment experience? Start with Way4
Payment Gateway
Yes. The top-rated Way4 payment switch and gateway software orchestrates various channels and systems online. It can process 34,000,000 transactions per day, 4,300 transactions per second; manage 1,000,000 merchants and 1,400 different payment types on a single Way4 installation; power a regional switch with clearing and settlement for 26 banks.
Payment Service Provider - Acquirer
Yes. The top-rated Way4 online back-office software is used by acquirers and PSPs to process payments for retail chains, SMEs, petrol stations, mass transit and parking, HoReCa, airlines, delivery services, ecommerce, digital marketplaces and more merchant types. Way4 functionality includes
Main area of focus
Digital payments software provider
Online
Yes
POS/In store
Hosted pages
White-label solution
Recurring payments
Payment methods supported
Hundreds of local and international payment methods for cards, wallets, and account-to-account payments.
Settlement currencies
Unlimited
Instant settlement
Tokenization
Pay-out/Disbursements
Payments orchestration
Cryptocurrency payments solution
No
Reconciliation and reporting
B2B payments
Consolidated data and reporting dashboard
Chargeback management
Fraud ratio PSD2/SCA
Fraud and risk management partners
FX - number of currencies available
Virtual IBAN
Multi currencies virtual IBAN (# of currencies)
Current account/settlement account
Embedded finance/ Lending to SMEs or merchants
Embedded finance/ BNPL for consumers
Client onboarding (KYC/KYB)
Main clients/references
Banesco Panama, Comdata, Enfuce, Equity Bank, Finaro, LOTTE Financial Services, Maya Philippines, Mastercard Processing Services, National Bank of Greece, Network International, Nexi, Payoneer, Worldline
Case studies
Here are some case studies of our joint projects with clients:
Europe
• Enfuce, a cloud digital bank in EU is using Way4 for card issuing and Card-as-a-Service:
– https://www.openwaygroup.com/new-blog/2022/01/21/launching-card-as-a-service-with-openway
• Finaro uses Way4 Acquiring to automate its merchant back office and connect to international payment schemes https://www.openwaygroup.com/new-blog/2022/01/21/finaro-data-rich-cross-border-acquiring-on-way4
• Banesco Panama succeeds as a processor for ESG projects and fintechs after migrating to Way4 https://www.openwaygroup.com/new-blog/2023/5/25/banesco-panama-succeeds-as-a-processor-for-esg-projects-and-fintechs-after-migrating-to-way4
• Nexi, the biggest payment company in EU serving over 1,000,000 merchants, is transforming its business with OpenWay https://www.openwaygroup.com/new-blog/2020/10/7/openway-is-providing-nexi-with-way4-platform
Asia
• Finnet, a subsidiary of PT Telkom Indonesia, uses Way4 as a switch for 122 billers, 90 banks, 100 thousand outlets, and 800 online merchants https://www.openwaygroup.com/finnet-switch-case-study
• Bank Rakyat Indonesia, the largest bank in Indonesia is engaging the digital customers of the future https://www.openwaygroup.com/new-blog/2021/3/12/bank-rakyat-indonesia-engaging-the-digital-customers-of-the-future
• Bank Muamalat Indonesia (BMI): the oldest Islamic bank in Indonesia goes chip with OpenWay https://www.openwaygroup.com/new-blog/2018/4/16/indonesia-goes-chip-with-openway
• LOTTE Finance and OpenWay introduce new BNPL service to Vietnam https://www.openwaygroup.com/new-blog/2021/10/19/lotte-finance-and-openway-introduce-new-bnpl-service-to-vietnam
• Way4 platform powers the national payment switch of Bangladesh https://www.openwaygroup.com/new-blog/2012/9/26/way4-platform-powers-the-national-payment-switch-of-bangladesh
• Timo, an API-based digital bank that was launched in the AWS cloud in just 4 months https://www.openwaygroup.com/new-blog/2022/10/6/openway-and-timo-create-a-digital-bank-with-a-human-touch
• SmartPay, a successful financial inclusion wallet with over 650,000 merchants and 40 million users https://www.openwaygroup.com/smartpay-case-study
• JIVF selects OpenWay to become a consumer finance leader in Vietnam https://www.openwaygroup.com/new-blog/2023/3/14/jivf-selects-openway-to-become-a-consumer-finance-leader-in-vietnam
Middle East
• Network International launches market-leading Network One platform in partnership with OpenWay https://www.openwaygroup.com/new-blog/2013/6/13/network-international-launches-market-leading-network-one-platform-in-partnership-with-openway
LATAM
• Banesco and OpenWay: building the future of digital payments in Latin America Together https://www.openwaygroup.com/new-blog/2022/1/24/banesco-and-openway-building-the-future-of-digital-payments-in-latin-america-togetherAfrica
• Equity Bank, the pan-African bank group has migrated to Way4 and has become the world’s first ATM acquirer of M-PESA e-money, and later – the recognized wallet hub for different e-money brands across East Africa https://www.openwaygroup.com/new-blog/tag/Equity+Bank+Kenya
AFRICA
Awards
• Aite report: OpenWay is the only Best-in-Class Global Vendor of Payment Processing Platforms https://www.openwaygroup.com/way4-best-in-class-payment-processing-platform
• OVUM report: OpenWay is a Leader in Wallet Solutions https://www.openwaygroup.com/ovum-matrix-wallets
Future developments
Way4 is a cloud-ready solution for data-driven, online personalized payments. Way4 is the only system with a fully online financial core. Several Way4 components are built on a microservice architecture. Containerization is supported for several processes. A new data management platform has support for data streaming and new tools for data analytics. We have created a new Restful API concept. New Way4 solutions have been released and are already helping our clients to transform their business with these features: CaaS, BNPL, wallets, faster risk management, new workbench UX and management, active-active high availability, and more. Development continues along these lines to enhance functionality to the next level for even greater personalization, speed, and efficiency.