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Gr4vy expands cloud Vault-as-a-Service

Friday 15 September 2023 08:46 CET | News

Cloud-native payments infrastructure provider Gr4vy has expanded its enterprise-level Vault-as-a-Service (VaaS) to merchants of all sizes. 

The cloud vault can be accessed through a subscription-based, self-service model. As of the announcement, merchants can access three tailored plans that simplify payment data management and storage, with a scalable cloud infrastructure. PCI DSS Level 1 certified, GR4vy’s vault aims to ensure data portability and PSP independence. Moreover, the solution aids in managing the tokenisation strategy in a secure environment. 

Cloud-native payments infrastructure provider Gr4vy has expanded its enterprise-level Vault-as-a-Service (VaaS) to merchants of all sizes.

 

Gr4vy’s cloud VaaS solution

According to Gr4vy’s officials, the company expanded its vault to offer all merchants a level of service that complies with their individual needs, while also allowing them to implement tokenisation and scale their business. Moreover,Gr4vy’s vault provides merchants with the infrastructure and PSP-specific tokens, in a ready-made solution.

Research data shows that the fintech as a service market is projected to surpass USD 995.9 billion in 2023, while the total volume of tokenised payment transactions is expected to reach USD 1 trillion by 2026. As data breaches, data compliance regulations, and growth within the tokenised payment transaction market increase, merchants need to consider a tokenisation strategy that can benefit and protect their businesses.

With Gr4vy’s VaaS solution, merchants can store original raw card data, billing, and shipping details, and link them to a vaulted card. Moreover, token management allows merchants to provision network tokens and their cryptograms, facilitate PSP tokens, and distribute card data for third-party processing. The centralised cloud vault supports regional data deployment, maintaining compliance and local data regulations.

Also, merchants can import existing card data and PSP tokens from any PSP into Gr4vy’s vault. They can export data as a PSP token, Network Token, Card Push, or as a new service. In addition, data stored in the cloud vault is owned by the merchant, eliminating vendor lock-in and offering portability and flexibility.  

About Gr4vy

Gr4vy offers merchants to scale and control over their payment stack, helping them to optimise their payment acceptance, while also reducing security issues. Its cloud-native payment orchestration platform enables the ability to connect, test, and deploy processors, alternative payment methods, and services with no additional costs, resources, or development time.

Recently, the company secured a series of partnerships and investments. Gr4vy received an investment from W23, planning to use it to further expand its presence in Australia and the APAC region. The investment is an expansion of an existing partnership initially announced in 2022.

Moreover, at the beginning of June 2023, the company launched its centralised cloud vault to help merchants collect and store card data in a secure manner. The cloud vault helps to securely tokenise, store, pull, update, and distribute card data, including network tokens, alternative payment methods tokens, and PSP tokens.

Back in April 2023, Setplex entered a partnership with Gr4vy to improve time-to-market and expand payments. The collaboration allows Setplex to onboard new merchants and implement locally preferred payment methods efficiently.

For more information about Gr4vy, please check out their detailed profile in our dedicated, industry-specific Company Database.


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Keywords: cloud services, fintech, tokenization, security token, fraud prevention, PCI DSS
Categories: Fraud & Financial Crime
Companies: Gr4vy
Countries: World
This article is part of category

Fraud & Financial Crime

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Gr4vy

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