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Monoova partners with Fastly

Wednesday 6 March 2024 13:25 CET | News

Monoova, an Australia-based payments automation provider, has selected Fastly to provide enhanced transaction security for the company’s client base. 

As per the official announcement, Monoova’s proprietary payments platform has processed transactions worth more than USD 100 billion and the platform handles millions of transactions each month. 

The decision to deploy Fastly was made following a comprehensive proof-of-concept (POC) trial during which the platform’s performance and scalability were closely examined. 

Monoova, an Australia-based payments automation provider, has selected Fastly to provide enhanced transaction security for the company’s client base.

Officials from Monoova stated that the POC demonstrated that Fastly could deliver the reliability that it required to support its growing client base. Fastly’s capabilities in the areas of both API and web application security as well as in its DDoS (Distributed Denial of Service) protection and SOC expertise is what Monoova required. 

Fastly has become Monoova's new front door, handling everything from its API and payments traffic to its public-facing website. 

Strengthened security and growth 

Fastly was also judged to be the most appropriate security platform for Monoova because of its support for multi-cloud environments. Monoova delivers payment processing services using a hybrid environment comprising private virtual cloud, public cloud, and third-party cloud resources. 

Fastly allows it to aggregate those resources into a combined management view which is a significant benefit, as it gives Monoova a control plane on which it can view all its resources regardless of where they are running. 

For its clients, this means they can have access to a secure platform and digitise their entire payments process without needing to introduce any additional manual processes in their back office. 

The press release continues to state that with Fastly now fully deployed, Monoova is well positioned to continue its growth rate. As well as supporting traditional payment systems such as BPay and Direct Debit, the company also enables its clients to use Australia’s New Payments Platform services such as PayID and PayTo. Currently, an estimated 10 percent of all PayID merchants are registered with the company, as well as being a leader in PayTo facilitating the more than 70% of all active agreements in FY23. 

About Monoova 

Monoova is a B2B digital payments providers. Monoova helps businesses with large, ongoing transaction flows to manage all payments automatically, through simple API integration. This means significant cost reduction, increased efficiency, speed and enhanced ability to scale. Aside from PayTo, its solutions include enhanced Direct Debit, BPAY, Direct Entry, NPP, and Cross-border Payments.  

About Fastly 

Fastly’s programmable edge cloud platform helps brands deliver online experiences possible through edge compute, delivery, security, and observability offerings improving site performance, enhancing security, and empowering innovation at global scale. Organisations around the world trust Fastly to help them upgrade the internet experience, including Reddit, Wendy’s, Stripe, Neiman Marcus, Universal Music Group, SeatGeek, and Advance Publications. 

Source: Link


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Keywords: online security, partnership, fraud prevention, digital payments, cybersecurity
Categories: Fraud & Financial Crime
Companies: Monoova
Countries: Australia
This article is part of category

Fraud & Financial Crime

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Monoova

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