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MYHSM and OpenWay rethink payment security in the cloud

Tuesday 28 January 2020 15:05 CET | News

MYHSM, a global provider of Payment HSM as a Service, has partnered with OpenWay, a provider of payment software, to accelerate the move of digital payments into the cloud.

A growing number of banks and processors are choosing to adopt a cloud architecture for their payment solution. This is especially relevant for greenfield projects where a company launches a new business line or creates test environments. In such cases, a cloud installation can offer cost savings and reductions in implementation time.

However, the major cloud service providers do not offer payment HSMs as a service. Most of the time, banks and processors are forced to run this essential security component of their payment system in-house.

This announcement means that banks and processors using WAY4 can now utilise MYHSM’s cloud-based Payment HSM as a Service in their cloud software installations. WAY4 users who prefer to run WAY4 on their own infrastructure can also benefit by handing over responsibility for providing HSM capability to MYHSM.

MYHSM’s Testing Service will also help all companies running Way4, both in the cloud and on their own infrastructure, to test the implementation without requiring major investments. To run the service, MYHSM utilises the Thales payShield, the world’s most widely deployed Payment HSM, and Equinix, the leader in interconnection.

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Keywords: OpenWay, MYHSM, partnership, payment solution, HSM, digital payments
Categories: Payments & Commerce | Online Payments
Countries: World
This article is part of category

Payments & Commerce