Paymentology receives Visa Cloud Connect Certification

Tuesday 31 October 2023 14:39 CET | News

Global issuer-processor Paymentology has announced that it secured its Visa Cloud Connect (VCC) certification from Visa in Europe.

Aligned with Visa’s cloud-first strategy, Paymentology is one of the first issuer processors in Europe to achieve Visa Cloud Connect for its payments platform, allowing it to improve its services for fintechs, banking, and telco clients by connecting the global VCC network. 

Global issuer-processor Paymentology has announced that it secured its Visa Cloud Connect (VCC) certification in Europe.


The collaboration’s capabilities

Considering the current digital environment, fintechs, banks, and telcos aim to expand globally and operate across borders. Yet, they often encounter challenges, including costs associated with local data centres, implementing specialised hardware, compliance with regional standards, and coordination with local partners.  These issues can decrease service deployment and delay customer adoption.

Through this collaboration, Visa and Paymentology intend to directly eliminate these issues. Paymentology’s platform securely connects to VisaNet through cloud-based infrastructure, providing a complete suite of Visa products, removing data centre costs, simplifying transactions, and ensuring data security and increased performance.  This aims to enhance security, accelerate service rollout, reduce delays in customer adoption, and deliver a more reliable, scalable, and secure platform.

As part of Paymentology’s cloud-first initiative, the company has VCC end-point active zones across Europe to ensure optimal uptime for its clients while more markets will be launched as part of the collaborative roadmap. According to Paymentology’s officials, this collaboration solidifies the company and Visa’s relationship, and, by having all of its infrastructure in the cloud, illustrates its commitment to innovation. Moreover, Europe represents the first step in the company’s global rollout plan, with the two companies intending to replicate their cloud-first objective of enabling payments on a global scale by targeting Paymentology’s key markets across APAC, LATAM, Africa, and MENA. 

Previous developments from Paymentology

As a global issuer-processor, Paymentology provides banks, fintechs, and telcos the technology, team, and experience to issue and process any type of physical or virtual card, including debit, prepaid, credit, Buy Now, Pay Later (BNPL), and revolving, among others. The company’s multi-cloud platform offers both shared and dedicated processing instances, global presence, and real-time data, while Paymentology’s team provides local market knowledge in 60 countries.

Recently, Paymentology partnered with Tuily, a Colombia-based fintech, to enable Apple Pay for its business customers. Through this collaboration, Tuily can provide Apple Pay for businesses in the country with the support of Paymentology’s card issuing platform and analytics capabilities to support its objective of improving expense management for small and medium-sized enterprises (SMEs).

During the same period, Tuum partnered with Paymentology to deploy a pre-integrated card payment processing and core ledger service for the European and Middle East markets. The two companies intended to provide banks, financial institutions, and fintechs with access to a global gateway for card management and payment processing tools.

Moreover, Paymentology collaborated with Nelo to support its Mastercard in-person payments via Billetera de Google in Mexico and the launch of physical cards. With this partnership, Nelo received access to a scalable infrastructure solution, allowing the launch of its Tap to Pay solution through Google Wallet, together with its physical card. 

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Keywords: certification, payment processing, Issuer, payment processor, cloud payments, cloud
Categories: Payments & Commerce
Companies: Paymentology, Visa
Countries: Europe
This article is part of category

Payments & Commerce




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