OpenWay

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

Service provider type

Payment Gateway

Yes. The top-rated Way4 payment switch and gateway software orchestrates various channels and systems online. A single Way4 installation can process over 200 million cards, over a million merchants, over 4,000 transactions per second, and 1,400 different payment types, also power regional switches with omnichannel payment gateway, clearing and settlement for over 70 banks and micro finance institutions. 

Payment Service Provider - Acquirer

Yes. The top-rated Way4 online back-office, payment gateway and channel management 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 online account management, dynamic pricing, authorisation, online transaction and data processing and reporting, financial document processing, loyalty programmes, customer onboarding, dispute management, risk management, rich API, clearing and settlement, and interfaces to IPS.

Main area of focus

Digital payments software provider

Channels - context

Online

Yes

POS/In store

Yes

Payments capabilities

Hosted pages

Yes

White-label solution

Yes

Recurring payments

Yes

Payment methods supported

Hundreds of local and international payment methods for cards, wallets, and account-to-account payments.

Settlement currencies

Unlimited

Instant settlement

Yes

Tokenization

Yes

Pay-out/Disbursements

Yes

Payments orchestration

Yes

Cryptocurrency payments solution

No

Reconciliation and reporting

Yes

B2B payments

Yes

Reporting/dashboards

Consolidated data and reporting dashboard

Yes

Fraud and risk management capabilities

Chargeback management

Yes

Fraud ratio PSD2/SCA

Yes

Fraud and risk management partners

Yes

Financial and compliance capabilities

FX - number of currencies available

Unlimited

Virtual IBAN

Yes

Multi currencies virtual IBAN (# of currencies)

Yes

Current account/settlement account

Yes

Embedded finance/ Lending to SMEs or merchants

Yes

Embedded finance/ BNPL for consumers

Yes

Instant settlement

Yes

Client onboarding (KYC/KYB)

Yes

Clients

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 

• Nexi, the biggest payment company in EU serving over 1,000,000 merchants, is transforming its business with OpenWay 

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 

• Bank Rakyat Indonesia, the largest bank in Indonesia is engaging the digital customers of the future  

• Bank Muamalat Indonesia (BMI): the oldest Islamic bank in Indonesia goes chip with OpenWay  

• LOTTE Finance and OpenWay introduce new BNPL service to Vietnam  

• 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  

• SmartPay, a successful financial inclusion wallet with over 650,000 merchants and 40 million users  

• JIVF selects OpenWay to become a consumer finance leader in Vietnam 

Middle East and Africa

• Network International launches market-leading Network One platform in partnership with OpenWay 

• In Saudi Arabia, 4700+ ATMs of Al-Rajhi Bank enable Hajj pilgrims from Indonesia to withdraw cash with a minimal fee and the preferable exchange rate, thanks to the flexible configuration of Way4 Switch

• 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 

LATAM

• Banesco and OpenWay: building the future of digital payments in Latin America Together 

• Banesco Panama succeeds as a processor for ESG projects and fintechs after migrating to Way4 

Awards

• Aite report: OpenWay is the only Best-in-Class Global Vendor of Payment Processing Platforms 

• OVUM report: OpenWay is a Leader in Wallet Solutions 

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.