Paymentology joins Visa's Fintech Fast Track Program and is granted Visa Ready certification in the Middle East
7 months ago
Dubai, UAE, 08 February 2021
UK based fintech and issuer payment processor Paymentology, has formed a strategic collaboration with Visa in the Middle East through Visa’s Fintech Fast Track Program.
Paymentology, which provides issuer side card processing across four continents and is at the forefront of the card processing space, has been granted Visa Ready certification globally and joins an ecosystem of award-winning technology innovators committed to building tomorrow’s banking technologies. Visa Ready certification allows Paymentology which is a cloud-based payments processor to empower banks to offer tailored products through access to real time data.
Visa Ready certification assures banks and financial institutions globally that third party payment solutions meet Visa’s high security and functional standards.
Through its association with Visa’s Fintech Fast Track Program, Paymentology is set enable the digital transformation taking place across the banking sector. Joining other innovators and through a shared commitment for banking technology, Paymentology will enable issuing banks to offer smarter, more secure and streamlined payment solutions. Powering the digital issuance journey with Visa Ready certification, Paymentology joins an ecosystem of Visa Ready certified Fintech Fast Track players in the region.
“The Visa Ready certification further boosts customer confidence in our capabilities. It also enables us to deploy Visa card programs faster for banks around the world. We are of particular appeal to digitising banks who are looking to move away from legacy processors to more economic, more agile and more flexible solutions,” says Shane O’Hara, CEO at Paymentology.
“Visa is delighted to grant Paymentology with Visa Ready certification. Paymentology’s cloud native processing solution, with open API interfacing and live ‘at point of spend’ feed to the banks, makes it easier for digitising banks to migrate away from legacy systems. By joining Visa’s Fintech Fast Track program, we believe this collaboration will ultimately help our traditional and fintech clients deliver improved customer experiences faster and easier than ever,” said Otto Williams, Vice President and Head of Strategic Partnerships, Fintechs and Ventures in CEMEA at Visa. “We are looking forward to building out the capabilities that we can offer to fintechs and together drive the expansion of a digitally connected payments ecosystem.”
Paymentology is positioned as a cloud-based processor capable of offering dedicated and co-hosted processing across the full retail banking and challenger banking space. Paymentology is the issuer processor of choice by customer-first digital banks, along with other Visa Ready processors leads the drive to provide scalable secure processing for the larger field of digitising retail banks around the world.
Notes to Editors
Paymentology runs multiple issuer payment card processing platforms across the world, spanning Mastercard, Visa and UnionPay networks. The company is recognised as the leading innovator in the sector.
The company specialises in replacing legacy issuer card processing, provision of cloud and data centre-based processing, direct transaction injection into bank GL, delivery of rich card spend datasets to bank, enablement of very latest cardholder spend controls, and support of debit, credit and pre-paid card programmes.