Paymentology, the UK-based global publisher payment processor, can now offer unique products to banks through real-time data access. The company’s new Visa Ready certificate means that banks and financial institutions that use Paymentology will meet Visa’s security standards.
The London-based fintech startup, founded in 2015, has been successful as a cloud-powered payment solution for rival banks and even on the early launch of a global credit card processing platform, called Credit Works. last year.
Paymentology currently enables online banks to deliver market-leading card products with spending controls and enhanced features to their customers.
At the same time, the Credit Operations platform works with various limits, interest rates, and trade and card fees as a credit management solution. The platform is also used for reward programs while accessing real-time messenger data at the time of consumption.
The Visa Ready certificate also follows a recent announcement by Paymentology, that it has been selected by Mastercard to enter its Fintech Express program and its Engage Program. The partnership appears to be advancing banking technology innovations around the world.
Pay improvements
Shane O’Hara, Head of Payments, said the recent developments will boost global banking options for customers. “The Visa Ready certificate increases consumer confidence in our capabilities,” he explained.
O’Hara said, “It will allow us to use Visa card programs more quickly for banks around the world. We are particularly keen to digitize banks that are looking to move away from legacy processors to more economical, flexible and agile solutions. ”
Payologyology runs multiple payment card processing platforms. The company’s network spans the globe through the UnionPay, Mastercard and Visa networks. The fintech’s focus is on replacing legacy issuer card processing, providing cloud and data-based processing, injecting direct trade into an GL bank, and delivering card consumption data sets to the bank.
Paymentoloy also provides cardholders with the latest spending controls, and support for debit, credit and prepaid card programs.
At the same time, the Credit Operations platform works with various limits, interest rates, and trade and card fees as a credit management solution. The platform is also used for reward programs while accessing real-time messenger data at the time of consumption.
Jonathan Griswold, Visa’s Head of European Partnerships, said, “Visa is delighted to offer Visa Ready-certified Paymentology. Paymentology’s native cloud processing solution, with an open API interface and ‘feed-at-consumption’ live feeds for the banks, makes it easier for digitized banks to move away from legacy systems. ”
He continued; “We look forward to building on the capabilities we can offer fintechs and together leading the expansion of a digitally connected payments ecosystem. ”