Paymentology, the global issuer processor, has become the first issuer processor in Europe to secure ‘Visa Cloud Connect’ (VCC) certification from Visa, a world leader in digital payments.
As Paymentology receives Visa Cloud Connect certification from Visa, it is now able to better serve its fintech, banking and telco clients by connecting to the global VCC network. The certification is also in line with its cloud-fist strategy.
Increasing numbers of fintechs, banks, and telcos are looking to expand globally and operate across borders. However, they often encounter obstacles such as the costs associated with local data centres, implementing specialised hardware, compliance with regional standards, and coordination with local partners. These challenges can slow down service deployment and hinder customer adoption.
The Paymentology and Visa Cloud Connect collaboration aims to directly tackle these challenges. Paymentology’s next-generation platform securely connects to VisaNet via cloud-based infrastructure, offering a full suite of Visa products, eliminating data centre costs, streamlining transactions, and ensuring data security and high performance. This enhances security, accelerates service rollout, reduces delays in customer adoption, and ultimately delivers a more reliable, scalable, and secure platform.
As part of Paymentology’s cloud-first initiative, it plans to have VCC endpoint active zones across Europe to ensure ultimate uptime for its clients while more markets will be deployed as part of the ambitious collaborative roadmap.
The first step in Paymentology’s “global rollout plan”
Merusha Naidu, global head of partnerships at Paymentology, commented: “As the first issuer processor in Europe to have our infrastructure purely in the cloud, this move not only exemplifies our commitment to innovation but also establishes our platform as the epitome of flexibility, scalability, and security for our clients.
“Europe marks the first step in our global rollout plan.
“We look forward to continuing our collaboration with Visa, unlocking payments together on a global scale by providing more reliable solutions for fintechs to get to market quickly.”
Joe Samuel, vice president and head of issuer enablers in Europe for Visa, also added: “Expanding access to financial tools and services is core to Visa’s purpose – uplifting everyone everywhere.
“Partners that connect to our global Visa Cloud Connect network unlock a wealth of product solutions for their clients and so we’re excited to continue our longstanding partnership with Paymentology.”
Going forward, the collaboration between Visa and Paymentology intends to replicate its cloud-first commitment to unlocking payments on a global scale, targeting Paymentology’s key markets across APAC, Latam, Africa, and MENA.
Paymentology explained that it hopes to remain at the forefront of innovation in the fintech and banking sector, providing a next-generation payments platform and multi-cloud network to process any type of card as a preferred issuer processor of Visa.