OpenWay, the international vendor of WAY4 card management, channel banking and transaction switching software, has partnered with Thales to integrate its WAY4 platform with the Thales payShield 9000 host security module.
In addition OpenWay has joined Thales eSecurity's Alliance for Solution and Application Providers (ASAP) program for the ongoing sharing of knowledge and solution support. Such advanced partnership results in proactive protection against security threats. It benefits all banks and processors who use Thales host security modules in their WAY4-powered processing of e-commerce transactions. E-commerce volumes will grow significantly by 2014 both in US and Western Europe, as Forrester predicts.
"We at OpenWay have been supplying our clients with the most efficient security means in proactive manner for 15 years now. This strategy is possible due to our partnership with a leading cryptographic innovator like Thales", comments Wim Pardon, Director of OpenWay EMEA. "Our WAY4 platform widely relies on the cryptographic security provided by Thales. In addition to regular card-present operations, the payShield 9000 HSMs supports one-time-password authentication for processing WAY4 Web Banking, WAY4 Mobile Banking and WAY4 e-Commerce 3-D Secure transactions." According to Forrester, US online retail (eCommerce) will grow at a 10 percent compound annual growth rate (CAGR) by 2014 to reach nearly $249 billion. Correspondingly, the major Western European nations will grow at an 11 percent CAGR, hitting €114 billion in five years' time.
Thales has been at the forefront of security and payments technology for more than 40 years, securing more than 70 percent of the world's payment transactions", says Cynthia Provin, Director, Global Strategy and Marketing at Thales eSecurity. "Our partnership with OpenWay demonstrates our continued commitment to the payments industry by delivering innovative security solutions and effectively enables our customers to protect against fraud in their payment processing infrastructure."