OpenWay, a global provider of digital payment software, announced its collaboration with Visa, a world leader in digital payments, to help financial institutions in Asia Pacific to launch new payment proposals to the market more efficiently.

Banks in the Asia-Pacific region face increasing pressure to launch new payment experiences faster, while managing the complexity of integration, operational resilience and changing customer expectations. OpenWay observes a growing demand, by banks and fintech companies, for flexible platforms that allow more agile innovation without the need to replace large-scale infrastructures.

This collaboration allows banks, processors and fintech companies to launch selected Visa payment functionalities more quickly on OpenWay's Way4 digital payment software platform. Prior coordination between Visa and OpenWay on product requirements and implementation frameworks simplifies implementation and reduces deployment times.

By partnering with Visa, OpenWay achieves early alignment with Visa's product requirements and implementation frameworks, which accelerates preparation for future implementations in Asia Pacific and other regions.

The Way4 platform supports the issuance of cards, digital wallets, merchant acquisition, real-time payments and other payment services on a single real-time platform used by banks, processors and fintech companies worldwide. The platform is designed to help financial institutions launch and scale new payment proposals with high configurability and operational reliability at high speed. Way4 can be run locally, in the cloud, as a dedicated SaaS or in hybrid deployment models.

This is based on several recent product initiatives compatible with Way4. These include Visa Flexible Credential, which allows cardholders to access multiple sources of financing with a single credential, and Visa Fleet 2.0, which supports pay-related use cases related to fleets. Visa is expected to incorporate more products and services within the same framework of collaboration.

"Asia Pacific continues to lead global innovation in payments, and banks are looking for ways to offer new proposals to their customers faster and more efficiently," said Rudy Gunawan, CEO of OpenWay Asia. "Our collaboration with Visa reinforces our ability to help financial institutions implement new payment features on Way4 more quickly."