Many people, including issuers, processors and fintechs, in the issuer ecosystem face hurdles when looking to rapidly modernise and introduce new infrastructure. To simplify this process, Cryptomathic, the secure server solutions provider, has launched a new payment platform called Obsidian.
Obsidian will meet the industry’s demands as it enables clients to rapidly issue new virtual and physical payment cards, manage growing payment card portfolios and authorise growing volumes of payment transactions. All the while it will migrate infrastructures onto the cloud to reduce cost and increases flexibility.
Obsidian features Cryptomathic’s Mobile Application Security Core (MASC). The platform allows issuers to develop new, secure mobile payment applications or wallets, offering end users more payment choices from their mobile devices. For fintechs who rely heavily on digital, mobile-centric user experiences, MASC provides assurance, with its high levels of security, all the while ensuring compliance.
Boris Schumperli, payment product line manager at Cryptomathic
“Obsidian is designed to empower financial institutions and fintech innovators by providing them with the tools needed to stay ahead in a competitive market,” said Boris Schumperli, payment product line manager at Cryptomathic.
“With its comprehensive feature set and cloud capabilities, Obsidian allows our clients to focus on delivering exceptional payment experiences without compromising on security or compliance.”
Simplifying compliance
By integrating with PCI HSMs (hardware security modules) in the cloud, Obsidian eliminates the need for issuers to manage HSMs. This integration also ensures that PCI requirements are met.
Cryptomathic’s software and technologies have been trusted and proven over the past 30 years, with over 15 million cards issued each month worldwide. Utilising Obsidian, payments-as-a-service firms can optimise costs and accelerate time to market. They can also launch credit, debit, or prepaid card businesses in multiple countries within weeks.
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