OpenWay reaffirms leadership in digital wallet software platforms for banks and fintechs, as recognized by Juniper Research

February 20, 2024 08:00 PM AEDT | By Cision

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OpenWay reaffirms leadership in digital wallet software platforms for banks and fintechs, as recognized by Juniper Research — Image source: Kalkine Media

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MONT-SAINT-GUIBERT, Belgium, Feb. 20, 2024 /PRNewswire/ -- OpenWay, a top-rated global vendor and developer of the Way4 digital payments software platform, has been recognized by Juniper Research as a market leader in digital wallet solutions. Built on Way4, the Way4 Digital Wallet solution empowers banks, processors, and ambitious fintechs worldwide to build comprehensive, PCI-compliant payment ecosystems offering both card and wallet services with extensive functionality. This aligns with Juniper Research's prediction that the global number of digital wallet users will exceed 5.4 billion by 2028, from 3.7 billion in 2023.

New heights in digital wallet solutions

Juniper Research has ranked Way4 Digital Wallet in the top 5 of 15 digital wallet platforms. Vendor evaluation was based on over 10 criteria groups, including the supported range of payment and transfer types, scale of innovation, and future business prospects.

Way4 Digital Wallet embraces all the latest innovations from the Way4 platform. This includes wallet and card management, multiple e-money roles – individuals, merchants, businesses, and agents. It covers credit, loan, and BNPL, fast customer onboarding, tokenization, and a variety of payments and transfers. Financial institutions benefit from dispute and risk management, collections, omnichannel management, AML and fraud prevention, integration with fiat and CBDC/digital currency platforms, flexible integration with third-party services, clearing and settlement, data analytics and reporting. Way4 is known for its rich functionality, rule-driven flexibility, data-driven personalization and APIs, innovation, high availability and scalability. The platform is PA-DSS and PCI SSF compliant. It offers various deployment models, including on-premise, cloud-based, dedicated SaaS, and hybrid mode.

OpenWay serves clients on every continent. With over 20 technology hubs, the company ensures both global and regional expertise with a commitment to local support. Its extensive network allows for quick adaptation to regional service specifics and compliance, adding to Way4 Digital Wallet's global appeal.

Hans Van Buylaere, Managing Director of OpenWay Middle East, remarks: "Digital wallet solutions have evolved dramatically from niche payment products to globally predominant payment tools. The current market demands integrated ecosystems offering diverse services based on accounts, cards, wallets, and now also fiat and digital currencies. Through Way4, OpenWay is at the forefront of delivering such comprehensive solutions. Our legacy of leading the digital wallet wave continues, exemplified by clients like SmartPay in Asia, who have skyrocketed to 40 million customers in four years using Way4 Digital Wallet."

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