Global payments software provider OpenWay, renowned for its Way4 platform, has been recognised by Juniper Research as a top-five market leader in digital wallet solutions.
This underscores OpenWay’s role in enabling financial institutions, including banks, processors, and fintechs, to establish extensive payment ecosystems that comply with PCI standards, offering both card and wallet services with a wide array of functionalities.
According to Juniper Research, the global digital wallet user base is expected to grow from 3.7 billion in 2023 to more than 5.4 billion by 2028, highlighting the increasing reliance on digital payment solutions.
OpenWay’s Way4 Digital Wallet platform has been instrumental in this growth, supporting a broad spectrum of payment and transfer types, showcasing scale of innovation, and demonstrating strong future business prospects.
The Way4 platform, on which the digital wallet solution is built, incorporates various cutting-edge features. These include management capabilities for wallets and cards, support for multiple e-money roles such as individuals, merchants, businesses, and agents, and functionalities covering credit, loans, and Buy Now Pay Later (BNPL) options.
The platform also enables fast customer onboarding, tokenization, diverse payment and transfer options, and comprehensive financial management tools including dispute and risk management, omnichannel management, anti-money laundering (AML), fraud prevention, and integration with both fiat and digital currencies, among others.
OpenWay’s global presence, with over 20 technology hubs worldwide, allows it to offer both global expertise and local support, ensuring quick adaptation to regional service specifics and compliance requirements.
This global network enhances the appeal of the Way4 Digital Wallet on an international scale.
Hans Van Buylaere
Hans Van Buylaere, Managing Director of OpenWay Middle East said,
“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.”
Featured image credit: Edited from Freepik
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- Source: https://fintechnews.sg/87201/e-wallets/openway-earns-top-5-spot-in-juniper-researchs-digital-wallet-solutions-ranking/
