Openway is a payment processor established by OpenWay’s direct Russian subsidiary LLC Openway Service that works under the full control of Malta-based OpenWay Holdings Ltd. The company offers services to banks and payment processing companies all over the world. It supports acquiring companies that handle thousands or in some cases millions of merchants, performing this task within the frames of a single installation.
The company makes a bet on software and enterprise architecture developed by the in-house team to help people make regular payments easily. The platform uses the concept of omnichannel platform to describe its activity, saying that it is the only platform of this kind. Omni Channel commerce with customer data coming from different channels is complicated, so there is demand for software that helps to manage the question easier.
Openway highlights
The company is proud of the cultural diversity of its multinational team that includes over 700 experienced experts and engineers from different countries of the world such as Cyprus, Belgium, Malaysia, Kazakhstan, Indonesia, Vietnam, Ukraine, UAE, and others. The team prefers simple and elegant solutions that don’t require much code and have potential for further development. The team rejects complexity in its products. The goal is to find the best possible solution that can serve long term.
The company serves the following types of clients: banks, telcos, payment processors, national switches, etc. There are many startups and middle-sized businesses among the customers of Openway. The company developed innovative Way4 digital payment software that helps to preserve high rankings of the service. Being a top-rated global vendor, Openway is highly assessed for its excellent execution. The technology it has delivered to the market gets the highest possible scores among experts. The list of customers includes such ambitious startups and well-known companies as Finaro, Equity Bank, Worldline, AIS, Halyk Bank, Krung Thai Bank, and Network International.
Apart from Merchant Acquiring software, the company works over digital wallet, fleet solutions, payment switch software, and more. The merchants-acquiring software allows changes in the industry landscape in any region of the world. The core of the product contains the game-changing principles shaping the whole industry and establishing new standards. Thus, merchants are provided with more opportunities to attract customers through the enhanced personalization of services. Instant payment and improved transaction data makes the payment service more alluring for users. In the opinion of the Openway team, payment services should go beyond POS and ecommerce solutions, using other payment options as well. The availability of diverse payment solutions should be extended globally.
The company partners with 17 European banks, running their POS and ecommerce operations. The platform employs dynamic currency conversion to help banks get profit from their services. The extension of card and e-money acceptance from African countries including Rwanda, Kenya, Tanzania, Uganda, and South Sudan helped the facility to expand the customer base that reached 40K merchants. The customers’ achievements include 34 million transactions per day, and 4300 transactions per second. One of the clients managed to use 1400 payment options on its website. So, the platform delivers a rather robust system to meet even the strictest requirements.
Openway fee
Merchant’s fee ranges from 1.5 to 2%. The rates can be higher for a small turnover, hence small-sized companies. It varies from 2.5 to 2.8%
