Cryptomathic Unveils Obsidian: The Next-Generation Payment Platform for the Cloud Era

Cryptomathic, a pioneer in secure digital transactions, today announced the launch of Obsidian, a cutting-edge payment platform designed to meet the evolving needs of the payment industry. The platform offers a robust, cloud-based solution tailored for payment card issuers, wallet providers, and fintech innovators.

A Platform for modernization and Innovation
Obsidian addresses the challenges faced by issuers, processors, and fintechs in the issuer ecosystem, associated with the rapid modernization of services and infrastructure. It enables clients to rapidly issue new payment cards (virtual or physical), manage growing payment card portfolios, and authorize growing volumes of payment transactions, all while migrating to the cloud for reduced costs and increased flexibility.

“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.”

Embracing Mobile Payment Technology
At the forefront of mobile payment technology, 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 device. For fintechs who rely heavily on digital, mobile-centric user experiences, MASC offers the highest levels of security, delivering bank-grade app protection that provides assurance and ensures compliance.

Security and Compliance, Simplified
Obsidian simplifies compliance by integrating with PCI HSMs (Hardware Security Modules) in the cloud, eliminating the need for issuers to manage HSMs. This integration also ensures that PCI requirements are met.

“Security and compliance are at the core of everything we do,” added Schumperli.

Trusted and Proven
Cryptomathic’s software and technologies have been trusted and proven over the past 30 years, with over 15 million cards issued each month worldwide. With Obsidian, those offering payments-as-a service can optimize costs and accelerate time to market, launching credit, debit, or prepaid card businesses in multiple countries within weeks.

For more information about Obsidian and how it can revolutionize payment operations, visit www.cryptomathic.com.