FinTech start up CLOWD9 receives Visa certification
Leveraging Cloud Connect, Visa’s cloud-based infrastructure, will enable the further expansion of CLOWD9’s processing service to clients worldwide. As an issuer processor, CLOWD9 sits at the center of the global payments system, acting as the interface between banks, FinTechs and payment firms to authorize transactions and initiate payments, maintain the system of record for cardholder data, and provide settlement instructions.
Clients of CLOWD9 will have access to Visa’s payment network which is accepted online and instore by 80M+ merchants worldwide.
Unlike many existing models, CLOWD9 has been built entirely in the cloud, removing the need for physical hardware. Its decentralized model allows virtual access to the platform around the world, via ‘instances’, with payments transactions routed to the nearest cloud instance, providing unparalleled reliability.
The technology behind the CLOWD9 platform has been designed and built in-house, with open APIs that neo banks and FinTechs can maximize to provide their customers with groundbreaking customer experiences. Its platform is uniquely built with microservices architecture, which enables CLOWD9 to scale up and down according to transactional demand, making its platform more energy efficient and resilient compared to legacy architecture.
Joe Samuel, VP Issuer Processing Partnerships, Visa, said: “We congratulate CLOWD9 on their recent certification, and recognize the importance of leveraging cloud technology in the modern payments landscape. Technology modernization is under way in both payments and financial services, and we understand the importance of meeting the demands of our clients and partners, enabling them to better serve their clients.”
Suresh Vaghjiani, CEO, CLOWD9, said: “This is a significant milestone for CLOWD9 and testament to the momentum of the business that, within a month of our formal launch, we have completed this partnership with Visa. In doing so, those clients using CLOWD9’s issuer processing platform will have access to one of the world’s largest payment networks. Visa has been innovative in the way it has embraced cloud technology, something that underpins our own mission as a business – leveraging technology to build global payment networks that are fit for purpose in the modern world.”
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