#Kazakhstan #Almaty #UnionPay #OpenWay #Way4

OpenWay and UnionPay International Expand Cooperation

OpenWay, a global leader in digital payment software, has announced an exciting development in its collaboration with UnionPay International (UPI), one of the world’s largest payment networks. This new phase of their partnership is set to enhance the comprehensive support for UPI products on OpenWay’s Way4 platform, setting a significant milestone in the digital payment landscape.

Way4 serves as an innovative digital payment software platform utilized by various banks, processors, and fintech companies to manage card issuance, acquiring, switching interoperability, and real-time digital wallet services. As part of this expanded cooperation, OpenWay clients across the globe will now have the capability to issue, acquire, and tokenize UnionPay cards seamlessly on the Way4 platform. This enhancement is expected to facilitate faster and more consistent deployment of UnionPay-based payment services in various markets.

Launch of Big Pay for UnionPay Cards

A groundbreaking achievement within this partnership includes the initial launch of the 'Big Pay' feature for UnionPay cards via Way4, marking a historical first in the industry. OpenWay has successfully activated this functionality in collaboration with six major banks in Central Asia. This marks the first occurrence globally where a UnionPay card has been integrated into a Big Pay solution, showcasing OpenWay’s dedication to innovation in digital payments.

Moreover, additional Big Pay integrations are planned to go live in the near future, which will broaden the variety of mobile and digital wallet options available to UnionPay cardholders on the Way4 platform. This supports OpenWay's continuous effort to foster innovation while meeting the evolving needs of customers.

Pioneering Innovations from Central Asia to the World

OpenWay has long established itself as a pioneer in the global payments sector, particularly noted for its strides in implementing international payment systems (IPS). Since 2004, OpenWay has facilitated the inaugural issuance of a UnionPay card in Kazakhstan through the Way4 platform. Since then, it has played a crucial role in transitioning Central Asia into a hub for fintech innovation.

The close working relationship between OpenWay and UnionPay International has resulted in multiple groundbreaking initiatives in the region, including the deployment of UnionPay smart card infrastructure across Central Asia. As of today, the Way4 platform holds an esteemed global reputation for its excellence in integrating cross-border card networks, wallet-based innovation, real-time payments, and AI-driven payment solutions. This demonstrates OpenWay’s capability to align global standards with local financial infrastructures, offering future-ready capabilities in every market it engages.

A Vision for Local and Global Payment Solutions

Rustem Nurmambetov, Chief Operating Officer of OpenWay in Central Asia, highlighted the significance of this partnership: “This cooperation showcases the power of glocal innovation. Global breakthroughs often stem from local visions. Together, along with UnionPay International and our local banking partners, we set a global precedent for modern, inclusive, and interoperable payments.”

As the collaboration continues to grow, the impact of OpenWay and UnionPay International's partnership will likely enhance the payment ecosystem across various regions, providing customers with more choice and flexibility in their digital transactions. The future of payment solutions looks promising, with OpenWay leading the charge in innovation and collaboration for its clients worldwide.