Paymentology, the world’s first truly global issuer-processor, has joined forces with cloud-native core banking platform 10x to provide pre-integrated credit and debit card issuing and processing.
With its world class, enterprise-grade core banking platform, SuperCore®, 10x enables banks to deliver products, services and customer experiences at speed and reduced cost. Combined with Paymentology’s next-generation technology, including the issuing and processing of physical and virtual cards on the Visa and Mastercard networks as well as several domestic switches, enables banks to deploy credit and debit cards 10x faster than ever before.
The partnership enables banks to move from restrictive card batch processing to real time, removing pain from processes in issuer tech stacks and providing a simple view of card clearing, settlement and chargebacks from the 10x platform. The pre-integrated capability means that through a single API interface, banks have access to a wide range of next generation card solutions, tokenization and 3DS out-of-the box, and access to real time transaction and clearing data from Paymentology’s FAST feed into 10x’s data architecture in a consistent ISO20022 format.
As a result, large complex banking institutions can redesign historic operating models, deploy resources and management mindshare around their core customer proposition.
David Oppenheim, Global Head of Ecosystem Partnerships, Paymentology commented on the announcement: “We’re incredibly proud of this partnership. A tremendous amount of effort has gone into creating a unique offering, appropriate for ambitious clients who are systemically important banks in their respective markets. The 10x cards module powered by Paymentology takes advantage of cloud-native technology which meets their diverse needs on one simplified, scalable and highly secure platform.”
Leigh Pepper, Chief Product Officer, 10x Banking added: “We are delighted to be working with Paymentology to deliver the future of cards on our platform. SuperCore enables 10x clients to take full advantage of the speed, cost and agility of modern technology to deliver fully integrated, customisable product offerings across savings, lending and now credit and debit card and local rail payment processing in superfast time.”
