MYHSM, the global provider of cloud-based Payment Hardware Security Modules (HSM) as a Service today announces its partnership with Compass Plus, an international provider of retail banking and electronic payments software to processors and financial institutions. Together, the companies are enabling payment providers to deploy Cloud-based infrastructure that aids growth, innovation, and success. The partnership offers fast and flexible project implementation which is crucial within the payments industry for both fintech start-ups and established tier 1 banks. The ability to go from concept to testing to full production in a compliant manner in a matter of weeks is critical to stay ahead of the competition and demand.
The partnership places true emphasis on flexibility and scalability. It provides customers with a customisable platform of products and services to build a compelling USP with a subscription model for fully managed Payment HSMs. The model can either be implemented for organisations running payment solutions in-house or in a Cloud service environment such as AWS, Azure or Google.
MYHSM is a fully managed, PCI PIN compliant service providing active-active “5 nines” availability using Thales payShield 10K HSMs in multiple data centres as an alternative to operating your own estate of Payment HSMs with your own staff. The cost-effective service aligns seamlessly with a Cloud strategy, is globally accessible and removes the need for any physical infrastructure.
Compass Plus offers a cloud-native, open development payments platform TranzAxis, that was purposefully built to enable innovators to innovate. Developed for the needs of today’s fast paced world and tomorrow’s unknown, TranzAxis architecture supports a variety of deployment models across all products, delivering optimal flexibility to its customers at any given time.
John Cragg, CEO at MYHSM, commented: “Payment HSMs are an essential asset in securing the payments system, but they are expensive and complex to own and operate. It’s a huge cost burden that both fintech start-ups and banks want to avoid and that is why we are seeing a growing demand for flexible Cloud-based services. It is key for MYHSM to work with strategic partnerships to change the way the industry consumes HSMs and deliver the benefits of a Cloud payments strategy. It is great to work with Compass Plus a forward thinking, dynamic company that puts innovation and the customer at the centre of their focus.”
“Unlike traditional payments platforms, TranzAxis is not just cloud-enabled, it is cloud-native, with a variety of built-in features and functions that are readily accessible at the click of a button,” commented Maria Nottingham, EVP at Compass Plus. “We have been successfully enabling cloud deployments since 2014 and truly understand the benefits a cloud-based infrastructure can bring. Partnering with companies like MYHSM, who fully embrace the latest technological advancements, is a natural and logical extension of our cloud deployment offering, enabling our customers to take full advantage of everything cloud-based infrastructures are able to deliver.”