How to leverage full cloud adoption in payments

Digital transformation and the global growth of electronic payments forges ahead with unprecedented momentum, but this growth potential does not guarantee success for payment companies. Consumers have lots of choice in this regard, and the financial services industry is heavily saturated with FinTech’s, banks, processors, etc all fighting for a market share and hoping to secure customer loyalty. All payment companies are increasingly looking to the cloud as means of accelerating their business, in that it can help them increase their agility and ability to react to the latest trends, to reduce costs and to free up their resources to enable them focus on innovation and maximizing their differentiators. A total cloud adoption strategy is therefore desirable to help capitalize on all of the benefits that the cloud offers and avoiding a hybrid on-premise/cloud state that would dilute many of the cloud advantages, but is moving the entire physical payments infrastructure wholly to the cloud without compromising on security, regulatory compliance, performance etc, possible? The main obstacles to fully moving a payments infrastructure wholly to the cloud have historically revolved around the Payment Hardware Security Modules (Payment HSMs) which need to comply with stringent PCI-PIN regulations and ensure low latency, and also the physical payment scheme access points that are required to access the Visa and Mastercard payment networks for example. This webinar explores the current market trends and explains how MYHSM by UTIMACO overcomes the challenges of adopting a full cloud strategy, with CLOWD9 providing a compelling review of how they achieved their strategic aims with AWS and MYHSM by UTIMACO after having “walked the walk” themselves.