MYHSM, a provider of cloud-based Payment Hardware Security Modules (HSM) as a Service has 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.
“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,” says John Cragg, CEO at MYHSM.
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.”