Way4

Way4 Issuing Start

Issuing
Start A standardized software kit enabling quick
1 and easy go-to-market for issuing services Version 1.0
 Your shortcut
Way4 Issuing Start

to the digital
and cloud era
Open banking initiatives, cloud With more companies entering the services can take months or years
technologies, and the adoption payments market, there is more to go live, while they consume
of digital channels have opened competition than ever before. resources that might be applied
up exciting new opportunities for to new business opportunities.
Issuers launching card programs
the card issuing market. In some To give issuers a smoother entry
often have to make significant
Way4 Issuing Start

countries, new regulations are into the digital and cloud era,
investments in both technical
now allowing retailers, telcos and OpenWay has developed the
infrastructure and highly skilled
fintech startups to become issuers. Way4 Issuing Start solution.
2 personnel. New products and
 Who Will
Way4 Issuing Start

Benefit?
New issuerslaunching their business from scratch
with a limited initial budget and/or timeframe.
Incumbent issuerswho want to diversify revenue
streams by expanding a product or service offering,
such as adding prepaid cards to an existing credit
and debit portfolio.
Non-bank companieswanting to grow their
customer base and revenue with new services,
such as retailers who want to sell instalment cards
on POS, or telcos that want to offer prepaid cards.
Fintech startupsaiming to build a fully-fledged
card management system to realize their innovative
ideas, yet lack expertise in payment processing
business and technology.
Processorswho need a scalable and standardized
issuing solution that allows them to onboard new
banks painlessly, and also delivers new business
3 features to existing clients quickly.
 What You The solution supports the full cardholder Hierarchy setupfor card contracts
Way4 Issuing Start

lifecycle from online customer and

Varietyof preset products, fees

Get?
product onboarding, account opening
and settlement parameters
and card personalization, to authentica-
tion, payments and transfers. It lightens Loyalty schemes
the business load on issuers by auto-
Standard risk rules
mating a number of workflows, among
which are accounting, clearing and settle- Multiple currencies
ment, online fraud prevention, dispute
Set of APIsto be ready
assistance, and more. Predefined fee
for open and digital banking
calculation rules, product parameters and
billing functionality help issuers to easily Smooth expansioninto the
adapt to a rapidly changing environment. full-fledged Way4 Issuing solution

Way4 Issuing Start is PA-DSS certified, Easy integrationwith

which helps you achieve compliance and the Way4 Acquiring solution
go to market more quickly. The Way4 platform is modular. It gives
As a solution based on Way4, the issuers the advantage of enrolling a
unified online transaction management minimum viable product quickly and
Way4 Issuing Start is an and accounting platform, Way4 Issuing expanding functionality gradually.
end-to-end platform that allows Start offers you these important Way4 Issuing Start gives us:
business features:
you to build an issuing business or An off-the-shelf software kit w
 ith
transform your existing business, Issuing of major card brands a set of pre-configured products
both quickly and at low cost. Choice of a card product type: A ready-to-use set o
 f regression tests
It provides flexible online back- credit, debit, prepaid, corporate
Out-of-the-box manuals a  nd
4 office for transaction processing. Data preparation & card personalization configuration descriptions
 Why Way4?
Way4 Issuing Start

Developed by OpenWay – the vendor All-in-one & modular:Way4 supports Digital by nature:your card business on
with #1 global ranking in Card Issuing end-to-end classic and innovative card Way4 will be fully digital with the online
and Merchant Management by Gartner management. This includes online back-office, issuing of cards, accounts,
and Ovum, 2009-2016 customer and product onboarding, tokens, bonus points and wallets, APIs
account opening, card personalization, for digital customer onboarding and
Chosen by tier-1, mid-size and start-up
fees, and payments and transfers. The open banking support
issuers, banks, payment processors,
solution also automates many work-
telecom, fleet and transport companies Revenue-driven: a
 wide range of
flows: real-time fraud prevention, dispute
in EMEA, Asia, and the Americas. Among value-added services for customer
assistance, accounting, clearing and
them are Nets, Network International, SIX engagement and monetization
settlement, analytics, and reporting.
Payment Services, Raiffeisen Bank Inter-
Way4 is an end-to-end digital payments
national, ACB, Equity Bank of Kenya Cloud-ready:can be deployed on leading
platform: issuing, acquiring, switching,
cloud platforms such as Oracle Cloud,
Proven scalability and performance: e-commerce gateways, loyalty, and mo-
AWS, and Microsoft Azure
with Way4, our clients have set industry bile wallets are all covered. If you decide
records in their respective regions. Some Compliant:the solution fully meets the to scale operations and develop new
of their achievements are managing over requirements of all major international business models, multiple out-of-the-box
200 million cards on a single platform, payment schemes and PCI SCC (PA-DSS solutions are available on Way4
processing 3,700 transactions per sec- compliance)
ond, and innovating issuing portfolios for
Personalized:your offers can dynami-
40 client banks on the same platform
5 cally adapt to your customers’ behavior
 Way4
Way4 Issuing Start

Issuing Start
Functionality
Way4 Issuing Start brings you a set
of carefully selected best practices
in a standard package. For more
Way4 Issuing Start

detailed functionality and a complete

list of options available, please refer
to the Functional Specification (can
6 be requested from your BRM).
 Types of
Way4 Issuing Start

Cards

Account type Card brands

• Credit (revolving, instalments) • Visa
• Debit • Mastercard
• Prepaid • Extra options: AMEX,
• Corporate Diners Club, JCB,
UnionPay,
A standard Way4 Issuing start license local card brands,
includes one account type, which can closed-loop
be extended to other account types
as needed.
Form-factor type
• Card with a magnetic stripe
Specific product parameters can
be set up for each account type. • EMV chip card
For example, issuers of revolving cards • Contactless card
can manage interest accrual, credit • Virtual card
limits, repayment schemes, billing
7 cycles, and other features.
 Customer
Way4 Issuing Start

Relationship

Onboarding
Batch uploadthrough XML Advanced Applications
Integration with third-party onboarding systems
(e.g. SalesForce) via APIs, option available with an
additional license
Way4 Customer Service Workbench:bank staff can
create new cardholder contacts via web-based Way4
interfaces, option available with an additional license.

Management
Issuers can use a preset customer service interface
to manage customer data and provide support.
Online cardholder statements may be generated.
Issuers can setup SMS notification rules 
and send SMSs to their cardholders.
8
 In WAY4 Issuing Start, issuers can create
Way4 Issuing Start

contract hierarchies of up to two levels.

It simplifies management of financial
relationships and liabilities between
accounts. Each account/card level can Maria’s account
be assigned its own products, transaction
rules and limits.
Accounting rules
Here is an example of a simple standard
hierarchy setup: Transaction rules and limits

Card for Maria Card for her son

Accounting rules Accounting rules

Transaction rules Transaction rules
Limits Limits

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 Product
Way4 Issuing Start

Management
Data Preparation &
Card Personalization
Way4 supports the end-to-end process of card produc-
tion. The system will set up EMV profile values, security
keys, and a connection to HSM, and prepare personaliza-
tion data to be sent to an external personalization bureau.

Alternatively, to personalize cards, issuers can use

the Way4 Data Preparation and Card Personalization
module. It is EMV-compliant and supports data prepa-
ration for magnetic stripe and smart cards, as well as
card embossing, encoding, and personalization. It offers
plug-in libraries for all major industry-standard embosser
platforms and HSM types, making issuers independent
of any particular hardware vendor.
Within its framework, Way4 supports card renewals,
10 replacements, blocking, and more.
 Tariff Management (for example, a payment scheme or even of limits and expiration dates,
Way4 Issuing Start

an individual merchant that originated reversal, and more

When issuers create new products in the transaction).
Export of bonus points data to
Way4 Issuing Start, they can use preset
Way4 analyses the customer profile, external systemsfor redemption
configurations and rules for tariffs,
payment behavior, and transaction via the proprietary protocol
discounts, and fee calculation to manage
history, and certain system events before
product revenue and profitability. This
applying a fee. It is possible to calcu-
is especially important in the credit card
late tariffs and discounts at the time of
business, and here the Way4 engine
authorization as well as to recalculate
provides wide capabilities.
discounts at the end of a billing cycle.
Way4 users can manage different tariff
Way4 also allows configuration of transac-
plans for various client segments, regions,
tion and miscellaneous fees, both one-off
and categories. It is possible to create
and recurrent.
tariff handbooks for this in Way4.
The system provides issuers with the
tools to set up contract-, product-, and Loyalty Schemes
transaction-level pricing. Most trans-
action parameters can be used as The Way4 Loyalty engine enables issuers
determining factors for fee calculation, to design and manage diverse loyalty
among them: programs for their cardholders. The
loyalty solution included into Way4
• Transaction type Start supports:
• Currency Automatic or manual delivery of loyalty
• Amount tier points b
 ased on business rules setup
• Channel
Bonus points lifecycle management:
11 Transaction counterparty parameters accrual, calculation, redemption, control
 Transaction
Way4 Issuing Start

Processing
WAY4 Issuing Start comes with the Validation rules checking Balance calculation
authorization, clearing and settlement At this stage, Way4 checks whether the At this step, Way4 calculates the resulting
interfaces to the following payment transaction belongs to the permitted card balance taking into consideration the
schemes: transaction set, and controls velocity charged fee,conversion of the amount to
parameters (transaction limits, PIN the account currency and other relevant
• Mastercard attempts counter and others). parameters.
• Visa
Security control Response forming
During the authorization process, Way4
The following are some examples of As a result of the authorization process,
carries out many essential security
security checks carried out by Way4: WAY4 can hold or release amounts,
checks. This includes verification of the
trigger events in the system back-end,
card number structure, card presence
• PIN send messages to the cardholder, and
in the database and in the stop list, data
• Cardholder verification values perform other actions. For chip cards,
integrity of card tracks, data validity, and
• EMV security checks WAY4 can create scripts and send them
many others.
onto the card for execution. These can be
Account state control For chip cards, this stage includes to change the PIN, reset the PIN attempts
verification of EMV security values, the counter, block the card, or block/unblock
This step consists of the account status
registration of offline operations and an application.
verification and account balance control.
results of the previous script execution,
12 and verification of signature cryptograms.
 Business
Way4 Issuing Start

Automation

Risk Management Group and individual Suspicious transactions reports

velocity control Payment schemes require all their
All the following fraud prevention require- Velocity control parameters specify members to report suspicious transac-
ments are covered by Way4: restrictions for authorizing various types tions. Way4 supports this requirement and
Product rules of transactions such as: gathers internal statistics on suspicious
transactions.
Issuers can set specific rules for • Maximum amount permitted for a
processing different types of transactions single transaction OpenWay’s Way4 Real-Time Risk Manage-
at the product level. ment solution lets financial institutions
• Maximum number of transactions
configure rules to detect and score suspi-
Stop list processing permitted for a channel
cious transactions, adjust authorization
The solution processes stop lists from • Maximum total amount of request responses, and automatically
payment schemes. Issuers can also set up transactions permitted for a period notify cardholders and bank staff. The
rules for processing Way4’s internal stop Issuers can define parameters, depending solution comprises:
lists. The system supports both auto- on operation types, transaction condi-
mated and manual transmission of the tions, channels, etc. It’s possible to • Flexible risk management rules
lists to the payment schemes. assign specific velocity control rules to • Extended authorization scenarios
an individual cardholder or to a group of • Online and offline risk monitoring
13 cardholders
 Accounting and Flexible fee,discount and Flexible Way4 authorizationscenarios
Way4 Issuing Start

penalty rules
General Ledger Stand-in functionality
Funds activity monitoring For more information, please refer to the
Issuers can use Way4 as an accounting Way4 Core Banking Interface brochure.
system for their card processing. The Flexible replenishment rulesand
system automatically keeps track of delinquency accounting
all fund transfers on the general ledger
level. Issuers can also carry out detailed
• Various repayment priorities Dispute Management
• Various overdue payment penalties
analytic accounting for a selected group Manual origination of dispute cases
of products while offloading transaction • Transferring bad debt data
through IPS online platforms
information for others. to a collection system
Full-fledge dispute managementvia
Standard Way4 accounting Bad debts reserving
APIs to the IPS online platform, option
facilities include: Creationof principal accounting reports available with an additional license
Multi-currencysupport In Way4, issuers can set up their For more information, please refer to the
accounting procedures in accordance with Way4 Dispute Assistant brochure.
Balance and off-balanceaccounts
the requirements of their central banks.
Technical accounts
To enable the information exchange
Flexible billingand payment between Way4 and the core banking
cycles configuration system (CBS), users of Way4 Issuing
Start rely on the Way4 H2H protocol.
Various chargeand revolving
The interface supports:
credit schemes, instalments
Invoices Online and offline data interchange
between Way4 and CBS
Various interestaccrual schemes
Online check of account
14 Event-basedaccount operations balancesin CBS or Way4
 Open
Way4 Issuing Start

Platform

Digital Banking
Whether you choose the digital-only strategy or the
omni-channel 360-degree customer service model,
you can utilize Way4’s channel solutions.
Alternatively, you can integrate with third-party
digital channels. Way4 Issuing Start comes with
a basic set of APIs (web services) for card and
contract management. A standard package of APIs
can be extended per request. The Way4 API library
includes more than 700 different web services.

Open Banking
Way4 Issuing Start includes a basic set of APIs
to enable the your card to be used within the open
banking ecosystem. This includes APIs for access
to account and transaction initiation from the
15 third-party services.
 Solution
Way4 Issuing Start

delivery
Way4 Issuing Start

Implementation of the solution

takes approximately 2 months from
scratch and does not interrupt
16 your current operations.
 Solution The OpenWay team conducts a gap analysis together
Way4 Issuing Start

with each client to design the Way4 Issuing Start

Delivery
delivery plan. Implementation of the solution takes
approximately 2 months and does not interrupt the
client’s ongoing operations.
You can choose to deploy the solution on-premises
or in the cloud.

Project Discovery & Solution Standard Integration Solution Migration & Transfer
Scoping Gap Analysis Build Solution & UAT Tailoring & Go-live to Support
Delivery Certifications
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 Solution
Way4 Issuing Start

Expansion

When your payment business is ready • 3-D Secure ACS To see the list of features available within complete
edition of Way4 Issuing in comparison with Way4
to expand and transform beyond Way4 • Multi-currency card Issuing Start, please refer to the next chapter.
Issuing Start functionality, you can
• Tokenization and m-commerce: QR, For information on Way4 Issuing,
purchase a license for the complete NFC (OEM, Apple Pay, Samsung Pay, please visit our website.
edition – Way4 Issuing. The upgrade does Google Pay), HCE
not require re-installation or reprogram-
• Digital wallet & e-money
ming. The complete edition will preserve
all your existing system settings and • Instalment Club Card
provide new features of your choice, • Fleet and loyalty solutions with
18 including: level-3 data analytics, and more.
 Way4
Way4 Issuing Start

Issuing Start
Editions
Way4 Issuing Start

19 Compare Way4 Issuing Editions

Way4 Issuing Start

ISSUING START ISSUING COMPLETE

Any type of payment account,

Credit (revolving, instalment),
TYPE OF CARD PRODUCTS including loyalty, e-money
debit, prepaid, corporate
and digital wallets

Multi-currency ✓ (limited) ✓
Card brands Visa, Visa, Mastercard,
Mastercard Amex, Diners Club,
JCB, UnionPay,
local card brands,
private label
Card interface Magnetic stripe, EMV Chip, contact- Any, including digital-only
less
Data preparation, card personalization ✓ ✓
Instant issuing ✕ ✓
Digital card issuing In a form of a virtual card ✓

CUSTOMER MANAGEMENT

Customer service interface Preset Configurable

Product tariff management Preset Configurable

20 Contract hierarchies ✓ (limited) ✓

Way4 Issuing Start
Card product configuration Preset Configurable
Multiple financial institutions ✓ (limited) ✓

BUSINESS AUTOMATION

Customization of forms & screens ✕ ✓

Reporting & statements ✓ (limited) ✓
SMS notifications of cardholder ✓ ✓
Accounting & GL Standard Configurable
Intelligent back-dated processing ✓ (limited) ✓
Disputes resolution Manually via IPS online platforms Dispute management
(including APIs to IPS
dispute platforms)
Core banking interface ✓ ✓

SECURITY SERVICES

PIN Set, PIN Change ✓ ✓

3-D Secure ACS 2.x ✕ Many SCA methods

TRANSACTION PROCESSING

Smart authorization rules ✓ ✓

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Way4 Issuing Start
Real-time risk management Standard Configurable
Types of operations Preset Configurable

OPEN BANKING SUPPORT

Access to account and Preset list of web services Rich API library
transaction initiation APIs

DIGITAL BANKING SUPPORT

Integration with digital banking systems Preset list of web services Rich API library
Digital channel solution ✕ Digital channels, wallet

VALUE-ADDED SERVICES Standard loyalty program Advanced loyalty

DEPLOYMENT OPTIONS On-premises / Cloud On-premises / Cloud

AVAILABILITY 2 hours downtime twice per year High availability with zero downtime

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 Want to
Way4 Issuing Start

know more?

Thank you for your interest in our

solutions. To learn more about WAY4
Issuing Start and WAY4 software solutions
or contact an OpenWay office near you or
visit our website www.openwaygroup.com
and other resources:

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Way4 Issuing Start

www.openwaygroup.com

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