News

Equens tops 11 million transactions/day using WAY4

June 14, 2012

OpenWay Group, a developer of software solutions for issuing and acquiring bankcards, payment processing, remote banking service and financial transaction routing, announced that Equens SE, a pan-European payment processor, is now processing 11.8 million POS and ATM clearing transactions per day using the OpenWayWAY4 card and merchant management platform. This total compares with a peak of 2 million transactions per day processed by Equens in 2010.

The acquisition of new, large-volume merchants accounts for much of the increase for Equens, which now serves approximately half a million merchants across Europe. Another driver has been the implementation of SEPA, the The Single Euro Payments Area initiative of the European Union for simplification and harmonization of bank transfers. As a result of SEPA, the Netherlands has been migrating from a local debit scheme to the international Maestro product.

Equens’ migration from legacy software to WAY4 in 2008 has allowed the processor to improve its infrastructure and accelerate business growth. ATM and POS clearing transactions processed on the WAY4 platform include accounting transactions, fee calculations, transaction validations and currency conversions.

"We are very grateful to Equens who proved WAY4 suitable for the most demanding business and who allows our software to set up new records every year," said Wim Pardon, managing director of OpenWay EMEA.

For more on this topic, visit the transaction processing research center.