Utimaco, a provider of IT security solutions, has announced Clowd9 has selected it as a service provider for a cloud-based Payment Hardware Security Module (HSM). Clowd9 was launched as the world's first cloud-native, decentralized payments processing platform in October.
Fintechs, processors and banks alike have a lot of choices today when it comes to deploying their payment applications in the cloud. But there's a problem with the mission-critical Payment HSMs, as none of the public Cloud Service Providers on the market today can support them directly.
However, Utimaco's MYHSM Payment HSM-as-a-Service complements a complete cloud adoption strategy like that of Clowd9, with 99.999% availability as standard and very low latency regardless of where it is deployed around the world.
Payment HSM-as-a-Service significantly reduces cost, complexity, and time to market but also provides access to deep expertise in Payment HSMs and payments-related cryptography, an increasingly rare but essential resource for any company operating in the payments space.
Additionally, Utimaco's MYHSM Payment HSM-as-a-Service removes all of the heavy lifting, to meet PCI compliance by providing immediate access to a fully PCI-PIN and PCI-DSS certified service.
Clowd9's platform has been designed to be the most efficient and data-rich processor enabling real-time payments worldwide across all payment methods, be it traditional cards, bank transfers, QR codes, biometrics or Crypto.
The business has an extensive team of seasoned payments experts and cloud engineers. This expertise has helped the team build a truly global, modern solution for the industry - in an area lacking innovation - that deconstructs complex legacy payment ecosystems while rethinking and redesigning them in the cloud.
“I am delighted with this partnership between Utimaco and Clowd9. With our MYHSM solution, we are pioneers as a Payment HSM-as-a-Service provider globally and a true business enabler, helping leading edge companies like Clowd9 bring their ideas to market. Under the visionary leadership of Suresh Vaghjiani, together with the world-class team of people that support him, Clowd9 is extremely well positioned to disrupt the industry and offer a truly unique set of products and services, with Utimaco supporting that as an integral component,” says Darren Busby, Global Head of Sales MYHSM, Utimaco.
Utimaco is a global platform provider of trusted cybersecurity and compliance solutions and services with headquarters in Aachen, Germany, and Campbell, U.S.
Utimaco develops on-premises and cloud-based hardware security modules, solutions for key management, data protection and identity management, and data intelligence solutions for regulated critical infrastructures and public warning systems.
Meanwhile, Suresh Vaghjiani, CEO, Clowd9, adds, "We’ve worked incredibly hard and assembled the very best expertise to build a new generation processing platform to better serve the banking and fintech industry. With the support of Utimaco’s MYHSM Payment HSM-as-a-Service, we are well placed to push the envelope on payments processing in the cloud and are pleased to have found an equally future-led partner.”