Evervault Debuts Modular Payment Security Platform to Give Customers More Flexibility and Control
May 16 2024 - 4:00AM
Business Wire
- Evervault launches into the payments landscape by applying
their advanced encryption model to payments security
infrastructure.
- The platform offers the highest optionality and security to
customers, giving them full ownership over their payment stack with
minimal compliance burden.
- As payments become increasingly global and digital, offering
greater flexibility empowers companies to enter new markets and
launch new credit cards with ease.
Today, Evervault, the pioneering data security company, launched
into the payments space with an independent payments security
platform. The modular platform gives fintechs, banks, and merchants
total control over their payment stack, without sacrificing
compliance or security. This enhanced flexibility empowers
companies to accelerate their business growth, geographic
expansion, and product development.
The platform uses Evervault’s unique encryption model and
includes tools for securing payments data, as well as specific
product extensions like Network Tokens and Card Insights.
Traditionally, products like Payments iFrames, 3D Secure, fraud
prevention, tokenization, and processing are bundled with your
payment processor. By unbundling these components, Evervault offers
customers modular infrastructure that’s independent from their
payment processors, allowing for greater control over their
payments with minimal compliance burden.
This flexibility is critical as payments become increasingly
global and digitized. Businesses seeking to expand need a reliable
partner that can facilitate cross-border transactions and serve
less established markets. The proliferation of payment processors
has also resulted in natural, downward pricing pressure, spurring
demand for independent payment components that allow companies to
reclaim their payment data.
“Given the shifting payments landscape and the extreme
sensitivity of card data, there was an obvious and powerful
application for our technology – a secure, customizable and fully
independent platform for payments,” said Evervault Founder and CEO,
Shane Curran. "Our solution will give fintechs, banks, and
merchants the flexibility they need to build more capable and
efficient businesses.”
Evervault customers who have integrated the platform with their
payment infrastructure see immediate impact. Having control over
their payment stack helps customers worldwide optimize payment
costs, authorization rates, and their user experiences. Companies
are already using the platform to expedite the security and
compliance requirements of launching a card product, improving
payment economics, and sharing card data securely.
“By taking control of our payments stack, we were able to route
our payments more efficiently and drastically improve our
authorization rates,” said Liam Wiltshire, Head of Payments of
Overwolf, a platform for monetizing in-game apps and mods.
The launch of this payment security platform is part of
Evervault’s mission to make world-class data security effortless
and reflects their ongoing efforts to deliver user-friendly,
resilient infrastructure that safeguards sensitive information,
while accelerating business impact.
About Evervault
Evervault is an innovative data security company that transforms
security and compliance infrastructure into a competitive
advantage. Companies worldwide trust Evervault to secure their
payments stack. Founded in Dublin in 2019, Evervault is backed by
leading investors: Sequoia, Index Ventures, and Kleiner
Perkins.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240516873823/en/
Cesca Fleischer, press@evervault.com