JIVF selects OpenWay to become a consumer finance leader in Vietnam

• JACCS International Vietnam Finance Company Ltd. (JIVF) is a Japanese consumer finance company in Vietnamese, credit card players in the Vietnamese market. It has chosen OpenWay’s Way4 payment software solution as a key step in achieving its goal of becoming a leader in Vietnam’s consumer finance market, providing attractive credit programs in collaboration with local and global brands.

• OpenWay is a global provider of the award-winning Way4 digital payment software platform, which has gained recognition in the Vietnamese market and worldwide. Way4’s digital payment solutions for card issuance, merchant acquisition, transaction switching are relied upon by hundreds of 1/2 tier banks, processing companies and fintechs.

• The JIVF migration to Way4 is expected to be completed in a few months. Way4 will help JIVF deliver individual and corporate credit card products, BNPL services, launch digital wallets, and ensure a digital-first customer experience in consumer financing with accelerated time in Vietnamese.

BRUSSELS, March 14, 2023 /PRNewswire/ — JIVF has selected digital payment software platform Way4 which aims to develop the most competitive, innovative and attractive credit programs in the Vietnamese market.

JIVF entrusts its partnership with OpenWay given its global and deep leadership and experience Asia region and rely on Way4, OpenWay’s best-in-class digital payment software solution. The successful OpenWay project was launched in Asia including the BNPL solution with LOTTE Finance, Timo, an API-based digital bank launched on the AWS cloud in just 4 months, and SmartPay, a successful financial inclusion wallet with over 650,000 merchants and 40 million users. As a modular and highly configurable platform, Way4 enables clients to build highly personalized credit products with flexible implementations: on-premises, in the cloud, or as a dedicated SaaS. Way4 payment software is used globally and can be deployed on major cloud platforms: AWS, Microsoft Azure, Oracle Cloud (OCI) and others, as well as in private clouds. The Way4 platform for JIVF is the first OpenWay installation on Oracle Cloud Southeast Asia.

Way4 is an end-to-end solution with a unique online core, account and event management, dynamic pricing, automated workflows, card and wallet issuance management, merchant management, omni channels, authorization and settlement, modern API and IPS interface. So, this will enable JIVF to manage the full lifecycle of their payment products and offer a super online customer experience. OpenWay offers JIVF a variety of options to help JIVF optimize their operational costs, including managed services and end-to-end technical operations for JIVF. The agile teams of the two companies will work closely together to create competitive products and a co-branded credit program with personalized, rewarded installments. With the Way4 platform, the JIVF team can quickly launch innovative card products, create new partnership campaigns, and respond to growing consumer demand for credit.

Mr. Taniguchi NoboruDirector General, JIVF:

“We believe that in order to become a leader in a new market and maintain your leadership, we need to work with trusted leaders. We have chosen OpenWay because it is very important to us the high quality of the Way4 platform, fast time-to-market, successful experience of OpenWay globally and locally, excellent client service, and high operational efficiency In addition, the OpenWay team has demonstrated in-depth technological knowledge and advanced expertise that will help us grow our credit financing business and respond to the high demand for credit products from our customers in the world. Vietnamese.”

Mr. Nguyen ManhhaDirector General, OpenWay Vietnam:

“Consumer credit has shown strong growth in the Asian region, and OpenWay’s role is to assist financial institutions and fintechs with the best payment solutions to create competitively differentiated products. We are excited to partner with JIVF and are fully committed to delivering the best in class. payment technology and contribute to the company’s strategic goals. OpenWay leadership globally and within Vietnamese over 15 years by helping us meet JIVF’s high standards and ensuring that JIVF will receive the best possible support in achieving its goals.”

About JACCS

JACCS (Japan Consumer Credit Service) was established in June 29, 1954 Hakodate, Japan. The main business activities of JACCS are Credit Business, Credit Card and Payment Business, Financing Business, Overseas Business.

In Overseas Business, JACCS held Vietnamese in the June 2010 as JACCS International Vietnam Finance Company Limited (JIVF), a company regulated and established under the law Vietnameseheadquartered on Floor 15, Centec Tower, 72-74 Nguyen Thi Minh Khai, Vo Thi Sau Warddistrict 3, Ho Chi Minh City, Vietnam. JIVF leveraged its position as a Japanese-owned company to strengthen its member store network, centered on dealers for Japanese motorcycle manufacturers. JIVF has expanded its operations to include financing for cars and equipment as well as credit cards, card loans and other consumer loans, contributing to Vietnamese economic progress. JIVF aims to provide customer credit for installment sales with a trustworthy service and a network of member stores with the aim of delivering to customers in a fast, inexpensive and courteous manner.

About OpenWay

OpenWay is the only provider of best-in-class digital payment software solutions, and the top provider of cloud payment systems rated by Gartner, Omdia, Aite and PayTech. Its Way4 platform is used by Tier 1 and 2 banks and processors, as well as ambitious fintech startups. Among them are Nexi, Worldline, Finaro, Payoneer and other leading paying players worldwide. Way4 innovations support card issuance, A2A payments, e-commerce and POS acquisition, digital wallets, and payment transfers.

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SOURCE OpenWay