EPAM and OpenWay Form Partnership to Drive Digital Transformation in Payments Industry
NEWTOWN, Pa., 2016-09-13 16:00 CEST (GLOBE NEWSWIRE) -- EPAM Systems, Inc. (NYSE:EPAM), a leading global provider of product development and software engineering solutions, announced its global strategic partnership with OpenWay Group, an expert in digital payments and developer of the top-ranked WAY4™ platform.
WAY4 is a complete omnichannel digital payment and card processing platform, supporting digital wallets, private label and branded card issuing, as well as merchant acquiring, financial switching and channel management. WAY4 serves as a core platform for digital banking solutions, closed-loop or national payment schemes, and is deployed by tier-1 banks and payment processors across the globe.
Digital disruption has forced market leaders and new players to reconsider their business models, along with customer experience, technologies, and partnerships. By leveraging EPAM’s digital enterprise, system integration, and legacy system migration expertise and OpenWay’s market-leading payment platform solutions, the partnership will offer clients the benefits of digital finance and cross-industry expertise, excellent product and service offerings, faster time-to-market, and early adoption of innovations within a global scale.
“The rapid evolution of the payments marketplace is impacting many of our key vertical industries and our clients recognize the need for scalable, flexible, and easily integrated solutions that meet customer demands, regulatory changes and emerging competition from new market entrants,” said Arkadiy Dobkin, CEO and President, EPAM. “Combining OpenWay’s leading position in the payment systems market and our deep technology experience across various industries enables us to provide the next generation of complex payment platforms and solutions to our clients.”
“We see EPAM’s dedication to excellence in its agile software development process and proven ability to quickly deploy robust, well-rounded specialist teams from their extensive pool of software engineers and architects,” says Andrew Vereninov, CEO, OpenWay Group. “Innovation in the B2B and B2C payment space together with the mobile revolution is blurring the boundaries between industry sectors. We are keen to go beyond the financial sector and leverage EPAM’s expertise in retail and distribution, travel and hospitality, life sciences and healthcare.”
About EPAM Systems
EPAM Systems, Inc. (NYSE:EPAM), a leading global product development and platform engineering services company, is focused on delivering results through best-in-class software engineering, combined with innovative strategy, consulting and design capabilities. With 23 years of experience in theinformation technology industry, EPAM’s 18,000 people serve our customers in over 25 countries across North America, Europe, Asia and Australia. EPAM was ranked #8 inFORBES 25 Fastest Growing Public Tech Companiesand ranked as a top information technology services company onFORTUNE’S 100 Fastest Growing Companies.
Established in 1995, OpenWay Group is recognized as a leader in the provision of payment solutions by independent research agencies. Headquartered in Belgium, OpenWay has successfully delivered WAY4 to over 130 banks and payment service providers in Europe, Asia, North and Latin America, Middle East and Africa.
For more information, please visithttp://www.openwaygroup.com/.
This press release includes statements which may constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, the accuracy of which are necessarily subject to risks, uncertainties, and assumptions as to future events that may not prove to be accurate. Factors that could cause actual results to differ materially from those expressed or implied include general economic conditions and the factors discussed in our most recent Annual Report on Form 10-K and other filings with the Securities and Exchange Commission. EPAM undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities law.
EPAM CONTACT: Danielle Ruess-Saltz
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