TechDogs-"Evervault Debuts Modular Payment Security Platform To Give Customers More Flexibility And Control"

Software Development

Evervault Debuts Modular Payment Security Platform To Give Customers More Flexibility And Control

By Business Wire

Business Wire
Overall Rating
  • 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.

DUBLIN & LONDON--(BUSINESS WIRE)--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.

Contacts

Cesca Fleischer, press@evervault.com

First published on Thu, May 16, 2024

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Evervault Payments Security Encryption Software Fraud Prevention Data Security Payments Stack

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