Chile-based card processor Nexus has gone live with OpenWay’s Way4 payments platform.
Nexus has implemented the brand-new processing platform and the associated business processes, after the strategic decision to expand its service offering in 2015.
Nexus already has almost 10 million credit cards portfolio and processes over 65% of credit cards transactions in Chile, such as Visa, MasterCard and Amex-branded cards.
Nexus believes that the decision to diversify into prepaid card authorization and processing business, has a significant potential to increase the dynamics of the Chilean card market.
Nexus CEO Gabriel Cifuentes said: "We have chosen WAY4, convinced that we are going to deliver the most complete and functional solution to the market – both efficient and flexible – which is going to be the base of our new value added offer.
"Obviously we do have high expectation on the impact that this new offering will have a strong repositioning of our services."
Nexus is considering a phased migration of its entire credit card processing to WAY4, starting with the first wave of pilot banks in the second quarter of 2017.
"The WAY4 platform is easy and cost-effective to customize for new products, which was a real plus-point for use in selecting the solution," Cifuentes added.