MYHSM unites with Compass Plus to elevate Cloud-based infrastructure

Seeking to elevate the reach of its Cloud-based infrastructure, MYHSM has partnered with Compass Plus, an international provider of retail banking and electronic payments software to processors and financial institutions.

The partnership aims to offer fast and flexible project implementation which is crucial within the payments industry for both fintech start-ups and established tier 1 banks. 

John Cragg, CEO at MYHSM, commented: “Payment HSMs are an essential asset in securing the payments system, but they are expensive and complex to own and operate. It’s a huge cost burden that both fintech start-ups and banks want to avoid and that is why we are seeing a growing demand for flexible Cloud-based services. 

“It is key for MYHSM to work with strategic partnerships to change the way the industry consumes HSMs and deliver the benefits of a Cloud payments strategy. It is great to work with Compass Plus a forward-thinking, dynamic company that puts innovation and the customer at the centre of their focus.”

It comes as the ability to go from concept to testing to full production in a compliant manner in a matter of weeks is critical to stay ahead of the competition and demand.

The model can either be implemented for organisations running payment solutions in-house or in a Cloud service environment such as AWS, Azure or Google.

“Unlike traditional payments platforms, TranzAxis is not just cloud-enabled, it is cloud-native, with a variety of built-in features and functions that are readily accessible at the click of a button,” commented Maria Nottingham, EVP at Compass Plus. “We have been successfully enabling cloud deployments since 2014 and truly understand the benefits a cloud-based infrastructure can bring. 

“Partnering with companies like MYHSM, who fully embrace the latest technological advancements, is a natural and logical extension of our cloud deployment offering, enabling our customers to take full advantage of everything cloud-based infrastructures are able to deliver.”