Vault Payments is a cloud-native payments processing platform designed to empower any bank to manage all payment types across various methods, schemes, and regions worldwide. It dynamically embeds both new and existing financial products into the payment platform, providing clients with comprehensive control over the payment lifecycle. Initially launched with support for card issuing and processing on the Mastercard network, Vault Payments is continuously expanding its capabilities to include additional card and account-to-account payment schemes. The platform features a single configuration framework that ensures unparalleled interoperability and accommodates a wide array of global payments and card schemes. Its robust configuration layer is logically separated from the platform code, enabling clients to construct bespoke payment flows and implement rules-based payment controls. Vault Payments also offers dynamic account routing, decoupling the payment instrument from the funding source, and integrates seamlessly with Vault Core to create innovative financial products. With its Universal Payments Engine, banks can process all payments through a single platform, streamlining observability and manual investigations. Vault Payments natively represents payments as ISO 20022 messages and supports real-time payments, allowing financial institutions to leverage schemes like FedNow, New Payments Architecture, and SEPA Instant. The platform is designed for 24/7/365 real-time processing, simplifying change management and offering rich data streaming capabilities for customer personalization.

Features:

• Single configuration framework: Vault Payments' configuration framework delivers unparalleled interoperability and accommodates a wide variety of global payments and card schemes.
• Dynamic account routing: Vault Payments’ rich payment routing functionality completely decouples the payment instrument from the funding source.
• Card issuing and processing: Vault Payments provides card issuing and processing support on the Mastercard network and will support Visa and other card networks over time.
• Integration with Vault Core: Vault Payments is available as a standalone product that can integrate with legacy core banking systems or can be deployed pre-integrated with Vault Core.
• Payment lifecycle: Vault Payments maximises straight-through-processing by automated decisioning based on bank-defined business rules and intelligent transaction matching.
• Universal Payments Engine: Vault Payments’ Universal Payment Engine allows banks to process all payments through a single platform, with observability and manual investigations managed in a single application.
• Support for real-time payments: Vault Payments, with its support for ISO 20022, allows financial institutions to take advantage of the improved customer experience offered by schemes such as FedNow (USA), New Payments Architecture (UK), and SEPA Instant (EU).
• Routing and migration: Vault Payments can integrate with any core banking system and dynamically route to any core based on a set of rules.