Case Study: Banesco advances digital payments growth in Latin America with OpenWay’s Way4 platform

Banesco ranks third in Panama issuing and expands POS leadership with OpenWay

Banesco, one of the largest acquirers and issuers in Panama, aimed to become a key regional payment processor and expand its services to other financial players and fintechs. Its challenge was to update its technological stack to sustain market growth and build complete digital payment ecosystems for individuals and businesses. To meet this challenge, the company selected the Way4 digital payments platform from vendor OpenWay after an exhaustive evaluation.

The solution implemented was the robust, stable, and scalable Way4 platform, which is cloud-agnostic and enables the entire payment ecosystem to be APIfied. This allows Banesco to provide multiple virtual and physical services. As a result of the migration to Way4, Banesco is positioned to focus on digitalization, open banking, and partnerships with fintechs. The implementation by OpenWay supports the customer's vision to ensure any payment made in Panama goes through them.

Banesco