Evervault enters the payments space with new security platform

By Gloria Methri

Data security company Evervault has 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 compromising compliance or security. This enhanced flexibility empowers companies to accelerate their business growth, geographic expansion, and product development.

The platform uses Evervault’s encryption model and includes tools for securing payment 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 of 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.

“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 an immediate impact. Having control over their payment stack helps customers worldwide optimize payment costs, authorization rates, and user experiences. Companies are already using the platform to expedite the security and compliance requirements of launching a card product, improve payment economics, and share 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.