Organizations are moving towards cloud based computing for payment transactions, where on-demand network access to a common pool of computing resources e.g. servers, storage and applications that can be swiftly provisioned with minimal effort and service provider interaction, to facilitate payment transaction handling.

According to Gartner, Inc. worldwide public cloud services market is projected to grow over 16% in 2016 to total $204 billion. Cloud application services (SaaS) is forecast to grow over 20% percent in 2016, to $37.7 billion. As major solution vendors shift their business models from on-premises licensed software to public cloud-based offerings, this trend will continue.

Software as a Service (SaaS) model is the common model available for payment transaction handling with the capacity provided to the acquirer, processor and merchant transaction processing entities to use the payment and security applications running on a cloud infrastructure.

Secure Transaction Cloud solution

NewNet’s Secure Transaction Cloud (STC) solutions offer NFV based virtualized secure payment applications with a broad range of Virtual Networks Functions (VNF) including:
• TLS, IPsec, SSH, and HTTPS for added Security
• ISO8583, TPDU, VISA, XML, and P2PE Transaction Protocols
• Tokenization
• Host Interfaces
• Load Balancing
These virtualized capabilities allow the solution to support the full plethora of payments including internet payments, mobile payments, POS based transactions which are IP/Mobile access based and all forms of ecommerce and mcommerce payments with PCI standards compliant security.

With virtualized payment and security functions operating in the cloud infrastructure along with cloud based HSM, the security of the solutions remains the highest as stipulated by the standards bodies, with the strongest encryptions using long length keys, and crypto operations being handled completely within the HSM boundaries. REST/JSON which follow the SOA model and used by web service-based software architectures are used for integration purposes of the NST payment application with cloud services and also for service orchestration.