Hubshare

Damian Jeal, CEO
These days, with even the average Joe choosing mobile payment options for all their daily transactions, it is clear that digitization is the buzz de jour in the payments industry. The last few years alone have witnessed the convergence of multiple tech trends such as cloud and big data, among others, that have created new revenue streams and modernized the interactions between merchants and customers. This has, in turn, established a need for companies to revamp their payment infrastructure to attain speed, security, and global reach to deliver the user experience that customers demand today. Industry expert, Krishna Viswanadham, President of Secure Payment Transactions, NewNet Communication Technologies, highlights the relevancy of cloud migration in the face of rising demand for faster retail payments. “The advent of new payment methods has led to a substantial rise in the volume of transactions observed within the industry, and has been a huge impetus to this migration to cloud, further fueled by the significant investments flowing into the FinTech domain” mentions Viswanadham.

His company, NewNet Communication Technologies, plays a crucial role in this paradigm shift—by providing the latest and first in industry virtualized payment application in the cloud with high security for multi-channel payment transaction routing, switching and transport solutions. Additionally, NewNet fuels cloud migration by leveraging secure and reliable HTTPS and TLS transaction routing, TLS acceleration, protocol translation and load balancing for all types of IP, Web and mobile transactions. NewNet’s virtualized payment application facilitates tightly coupled API integration with mobile and web payment client applications, natively interfaces with dashboard, monitoring, and analytics applications, and fully leverages virtualized HSM in the cloud for advanced security utilizing Cloud HSM solution.

So the question that lingers is: How does NewNet flourish within the payment space?
The answer lies in its Secure Transaction Cloud (STC) solutions that help Fintech enterprises, cloud service providers, financial institutions, and others in the payment ecosystem. Speaking about the company’s offerings, Viswanadham mentions, “We would classify our solution capability into three broad categories–payment transaction routing, secure network access, and payment data security, and is offered in a uniquely integrated and virtualized manner in the cloud or captive deployments.”


“The advent of new payment methods has led to a substantial rise in the volume of transactions observed within the industry, and has been a huge impetus to this migration to cloud.”


Under the payment transactions routing, NewNet offers support for numerous transaction protocols that are prominent in the industry and translates them according to the architecture of the latest payment devices. The company efficiently coordinates various types of payment routing such as rule-based intelligent protocol routing, bank identification number-based routing, NII routing, to name a few. These routing processes maintain data integrity by assembling the information flowing through the public dial, broadband, and mobile networks. Furthermore, the IL-based firm has simplified the task of handling voluminous TLS sessions, and host system encryption processes by integrating hardware-assisted offloading and acceleration capabilities with the virtualized crypto modules available in the cloud.

Along with payment routing, NewNet’s secure network access safeguards transaction data and uses TLS protocols throughout the transaction trajectory with load balancing of payment transaction traffic and key network routing of the transaction sessions. By employing hardware-assisted offloading and acceleration capabilities coupled with virtualized crypto modules in the cloud, the IL-based firm handles transaction processes securely and accurately.

In essence, the organization’s payment data security function tunnels the endpoints involved with point-to-point encryptions, and ensures safe transaction between POS systems and host servers, and further enhances security through tokenization of cardholder data. This enhances the security for IP, Mobile, Web and dial-up POS systems by removing card data at-risk and replacing with random token. Also, the embedded PCI-DSS architecture in the NewNet solutions combines all the core functionalities into a single scalable, reliable, cost-effective solution whose operations range from HTTPS and TLS/SSL transaction routing to encryption acceleration and load balancing. The cloud technology further allows real-time reporting and management for security systems, supports resiliency with cluster-based redundancy, and effectively tracks data for billing and auditing. As a final touch, the PCI validation, with ongoing compliance review allows NewNet to integrate its core offerings into a single, unique solution.

Bolstered by its proven solutions and over 30 years of rich experience having strong legacy in payment security and networking domain with major deployments across the world, NewNet takes pride in effortlessly guiding its clients through a tricky pathway of confounding technology. In a typical client engagement, NewNet revamped the traditional platform of a Latin American payment acquiring, processing bank with STC application in advanced cloud architecture. By integrating their legacy payment network systems with its secure transaction routing applications, NewNet was able to create cost-effective payment transaction network solutions for the bank.

With innovation at its core, NewNet aims to script many such success stories in the years to come. Looking forward, NewNet aims to evolve its application platform continuously to incorporate the latest industrial advancements and channel its growth in terms of IoT-based and B2B payments and reach out to customers on various payment platforms like WhatsApp, RCS based messaging applications, and the like. “Today, we are available on Amazon Web Services and can also deploy solutions in a private cloud, depending on customers’ requirements. We can have the application easily deployed on other cloud platforms like Google Cloud, Alibaba Cloud, Oracle Cloud with Cloud HSM (virtualized crypto module) and also trying to make the application available in various other cloud platforms like, Azure, or IBM Cloud,” concludes Viswanadham. It will be interesting to see how efficiently NewNet upgrades itself to make its solutions ubiquitous.

Company
Hubshare

Headquarters
London, England

Management
Damian Jeal, CEO

Description
Hubshare is a privately-owned software company within the Nikec Solutions Group, providing secure file sharing, team collaboration, extranets, and project management software. The business has customers in the legal, accounting, and corporate sectors. Its product was originally created by Nikec Solutions in 2012 with the birth of Nikec Docstore, a file-sharing platform. In 2015 the platform was enhanced to add Nikec Hub, a secure extranet platform. In 2018 the two platforms merged to form the Hubshare platform, and Hubshare Solutions Ltd was formed. They have offices in the UK, France, and Hong Kong, distributors in Australia and North America and resellers in many other countries globally