Australian payments automation provider Monoova has tapped edge cloud platform provider Fastly to provide it with enhanced transaction security for the company’s client base.
Since it was launched in 2017, Monoova claimed its proprietary payments platform handles millions of transactions each month and the processed transactions are worth more than $100 billion.
Monoova chief technology officer Nicholas Tan said the decision to deploy Fastly was made following a comprehensive proof-of-concept (POC) trial during which the platform’s performance and scalability were closely examined.
“The POC demonstrated that Fastly could deliver the reliability that we required to support our rapidly growing client base,” said Tan. “We were particularly impressed by Fastly’s capabilities in the areas of both API and web application security as well as in its DDoS (Distributed Denial of Service) protection and SOC expertise.”
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“Fastly has become our new front door. It handles everything from our API and payments traffic to our public-facing website.”
Robust security
Tan said Fastly was also judged to be the most appropriate security platform for Monoova because of its support for multi-cloud environments.
Monoova delivers payment processing services using a hybrid environment comprising private virtual cloud, public cloud, and third-party cloud resources.
“Fastly allows us to aggregate those resources into a combined management view which is a significant benefit for us,” said Tan. “It gives us a control plane on which we can view all our resources regardless of where they are running.
“For our clients, this means they can have access to our secure platform and digitise their entire payments process without needing to introduce any additional manual processes in their back office. Indeed, electronic payments are becoming increasingly instant, which is good for both businesses and their clients.
“With Fastly, we know we have a secure, high-performance platform that can support this exciting evolution.”
Future growth
The deployment of Fastly will see Monoova also support traditional payment systems such as BPay and Direct Debit. Monoova also uses new payments platform services such as PayID and PayTo.
Currently, an estimated 10% of all PayID merchants are registered with the company, as well as facilitating more than 70% of PayTo’s active agreements in FY23.
“Companies who bring innovation to their industry align culturally with Fastly's mission to make the Internet fast, safe and engaging. We are excited to see Monoova take advantage of the resilience, security and flexibility Fastly brings to organisations and look forward to supporting future growth of Monoova’s platform in 2024 and beyond,” said Fastly area vice president for ANZ Direk Rast.