MYHSM by Utimaco, today announces its Payment Hardware Security Modules (HSM) as a Service is now available in AWS Marketplace. Customers can now directly connect to and deploy the MYHSM Service, providing Financial Institutions around the world with a full-cloud, multi-cloud or hybrid cloud payments strategy.

MYHSM is the first multi-vendor Payment HSM Service provider offering a globally accessible, fully managed, Payment Card Industry (PCI) PIN and PCI DSS certified service using HSM manufactures such as Utimaco Atalla AT1000 and Thales payShield 10K.

Accenture notes the significant growth in cloud investment is predicted to continue and expand at a rate of around 15% through 2022. And the surge in public cloud adoption fuelled by Covid-19 to drive digital transformation and online transaction processing has seen many financial services accelerating their own cloud strategy.

The announcement marks a significant development for the industry, since until now, users of Payment HSMs have had no alterative option but to operate and manage the hardware on-premises or co-located with a data centre provider – both restrict a full cloud adoption strategy. According to 451 Research data, 69% of financial companies utilise AWS, and these can now integrate their payment applications with MYHSM’s fully managed Payment HSMs Service providing a fast, compliant, and cost-effective solution to test their applications.

MYHSM provides the same level of elasticity and flexibility as cloud service providers enabling customers to effortlessly scale their payment HSMs usage in line with business volumes for a dynamic subscription fee. A group of HSMs are deployed in geographically separate data centres providing 99.999% availability and can be accessed via a dedicated customer portal.

Available as a Test, Shared, and Dedicated fully managed service, MYHSM connects customers seamlessly to a group of cloud-based Payment HSMs to secure tasks such as PIN protection and validation, transaction processing, mobile and payment card issuance, and key management.

Eyal Worthalter, VP Platform Solution and Growth at MYHSM, said: “With our dedication to provide Financial Institutions and FinTechs with a cost-effective, efficient and flexible means of using Payment HSMs, this is a natural and logical development in our mission to drive Payment HSMs as a Service.

“MYHSM’s listing in AWS Marketplace will make it possible for Financial Institutions and FinTechs to operate independent of legacy infrastructure and reduce the complexity and cost of managing and operating Payment HSMs. With a fully managed service customers can be set up in days and can focus on their core business with SME’s responsible for the service, security, and system maintenance.” he added.