Stockholm, Sweden – Verisec International AB today announces that its 10XPay Payment Cryptography as a Service (PCaaS) platform has been officially approved by the Groupement des Cartes Bancaires as a cloud-based Payment HSM Service.
The approval, granted on March 17, 2026 and valid for a period of two years, confirms that 10XPay meets the security, operational, and governance requirements defined by the CB card scheme members. The scope of the approval includes transaction acquiring, data preparation for digital card issuance, point-to-point encryption (P2PE), and cardholder authentication, as well as issuer authorization for digital and virtual cards.
Alignment with one of Europe’s most rigorous payment schemes
Cartes Bancaires represents one of Europe’s sovereign payment schemes and one of the most established and rigorous domestic payment schemes on the continent, setting security expectations in the French market and beyond. Approval within this framework provides assurance that 10XPay is aligned with the requirements of institutions operating in highly regulated payment infrastructures.
A Payment Cryptography as a Service alternative to traditional HSM environments
The approval of Cartes Bancaire further establishes 10XPay position as a flexible and agile alternative to traditional on-premises Hardware Security Module (HSM) environments. The platform enables financial institutions, payment processors, and fintech organizations to access secure cryptographic services without the need to deploy and manage dedicated physical infrastructure.
By delivering payment cryptography as a service, 10XPay PCaaS allows organizations to simplify key management, support integration with existing payment applications, and reduce the operational and compliance burden associated with maintaining in-house HSM estates – while remaining aligned with evolving industry standards. For organizations not yet ready for a full cloud transition, the platform’s hybrid architecture also supports a phased migration path – protecting existing investments while unlocking the agility of cloud-based cryptography at their own pace.
Strengthened assurance through Foregenix collaboration
“Cartes Bancaires approval is more than a certification; it is a signal. When one of Europe’s most demanding payment networks formally validates Payment Cryptography as a Service as fit for purpose, it sets a new benchmark for a financial institution evaluating whether it’s time to move beyond on‑prem HSM. We built 10XPay to make that transition possible without compromise, and the French approval confirms that its architecture and controls deliver the level of rigor the market demands.” Dimitri Binazzi, Chief Security and Compliance Officer at Verisec
As part of the approval process, Verisec worked in collaboration with Foregenix, a recognized cybersecurity and PCI assessor, to further strengthen the assurance framework around the platform.
The collaboration covered multiple assessment meetings to review documentation, observe systems, configurations, and processes, as well as conducting extensive technical interviews to understand and document the robust security controls designed and implemented within the 10XPay platform.
This extended scope of review provides additional third-party assurance beyond existing certifications (PCI DSS PIN and P2PE), supporting confidence in the robustness and resilience of the platform.
Foregenix commented on the achievement:
“Cartes Bancaires Payment Cloud HSM approval is a significant achievement in Verisec’s continual certification journey across all relevant industry standards and certifications for cloud HSM and HSM as a Service solutions, and demonstrates the commitment of the team to strive to surpass all security control requirements for the solution. Working from inception of the concept to seeing the robust and resilient solution being certified and accepted into industry is a source of pride for Foregenix, and demonstrates that our collaborative work with our customers delivers excellent results. We want to congratulate the Verisec team on this outstanding success. Foregenix is committed to supporting the certification of clients in exciting new standards, and we thank Cartes Bancaires for the trust placed in our technical assessments and the support provided during this process.” Daniel Farr, VP of Compliance and Risk Services at Foregenix
Supporting the shift to Payment Cryptography as a Service
The approval reflects a broader shift in the payment industry towards cloud-based cryptographic services that can deliver both scalability and compliance. As regulatory expectations evolve across Europe, financial institutions are increasingly seeking solutions that combine operational flexibility with proven security assurance.
10XPay addresses this requirement through a cloud-native architecture designed to support secure multi-tenant environments, strong tenant isolation, and resilient operational models. The platform is built to integrate with both modern and legacy payment systems, enabling organizations to modernize their cryptographic infrastructure without disruption.
A continued commitment to payment security
With Cartes Bancaires approval, Verisec reinforces its commitment to meeting the highest standards of payment security while supporting the industry’s transition towards managed, cloud-based cryptographic services.
About Verisec
Verisec is a European-headquartered cybersecurity company specializing in cryptographic security solutions for payment, identity, and digital trust. Through its 10XPay platform, Verisec enables financial institutions and payment providers to securely manage cryptographic operations at scale in cloud and hybrid environments.
