Card Processors Add New Rails as Customers Go Global
The card-issuing platforms that grew up alongside, and serving, FinTechs are following their customers into businesses that have little to do with issuing another card. There is a common commercial calculation across several examples. Once a company is plugged into a customer’s payments operation, card processing is only one place to generate business. At the […] The post Card Processors Add New…
Card processors that initially focused on issuing cards are expanding their services to meet customers' needs in global markets. Lithic, for instance, partnered with Monavate to combine their processing technology with regulated issuing, network memberships, BINs, and settlement. Another partnership with Lightspark allows Lead Bank to issue a Visa card with settlement in USDC.
Marqeta has also seen significant growth, processing $120 billion in Q2, up 32% year-over-year, with international volume reaching 20% of total processing. Marqeta is expanding its services to include ACH, real-time payments, push-to-card, and wire capabilities in various countries. Commercial customers increasingly seek multiple payment rails through a single platform.
Expansion into international markets and other payment methods allows issuer processors to offer a broader range of services, such as accounts, merchant acceptance, risk services, and new forms of settlement.
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