Checkout.com

Checkout.com, a fintech startup known for its payment processing product, has launched a new product that allows its customers to create payment cards for their own customers. Called Checkout.com Issuing, the product has been tested for some time and has already generated millions of cards. It offers physical and virtual cards, which can be used multiple times or can be disabled automatically after the first payment.

Checkout.com Issuing requires fewer integrations with third-party companies compared to other fintech companies. This means that customers can easily create custom rules to automate fund movements, enabling the correct amount of cash to be behind a specific card.

The product presents a business opportunity for fintech companies. When someone pays with a card, the card transaction fees are divided between the merchant’s bank, the card scheme (such as Visa or Mastercard), and the card issuer (in this case, Checkout.com). The company will split its portion of the interchange fees with its own clients.

Checkout.com Issuing is built on open, flexible APIs that enable businesses to create purpose-built card programs, enhance cash flow, and unlock new revenue opportunities, according to the company’s CPO, Meron Colbeci.

On-demand companies like DoorDash or Uber Eats use cards issued by Marqeta and other companies. This allows their partners to buy groceries or food without using their own personal funds. Industries such as travel agencies, insurance companies, and expense management platforms are also using card issuing to make instant payouts across a wide range of merchants. As long as the merchant accepts card payments, the card can act as the payment interface.

By offering card issuing, Checkout.com has expanded its product offerings beyond payment processing. It is likely to be welcomed by businesses that want to offer payment cards to their customers but do not want to go through the hassle of building out their own card programs.

Mohmed Abdelaziz

A journalist and reviewer with extensive experience in programming and social media, he has a strong CV in the field of technology. You can contact him via e-mail: [email protected]

https://tcitnews.com

Leave a Reply