Bankera’s License Sponsor Became a Principal Member of Visa Card Network
Becoming an issuer of payment cards has been one of our key objectives since starting Bankera. We have now successfully achieved this goal with our electronic money institution license holder Pervesk becoming the principal member of Visa card network. Direct membership in the Visa network will allow us to expand the variety of services offered for individual clients and digital businesses.
More stable solution
Several FinTech companies, including challenger banks and neobanks, usually start offering cards issued by third-party providers, moving to the full membership of card networks later on. While we have taken this path for SpectroCoin, the goal of Bankera is to build a financial service provider for digital businesses. Thus, we are starting to issue cards directly without wasting resources on third party integrations.
Being able to issue cards ourselves, we can offer more flexible, competitive and stable solutions, as boundaries and risks imposed by the middlemen will be eliminated. What is more, we will not have to change the issuer to chase better terms or integrate into third-party IT systems only to use them for a short period of time.
In the testing phase already
First plastic cards have already reached our office last Friday, and a group of our team members are actively testing them in real-life conditions, such as daily payments. As testing of cards and software is going according to the plan, we expect to offer cards to our clients already this month.
BIN sponsorship and co-branded cards coming soon
As we are building a financial service provider for digital businesses, the ability to issue co-branded cards and offer BIN sponsorships makes Bankera an attractive solution. Along with dedicated and virtual IBANs, white-label internet banking, and compliance solutions, card program allows Bankera to offer a flexible full-stack solution for our business clients.
Stay tuned for more information about the upcoming release of Bankera cards!
2 December, 2020