With the addition of card issuing to its list of services, Checkout.com is moving into embedded finance.
Clients of the company can now quickly and easily make fully customizable virtual and physical cards. Brands can make their cards stand out by using eco-friendly or recycled materials to reduce plastic waste or by combining colors in a unique way.
Checkout.com says that its platform gets rid of patchwork integrations, making it possible for businesses to find new ways to make money by getting a share of card interchange fees.
Checkout.com says that embedded finance revenues are expected to reach close to $7.2 trillion by 2030, and that sectors like online travel, marketplaces, loyalty and expense programs are taking advantage of the lower barriers to entry to make card programs.
The CPO of Checkout.com, Meron Colbeci, says:
“Card issuance and embedded finance has exploded over the past few years as sectors like online travel, marketplaces and digital banking use payments to stay at the heart of their customers’ financial lives.
Checkout.com Issuing is built on open, flexible APIs that mean businesses can create purpose-built card programmes, enhance cash flow and unlock new revenue opportunities.”
