Online payments firm Checkout.com is pushing into embedded finance with the addition of card issuing to its stack.
The firm's clients can now issue fully customisable virtual and physical cards easily and quickly. Brands can differentiate their card, whether it’s by using eco-friendly or recycled materials to avoid plastic waste or with unique colour combinations.
Checkout.com says its platform removes patchwork integrations, enabling businesses to unlock new revenue streams through receiving a percentage of card interchange fees.
Checkout.com notes that embedded finance revenues are predicted to hit close to $7.2 trillion by 2030 and that sectors like online travel, marketplaces, loyalty and expense programmes are taking advantage of the lower barriers to entry to create card programmes.
Meron Colbeci, CPO, Checkout.com, 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.”