MuchBetter, the award-winning payments innovator, has been granted a Principal Licence by Mastercard for card issuing activities in the UK, with regulatory approval secured to extend the licence to Israel.
This strategic milestone empowers MuchBetter to accelerate its growth across both markets, broaden its Cards-as-a-Service (CaaS) proposition, and onboard new partners with greater autonomy, speed, and regulatory efficiency.
As a Principal Customer of Mastercard, MuchBetter now has direct access to the Mastercard network, enabling it to issue cards without relying on intermediary sponsors. This unlocks faster go-to-market timelines for its clients, reduces operational overheads, and enables the company to apply with Mastercard to sponsor third-party programmes - significantly increasing its strategic flexibility and competitive edge.
The licence, granted to MIR Limited UK Ltd (part of the MuchBetter group), also extends to cover operations in Israel, where the company is actively exploring new programme partnerships and product deployments. This marks a key development in MuchBetter’s international expansion plans, particularly as it deepens its footprint in high-growth, innovation-led markets.
This announcement comes on the heels of several major milestones for MuchBetter, as the company continues to evolve into a full-service fintech ecosystem serving both consumers and businesses. In May 2025, MuchBetter unveiled MuchBetter Business (MBB) - a next-generation business account offering powered by Temenos’ cloud-native core banking platform. Backed by tier-one safeguarding with NatWest and direct SWIFT membership, the MBB platform delivers operational and safeguarding accounts in 35 currencies, supporting UK, EU, and international payment rails, real-time FX execution, and biometric digital onboarding.
The new Mastercard licence complements these capabilities by adding a core issuing function to MuchBetter’s growing B2B suite. It also strengthens its broader product ecosystem, which includes:
• MuchBetter Wallet, enabling consumers to store, spend, and send funds securely across multiple currencies and devices.
• Wearable payments, allowing users to make contactless transactions via branded devices such as key fobs, watches, and wristbands.
• Corporate cards, providing businesses with seamless expense management tools and secure card-based payment options.
• MB Gateway, a high-performance payments infrastructure layer for B2B and white-label payment processing.
• Cards-as-a-Service (CaaS), which now benefits from direct issuing capability across the UK and Israel.
Gary Hill, Chief Information Officer at MuchBetter, commented: “Becoming a Principal Customer of Mastercard is a key milestone for MuchBetter. It gives us the autonomy and flexibility to accelerate our card strategy in the UK and Israel - two important markets for our business. This licence unlocks new commercial opportunities and enhances our ability to deliver fast, secure, and cost-effective payment solutions for our partners and their end users.”
This new capability also aligns with MuchBetter’s mission to support underserved sectors and geographies that are often excluded by traditional banking infrastructure. Whether through its MBB platform for high-risk business verticals or wearable solutions for emerging markets, MuchBetter continues to build inclusive, secure, and agile financial products that challenge legacy norms and unlock new user experiences.
With its Principal Mastercard licence in place, MuchBetter is poised to launch new CaaS programmes and issuing partnerships in the months ahead - helping fintechs, platforms, and enterprises go live with branded card products faster, with full regulatory coverage and a customisable infrastructure behind the scenes.
MuchBetter’s broader strategy focuses on modular innovation and interoperability across its B2B and B2C offerings, ensuring clients can access best-in-class solutions tailored to their needs, all under one roof.