Mastercard has expanded its Product Express platform – a service designed to help fintech companies quickly launch new card programs – to several new regions, including Africa, the Middle East, Europe and North America.
Initially launched in Latin America earlier this year, the platform aims to streamline the often complex process of fintechs launching new card programs. According to Mastercard, the platform enables fintechs to get a card program live in as little as 15 days.
Mastercard’s Product Express platform offers fintech companies a toolkit with pre-approved card designs, certified partners and a real-time tracking system. This approach aims to reduce the traditionally complex steps in onboarding, enabling fintechs to focus on scaling rather than navigating lengthy approval processes.
Jennifer Premisler, senior vice president of fintech solutions at Mastercard, said: “We are thrilled to be expanding the reach of the Product Express to more partners, more regions and more solutions. By creating a better experience for all parties, we foster innovation and reduce time to market.”
Collaboration
Foxbit, a crypto fintech in Brazil, recently integrated with Mastercard through Product Express.
Ricardo Dantas, CEO of Foxbit, said: “The partnership with Mastercard through the Product Express platform brought many benefits to Foxbit. The onboarding process was simple and efficient, allowing quick and secure integration into Mastercard services.
“The platform not only expedited our entry into the global payments ecosystem but also strengthened our ability to offer innovative and trustworthy solutions in the crypto market.”
Expanding reach
Since its launch, Product Express has engaged with various partners, including BIN sponsors, processors, and program managers like Blusalt, i2c, Nymcard and Wema Bank. These collaborations broaden the platform’s functionality, offering fintechs greater flexibility.
Jacqueline White, president of i2c, said: “Mastercard Product Express delivers the simple, fast and transparent experience that customers have come to expect from other industries. The experience we provide to fintechs makes us stand out from competition and enables rapid innovation. Everyone at i2c is very proud to be the first processor in the United States to support the program.”
Beyond card issuance, Product Express will soon provide onboarding for additional solutions to enable global payments acceptance. This includes a host of Acceptance solutions available globally as well as enterprise payment solutions via Mastercard Gateway, which offers a single connection to help customers accept payments globally and expand into new markets more easily.
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