The news: Checkout.com added card issuing to its suite of offerings for clients in Europe and the UK, per a press release. The API-based service lets businesses create physical cards and single- or multi-use virtual cards. It’s also designed so that Checkout.com shares interchange fee revenues with its clients.
Why it’s worth watching: API-based card issuing is setting the pace of payments innovation.
The opportunity: Adding card issuing to its product suite will help bolster Checkout.com’s revenues.
What’s the catch? The issuing service will put Checkout.com in direct competition with firms like Marqeta and Galileo, which dominate the digital issuance sector. But as a newer player in the space, Checkout.com could offer more competitive pricing to stand out.
Related content: Check out our Evolving Payments Purchasing Chain report to learn how growing digitization is changing the payments ecosystem.
This article originally appeared in Insider Intelligence's Payments Innovation Briefing—a daily recap of top stories reshaping the payments industry. Subscribe to have more hard-hitting takeaways delivered to your inbox daily.
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