Checkout.com, a provider of payments services, is introducing a solution that will allow companies to create their own physical and virtual cards.
Checkout.com’s primary business is processing e-commerce payments for companies like Sony, Pizza Hut, and Sainsbury’s. The card-issuing offering is a new direction for the company.
The payment technology of the business with its London headquarters will be integrated with cards issued by Checkout.com.
Meron Colbeci, CPO, Checkout.com, said: “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.”
It marks a push into embedded finance for Checkout.com, a market that analysts expect to grow rapidly this decade.
“We use bespoke, single-use, virtual cards which can have specific value limits and expiry dates, which not only makes it easier for our customers to get their groceries, but helps prevent fraud and easily manage our supply chain,” Jow co-founder and CTO Antoine Maillard said.
“We can also find new revenue streams through integrating card issuing with the wider payments value chain, and deliver joined up funding of cards to optimise cash flow.”