Checkout.com launches Issuing, enabling all businesses to offer debit cards and unlock a billion-dollar sector - Seite 2

"We're proud to partner with Checkout.com to integrate payments and card issuing to provide that innovative experience. 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. 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. We're excited about this and many future innovations we can build together".

A $121 billion opportunity

Revenue from embedded finance is expected to reach $121 billion by 2029 in the UK and Europe, a 187% increase from 2022. Globally, the sector is expected to be worth close to $7.2 trillion by 2030. Embedded finance is becoming increasingly popular as consumers are no longer tied to banks for financial products and are increasingly looking to brands they trust. Businesses that capture this market will unlock new revenue streams and build customer loyalty.

And it's not just fintechs or big tech companies. Global brands and sectors like online travel, marketplaces, loyalty and expense programmes and digital banking are all taking advantage of the lower barriers to entry to create card programs that move money in creative ways.

Meron Colbeci, CPO at Checkout.com, said: "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."

"Our latest product is built for businesses looking for a modern and bespoke payment experience to offer their customers, building brand loyalty and providing them with new ways to manage, control, spend, and move money in a digital world."

Checkout.com issuing is the latest solution from Checkout.com as it builds out its Payments Plus offering, and follows on from recent launches like Fraud Detection Pro, helping merchants combat fraud and optimise their revenues, Integrated Platforms, a fully flexible, bespoke solution to support marketplaces and sellers in an evolving digital economy, and Authentication.