Embedding Innovative Card Programs, powered by Marqeta + Productfy
Any brands or organizations that are looking to quickly implement a payment card use case now have additional options to do so. Marqeta partners with Productfy, a banking-as-a-service (BaaS) provider, to target small to medium-sized businesses (SMBs) that are looking for an out-of-the-box payment card solution. Through Productfy’s “Project Latinum,” smaller brands can launch a pre-approved white labeled card program in as little as a few weeks.
Building the Right Ecosystem
An important element of success in the financial marketplace is identifying the right ecosystem partners to solve for today’s needs and for the opportunities that may emerge in the future. Marqeta carefully vets potential partners to ensure strategic alignment and a shared vision. The result is an expanded platform with an ecosystem of best-in-class partners that extend our offerings into BaaS, fast pay and rewards, spend management, core banking software, and more.
Reducing time to market and simplifying the process of implementing customized payment card programs are key benefits of Marqeta’s open API platform. Innovators from global enterprises to booming startups rely on Marqeta to gain the ability to help build more configurable and flexible for their customers.
However, Marqeta also recognized that customization doesn’t fit the needs of all brands; sometimes, a smaller brand wants an out-of-the-box solution. Specifically, some SMBs and non-fintechs don’t have expertise in coding or payments, but they still want to get a financial services product out of the door quickly to market quickly. For them, an out-of-the-box solution is preferable. That’s where Productfy enters the picture.
An Off-the-shelf alternative
Productfy’s Project Latinum serves as an off-the-shelf alternative that is powered by Marqeta. It enables brands to launch a range of financial experiences, including debit and credit builder card programs. At its core, Project Latinum is a fintech-in-a-box. It includes a full suite of financial features in a single platform, including:
· Zero fee virtual deposit accounts
· Debit card with Mastercard and Visa
· Secured Credit Card with Visa
· ACH funding and transfers
· Instant Account Verification
· Identity verification (Know Your Customer)
· Account linking
· Pre-approved disclosures
Best of all, it doesn’t look like an off-the-shelf solution. The responsive user interface features the customer’s brand and the entire payment experience can be integrated.
Marqeta provides physical and virtual card processing, while Productfy issues the cards. With Project Latinum, it is no longer necessary for an engineering team to deploy a payment card program. Resources in compliance, banking or customer support are not necessary. Project Latinum is enabled to take care of everything from the bank partnerships, compliance and due diligence. This allows customers to focus on their brand and customer experience.
Get started today
It’s easy to be overwhelmed by everything that must be done to get a payment card program up and running. The legacy financial system isn’t as innovative as many innovators wish it could be. Marqeta’s partnership with Productfy serves as a springboard to help clear these obstacles. Taking advantage of the simplicity of Project Latinum’s out-of the-box solution, it could take as little as three weeks to get a pre-approved white labeled payment card program powered by Marqeta into the market. Time-to-market might be slightly different, depending on a brand’s systems and processes.
Get in touch with the Marqeta team to learn more by contacting firstname.lastname@example.org.