Mastercard and Zeta, a financial tech startup that provides next-generation credit card processing to banks and fintechs, established a 5-year worldwide agreement today. As part of the deal, the companies will work together to create credit cards with issuers all around the world using Zeta’s modern, cloud-native, and API-ready credit processing stack.
- According to a statement released by Zeta, Mastercard has bolstered the alliance by making a financial investment in the company.
- Zeta hopes to move the credit card processing industry from fragmented, multi-vendor systems to nimble, composable, single-vendor systems that are truly responsive to changing cardholder needs and preferences with Mastercard’s support and integration of its capabilities in digital issuance, fraud and risk, loyalty solutions, and more.
- Issuers will be able to launch cards significantly faster now that both partners have pre-configured essential features behind the scenes, making it easier than ever to quickly create and deploy flexible, highly customised card programmes, according to the banking tech unicorn.
- Zeta Tachyon Credit is the only current credit processing stack in the business that can handle both credit and loan processing.
- The stack includes features for issuance, core, payments, BNPL loans, fraud and risk, rewards, and more, spanning the whole credit card programme lifetime.
- By providing a complete credit Banking-as-a-Service (BaaS) and embeddable banking platform to co-brands, fintechs, and affinity partners via Zeta’s comprehensive APIs, issuers may quickly develop new revenue lines as BIN/balance sheet sponsors.
- Customers can also take advantage of Zeta’s comprehensive managed services, which include servicing and collections, among other things.