Cloud banking platform Mambu has entered a strategic global partnership with Visa to utilise Visa DPS for end-to-end card issuing and processing.
Mambu is developing an integration to Visa DPS, which is one of the largest processors of Visa debit transactions globally, that will give institutions “more flexibility” in offering new card products and services to their customers.
“We’re excited to bring our modern API-based processing capabilities to Mambu’s growing marketplace of composable payment solutions and believe our collaboration will create tremendous value for our clients and their cardholders,” said Todd Brockman, SVP, global head of issuing solutions at Visa.
Kevin Trilli, chief product officer at Mambu, added that with customer demand for card services growing rapidly, strategic partnerships and interoperability of service providers offer “the best value, choice, and flexibility for clients”, whether they are embarking on digital transformation or scaling a new card programme.
“We’re creating an opportunity for our customers to transform, scale and achieve operational excellence with this integration. Institutions can create their unique customer payment card experiences on Mambu, regardless of whether it is a deposit or loan account and get it rapidly to market,” Trilli explained.
“They can then leverage the issuer processing capabilities of Visa DPS to deploy new products and solutions for their customers. This partnership will enable our customers to create powerful, digital-first payment solutions and experiences.”
Last month, Mambu made four appointments to its senior team, including ex-Amazon Web Services and Microsoft executive Fernando Zandona as chief technology officer, as it scales its operational capabilities.
The cloud banking platform was valued at €4.9 billion at the end of 2021, after raising €235 million in a Series E funding round led by EQT Growth.