Global Card Issuance: Yesterday & Tomorrow
Payment card issuance used to be a domestic endeavour for issuing institutions. Issuers who usually tend to be regional entities or branches of banks, operate local card programs that serve certain geographical pool of customers. This has been the standard way of things for decades now.
In the recent years, there has been an uprise of a new breed of issuers like N26, Monzo, Revolut, TransferWise and many more whose playground is global from day one.
These players with their relatively small payment card teams, offer single card product proposition simultaneously in multiple regions, are often internet based and mobile-first.
Today, there are plenty of inspiring success stories of fresh global issuers and their geographical expansion. Within a year, TransferWise debit cards for consumers and businesses went live on 4 continents in 30 countries.
This talk covers real life hurdles in international issuance domain and reveals how the industry and payment card schemes are transforming to accommodate global fintechs better.
Be it old-school plastic payment cards, fancy contactless wearables or wallet tokens – there is definitely a bright future for issuers with global ambition.