With an emphasis on embedded solutions for banking and payments, Inswitch, a fintech firm, and Mastercard International Incorporated have teamed together to design and deploy digital payment solutions and issuing programs, beginning with a few key nations in the LAC region.
Inswitch will begin issuing cards in Mexico as a primary member of Mastercard, with future intentions to aggressively expand to important markets in the LAC and other countries. Through this partnership, the business will be able to broaden its value proposition by providing both digital and physical Mastercard-branded cards for a variety of applications across industries.
“Now our clients can issue branded cards to support different use cases: digital wallets, Buy now pay later, supplier payments, working capital for corporate expenses or cash management necessities; among others,” said Ronald Alvarenga, Inswitch’s CEO.Ronald Alvarenga, Inswitch’s CEO.
Along with the issuance program, Inswitch and Mastercard will collaborate to integrate their respective assets and solutions, providing a platform that is agnostic and supports a variety of business models, including business-to-business, business-to-consumer, and consumer-to-business. Mastercard and Inswitch are in a great position to deliver a solid turnkey solution in a number of verticals, including eCommerce, Retailers, and CPGs, thanks to their strong partnership. among others, banks and the gig economy.
Inswitch provides a variety of payment infrastructure to speed up the transition to e-commerce. It also innovates beyond payments with a full digital wallet and banking platform, enabling any company to build and launch financial services quickly, reliably, and anywhere in the world.
Inswitch will give Mastercard and its clients robust management tools to run the business, including reporting, analytics, white label channels, automatic settlements, and reconciliations, in addition to delivering an all-in-one platform for payments and banking and a superior user experience.
“We are very excited to have Inswitch as a Mastercard Issuer in Mexico to integrate issuing capabilities and extend the value proposition to all B2C and B2B clients for Inswitch and Mastercard. Inswitch is a company that combines payments, core banking and issuing products in a single stack, that facilities all companies to develop and launch financial services in multiple markets,” said Pablo Cuaron, Vice President Fintech & Enablers for Mastercard Mexico and Central America.