How Reap Helps You Outsource Compliance and Launch Faster

Launching a card program can be a complex and time-consuming process, taking anywhere from a few weeks to years, depending on the technical, operational, and legal capabilities of your business.

If you're looking to issue your branded cards quickly and efficiently, you need the right card issuing partner who can provide comprehensive services.

At Reap, we have developed strong partnerships, built the necessary technical capabilities, and offer additional solutions that enable you to enjoy a truly plug-and-play package, helping you launch your card program in as little as three weeks.

Reasons why using Reap as your card issuing partner helps you launch faster

BIN sponsorship via Visa principal issuing licence

With Reap, you can issue your own cards without the need to acquire a licence or work with a bank. As a principal Visa card issuer, we maintain a direct relationship with Visa, eliminating the need for additional layers of communication through third-party banks. This ensures compliance with Visa's guidelines and enables you to launch your program efficiently.

Comprehensive partnerships and program management

Our strategic partnerships with processors, manufacturers and other stakeholders allow us to handle all aspects of card issuance, from production and distribution to program management. By consolidating these responsibilities under one roof, Reap reduces operational burdens associated with building and managing multiple partnerships.

Developer-friendly APIs and dedicated support

Our developer-friendly APIs and dedicated technical support facilitate a seamless journey from program implementation to launch. They ensure swift implementation, while our sandbox environment allows for quick testing and deployment. With Reap's instant card issuance capabilities and seamless mobile payment integration, your clients can start using their cards right away, fostering immediate engagement with your program.

Outsourcing security-related elements to Reap

Launching a card program requires a strong focus on security, and establishing a comprehensive compliance strategy is vital. However, this can be a demanding and resource-intensive task, involving specialised teams, regulatory expertise, complex processes like AML and KYC, obtaining licences, and integrating third-party solutions. Compliance with evolving regulations also requires ongoing vigilance, making it a time-consuming endeavour, particularly for less experienced organisations.

At Reap, we understand that these challenges shouldn't hinder you from launching a secure program. That's why we have developed solutions that allow you to outsource many of these elements to us. By doing so, you can reduce your burdens and focus on your expertise.

Secure Card Information Display Widget

Time taken to build a PCI DSS Compliant infrastructure independently: 6-24 months
Time taken to achieve the same with Reap’s Secure Card Information Display Widget: 1-2 weeks

If you’re looking at issuing cards, you know the importance of PCI DSS compliance for protecting cardholder data. This security standard applies to all organisations processing, storing, or transmitting payment card information and can be complex and resource-intensive.

Reap's Secure Card Information Display Widget is a tool card issuers can use to create a secure window (iframe) hosted by Reap, where you can display sensitive card information (e.g., 16-digit card number, CVV, expiration date) securely.

By using this method, your business is relieved of storing, handling, or transmitting this sensitive data. It reduces your burden of PCI compliance, enabling a card program launch with significantly fewer resources.

Integrating the iframe from the Card Issuance API user is straightforward and a basic implementation of this iframe typically takes approximately 1-2 weeks. In contrast, independently building a PCI compliant infrastructure can take 6-24 months.

To learn more about PCI DSS compliance and our tool that helps you launch faster, read the following:

Compliance-as-a-Service

Time taken to build your own KYC processes independently: 6-12+ months
Time taken to achieve the same with Reap’s KYCaaS APIs: 2 weeks

Building a compliant card program comes with operational challenges that Reap can help you overcome. We offer capabilities and processes under our Compliance-as-a-Service umbrella to save you time and expedite your path to achieve the required compliance level to become a card issuer. With Compliance-as-a-Service, your business can leverage Reap's robust compliance systems, thereby reducing the need for an extensive development of your own processes and technologies and a large in-house personnel.

For example, Reap's KYC-as-a-Service allows your business to utilise our APIs to send us user information. We will conduct the necessary compliance checks and inform you of any risk factors, all within minutes. This efficient system helps you meet KYC requirements quickly, reducing resource allocation and speeding up your onboarding process.

Launch your card program today

If you're ready to embark on your own card program journey and prioritise a speedy market entry, Reap can provide the ideal solution. Our resources and expertise are designed to alleviate your operational burdens and expedite the launch process. Reach out to Reap today to discuss how we can simplify your card program journey and help you achieve a faster and more efficient market entry.