Industry: Payment Intermediary
Use case: Enabling payment intermediaries to issue their own card
Previously, we looked at how Reap’s Card Issuing solution could help Web3 exchanges issue their own cards. Now, let’s also look at payment intermediaries. Let’s now take a look at how payment intermediaries can do the same.
Like many Web3 exchanges around the world, payment intermediaries have plenty of reasons to establish their very own credit card program. Being a service that would greatly benefit from growing its international customer base, payment intermediaries are constantly seeking ways to sharpen their competitive edge— something a credit card issuing program can do to increase product viability and interest their customers.
User goals
Although payment intermediaries hope to venture into credit card issuing like Web3 exchanges do, they have several other goals to tackle:
Establish their own card program quickly to outpace competitors, proving product viability and increasing customer loyalty
Help themselves and their customers expand their global business reach and facilitate card services internationally
Find an expert card issuing solution provider with good customer support
All the above while minimising the initial overhead costs of implementing a new card program
The challenges
Although many intermediaries benefit from expanding their customer base, there are plenty of restrictions that hinder them from facilitating a card issuing program with a wide global reach.
Without the expertise to assess the program’s feasibility, security, procedures, and other crucial knowledge, there simply isn’t enough confidence to put a new card issuing program in place and to get started.
Even if they could find a partner provider to help them implement a card issuing program, lengthy implementation— and the lack of customer support if they are unlucky too— steepens the execution curve and could risk them their edge over other competitors.
Hence, with the road bumps these payment intermediaries still face given the support of other card issuing solution providers, why can Reap be the ultimate helping hand?
The Reap solution: Fast and cost-effective card program
Reap's Card Issuing API and white labelling solutions empower businesses to swiftly and effortlessly launch their own branded card programs. Acting as the card producer, issuer, BIN sponsor, and distributor, Reap handles every aspect, accelerating the transition from concept to market in a matter of weeks instead of months. Businesses can fund their card programs in their preferred currency, be it traditional or digital while granting their users the flexibility to settle expenses in either option. With a global reach, Reap facilitates access to untapped markets and a broader customer base. Behind Reap and our card issuing solution are very real people who have gone down the same bumpy road— and we have nothing but empathy for our payment intermediary clients who have set the goals we once did too.
Because our clients’ goals and challenges are almost too painfully well understood to us, here is how we cater our care issuing solution to fulfil their pursuit:
1. Flexible spend limits
Unlike other providers, Reap offers a card issuing solution without any restrictive limits. This allows the intermediaries to process larger transactions to accommodate their commercial needs and their high-value clients effortlessly.
2. Global coverage
With Reap's solution, payment intermediaries will gain access around the world. Our extensive network of international banking and payment partners and service capacity ensure borderless usage and acceptance, all-in-all supporting our clients in expanding their business reach too without jumping through multiple hurdles.
3. Smooth integration, speedy usage
From concept to launch in weeks, our efficient card issuing solution enables our clients to bypass lengthy development cycles with quick deployment. Swiftly reach the market with secure sandbox environment testing, comprehensive API documentation, instant card issuance, dedicated technical support, and a smooth end-to-end journey. We also allow clients to instantly issue virtual cards to settle payments in real-time. Pairing this with seamless mobile payments, cardholders can start using the card even before it arrives at their door.
4. Sharp expertise and warm support
No matter where our payment intermediary clients are based, Reap has the resources and expertise to help them navigate the complex landscape of launching and managing a card program. Seeing your card program launch and succeed is our pride and joy, so we are here to support you to make it happen.
Reap's card issuing solution serves as a valuable ally, providing comprehensive support in knowledge, information, technological implementation, maintenance, and dedicated customer assistance. By leveraging our solution, payment intermediary clients not only save costs associated with developing their own mechanism from scratch but also benefit from time savings and increased competitiveness.
When payment intermediaries leverage our solution to enhance their services while reducing overhead costs, it opens up ample opportunities for scaling and expansion. At Reap, we’re committed to orchestrating success for our partners and witnessing their growth.