Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) a Canada-based digital payments and financial technology company, announced on Thursday its wholly-owned payments platform, Carta Worldwide, is extending its U.S. market deployment with an expanded debit card issuance service offering for challenger banks. Carta has reportedly partnered with LendingClub Bank, National Association to power its new advanced debit card product offering and help businesses rapidly deploy next-generation digital banking solutions.
The expansion comes less than two months after Mogo announced Carta’s expansion in the U.S. As previously reported, Carta is described as a modern open-API issuer platform powers solutions for banks and fintech companies across Europe, North America, and the Asia Pacific.
“Carta enables the issuance of virtual and physical card solutions to support innovative solutions for businesses and platforms that are looking to deploy payment products and embedded financial services.”
Carta’s platform features the following:
- Deploy Virtual and Physical Cards: Fintechs, challenger banks and platforms can rapidly develop and deploy innovative solutions powered by Carta APIs
- Simplify and accelerate international expansion: Adding U.S. market support means clients can simplify their international roadmap when launching and scaling new card programs, including support for Europe, Latin America, Canada, and APAC
- Enable Multi-Currency (Including Crypto) Innovations: Utilizing Carta’s global platform and Card Issuing APIs, clients can take advantage of Carta’s powering multi-currency card products, and take advantage of new “innovations” to support cryptocurrency
Mogo further revealed that Carta debit card issuance is being enabled in partnership with LendingClub Bank. Greg Feller, President of Mogo, further commented:
” LendingClub Bank is widely recognized as an innovator and fintech pioneer, and they have a broad and growing base of business customers across the U.S., which make them a great first partner as we expand into the U.S. market.”