Paymentology, audax, and Mastercard have joined to publish a report on Cards-as-a-Service (CaaS). The report is entitled; “Understanding Cards-as-a-Service (CaaS) and the Power of Strategic Partnerships.”
The trio described CaaS as transformative, allowing Fintechs, banks, and more to become “distributors of payment services” and generating new revenue streams.
The report states that the global payment processing market is expected to grow from $55 trillion in 2024 to $79 trillion by 2029. The partners aim to benefit from this growth by providing streamlined card issuance and management. They predict an improvement in “time to revenue” of up to %50.
Merusha Naidu, Global Head of Partnerships at Paymentology says that CaaS is a “strategic pivot” for financial firms.
Payments is one of the most successful sectors of Fintech as analog transitions to digital and new technologies emerge that can benefit anyone, anywhere to transfer value securely and instantaneously.
