Powered by cloud-based APIs, modern card issuing leapfrogs traditional issuer processing to help non-financial services companies launch and customize card programs. Here’s where their offerings will be most disruptive.
Modern card issuers are turbocharging the issuer processor space by offering API-based, customizable card solutions for non-financial services companies. Mobile payment services, ecommerce marketplaces, and the gig economy are in their sights—along with $17.12 billion in issuer processing revenues.
Key Question: How are modern card issuers growing within the issuer processing space?
KEY STAT: Modern card issuers Marqeta and SoFi have quickly carved out a 6.2% revenue niche among six key issuer processors—and they are poised to grow that share further as digital card issuance gains steam.
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Table of Contents
Report Snapshot
Modern card issuance has revolutionized card issuing, providing enormous embedded-payments opportunity.
Modern card issuing puts $17 billion in revenues in play.
Modern card issuers can help gig economy platforms better meet workers’ needs.
Modern card issuers will grow alongside mobile payment services transaction value.
Marketplace sellers are a growing $600 billion opportunity ripe for modern card issuing solutions.
What does it all mean for incumbent issuers and issuer processors?
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