Credits partners with Unlimint to issue debit cards for users in Europe and LATAM

Thursday 2 February 2023 13:51 CET | News

UK-based neobank Credits has partnered with fintech Unlimint to issue Mastercard debit cards for users in Europe and LATAM for an augmented banking experience.


By leveraging Unlimint’s in-house developed payments infrastructure and global reach, Credits will be able to strengthen its offering with an innovative suite of services backed by pioneering payment technology. The project will allow cards to be integrated into the Credits app and ordered directly within it.

Credits teams up with Unlimint to issue Mastercard debit cards for users in Europe and LATAM

To receive a card, customers will be required to register in the Credits app, pass a Know Your Customer (KYC) verification, and place an order. The project, set to be launched in Q1 2023, will target the European market at first, with plans to further expand it to Mexico and Brazil. The first stage of the launch will include the functionality to release virtual cards followed by issuing of physical cards.


Enabling seamless crypto spending

The partnership between Unlimint and Credits aims to create a unique product on the market that will embody an innovative proposition for crypto users across Europe and LATAM. Users will have the option to spend crypto more conveniently and seamlessly, without having to convert their crypto assets through centralised exchanges. With the new debit card powered by Unlimint, Credits will be able to expand its product and service offering globally.

The collaboration will boost the growth of the digital banking market. According to Statista, one of the fintech market’s largest segment will be digital payments with a total transaction value of USD 9,471 billion USD (GBP 7,791 billion) in 2023. The average transaction value per user in the neobanking segment is projected to amount to USD 18,080 (GBP 14,800) in 2023 with the segment expected to show a revenue growth of 28.9% in 2024.

Commenting on the new partnership, Unlimint’s officials said that they are excited to partner up with Credits on this mission to revolutionise the modern world of banking services and help build a seamless connection between Web 2 and Web 3. Unlimint’s BaaS product was developed to help innovative companies like Credits accelerate their geographic footprints in existing and new market verticals, and they believe that this partnership is another step towards their mission of creating a new fintech world with limitless possibilities, without legacy and banking technology limitations.


What does Credits do?

Credits is a digital neobank or challenger bank that combines many financial services into one application and focuses on providing financial services for the cryptocurrency space. The team at Credits believes that managing one’s finances should be available to everyone and based on the principles of free or nearly-free cost, global access, and full transparency.

For more information about Unlimint, please check out the company profile in The Paypers Company Database.

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Keywords: MasterCard, cryptocurrency, neobanks, virtual card, BaaS
Categories: Payments & Commerce
Companies: Credits, Unlimint
Countries: Europe, Latin America
This article is part of category

Payments & Commerce




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