InstaReM rolls out card issuing platform

Designed to operate alongside Visa Fintech Fast-Track Program, the platform will offer digital payments and cards as a B2B solution. With the card-issuing platform, InstaReM’s fintech partners and enterprise customers can ride on InstaReM’s global digital ecosystem for payments and remittance, without needing to obtain multiple local licenses to be able to issue payment cards to their employees and vendors.

These cards, issued on the InstaReM platform, will be available in virtual and physical (plastic) form, and will allow consumers to accumulate and monetise loyalty points, use the card as a multi-currency travel card or as a virtual card. Business users can use cards for business-related travel and expenses, payroll, and payouts and disbursement to their employees and vendors.

Moreover, the user can apply spending control (by merchant categories) on these cards, which will also facilitate peer-to-peer transfer of money.