The licence, issued to MIR Limited UK Ltd, a company within the MuchBetter group, marks a significant regulatory step as the firm looks to expand its card services and deepen its presence in both markets.
Previously reliant on intermediary sponsors, MuchBetter will now be able to issue cards independently through direct access to the Mastercard network. This change is expected to reduce time-to-market for clients, cut operational complexities, and give the company the ability to apply to sponsor third-party card programmes.
The new issuing capabilities integrate with MuchBetter’s strategy to expand its B2B offerings. The firm launched a business account product, known as MuchBetter Business (MBB), in May 2025. Developed in partnership with Temenos and supported by safeguarding arrangements with NatWest and SWIFT membership, the platform provides multi-currency accounts and supports international payments, foreign exchange execution, and biometric onboarding.
Company representatives say the Mastercard licence will improve the B2B suite by embedding direct card issuing capabilities within its Cards-as-a-Service (CaaS) infrastructure. This enables partners to deploy white-labelled or co-branded card solutions with regulatory support across both the UK and Israeli markets.
In Israel, MuchBetter is exploring new programme partnerships and product launches as part of an international growth effort. The company is targeting regions and sectors underserved by traditional banking, aiming to provide financial tools that cater to these gaps.
Other products in MuchBetter’s portfolio include a digital wallet for multi-currency transactions, wearable devices for contactless payments, and a gateway platform for B2B payment processing. Its CaaS offering, now supported by the Principal Licence, allows for customised issuing solutions.
According to officials from MuchBetter, the licence introduces operational flexibility and enables the firm to accelerate its strategic roadmap in key jurisdictions. The move also lays the groundwork for onboarding new partners looking to issue card-based products with built-in compliance support.
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