Paymentology has partnered with Maxim to support the launch of its credit card programme for the African diaspora in the UK.
The partnership combines Maxim's focus on improving cross-border access to credit for African customers with Paymentology's cloud-native issuer processing technology.
Maxim was established to address a problem faced by people relocating to a new country: despite having established careers, incomes, and financial histories elsewhere, they often have to rebuild their credit profile from scratch. According to Experian, more than five million people in the UK are currently classified as 'credit invisible', meaning they have little or no credit history recognised by mainstream financial services providers. Maxim's UK offering initially targets the Nigerian diaspora, providing credit cards for both newcomers with limited UK credit history and established residents seeking products that better reflect their spending patterns.
Technology and scale
Through the partnership, Maxim uses Paymentology's processing infrastructure to support its UK card programme while building a foundation for future growth. Paymentology's cloud-native platform is designed to provide the flexibility and scalability needed to launch, adapt, and scale card propositions as customer requirements evolve. The company's Lume platform supports banks, digital banks, and fintechs in building and scaling card programmes across more than 68 countries, combining global infrastructure with local market knowledge.
Maxim's rewards structure differs from conventional credit card loyalty programmes in that it has been designed around the interests and lifestyles of the African diaspora. Customers earn points through everyday spending, which can be redeemed across a range of services, including African restaurants and brands, music and live entertainment, transport, cinema, theatre, football tickets, and shipping between the UK and Nigeria.
Expansion beyond Nigeria
Maxim already operates in Nigeria, where it provides interest-free credit. Its UK launch represents an extension of this model, intended to support customers across different markets and stages of their financial lives as they move between countries. According to Paymentology, the partnership is designed to help Maxim's card programme scale in the UK and in other markets over time.
