Rapyd Card Issuing

Video Notes:

Joel Yarbrough
Card issuing is the process of helping a business literally issue a plastic card. What used to happen was major brands would work with banks in their home country to really sponsor a card program. It might have the logo of your sports team or your business on the front of the card, but in reality, it was the banks card.

Rama Sridhar
Well, historically, banks were the ones who used to issue credit and debit cards. That process has changed now It includes the merchants who issued them. It also includes the digital banks, the neobanks, the FinTech players, all of whom want to issue cards to retain their customers and encourage more transactions.

Joel Yarbrough
We’ve seen a lot of really interesting businesses want to sponsor card programs and ultimately issue. Gig economy platforms, marketplaces, new types of credit providers, offering credit and services to business. And even consumer ewallets have realized that building their own wallet isn’t enough, if they can’t transact with the larger world, for brands around the world now is really a perfect time for them to realize that getting into financial services, becoming a FinTech, building financial services into your ecosystem is a lot simpler than you think it could be. And they can reach out to platform companies like Rapyd and really start to bake financial services into everything that they do, and provide a lot more value to their users.

Rama Sridhar
What businesses who want to enter into card issuing need to know is they don’t need to do it themselves. They can look for other businesses whose expertise is to do the payment processing and issuing.

Vincent Ha
So Lyte is a FinTech startup focusing on providing financial services to freelancers. And one of our beliefs is that there shouldn’t be any tradeoffs as a freelancer just because you’re not an employee. In fact, COVID-19 has been a very interesting time for us, because we see that many employees are now choosing to freelance. And they’re using our services to make sure that they have more assured futures.

Joel Yarbrough
At Rapyd, what we really try to do is to simplify the process of baking financial services directly into your ecosystem. Whether you want to issue a card, bring users onboard, do their compliance, understand who they are, we have a risk platform that helps keep the whole thing safe and secure. But ultimately, our value proposition is to simplify all that down so that our customers don’t have to become experts in every aspect of the value chain in order just to get access to issuing.

Vincent Ha
I think one of the biggest benefits of working at the Rapyd platform is that we don’t have to manage the entire card issuance infrastructure. My developers and team can focus on the branding, marketing the packaging of this service. But more importantly, we can focus on serving the freelancers.

Rama Sridhar
All companies, which have consumer-facing platforms as their core business proposition would benefit from cards because it encourages repeat transactions. It encourages loyal behavior, and that’s really what they want to solve.