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Zeta and Mastercard Partner to Power Next-gen Credit Processing for Banks and Fintechs
Rhea-AI Impact
(Low)
Rhea-AI Sentiment
(Very Positive)
Tags
partnership
Rhea-AI Summary
Mastercard (NYSE: MA) has entered a five-year global partnership with Zeta, a fintech unicorn specializing in credit card processing technology. As part of this agreement, Mastercard has made a capital investment in Zeta to jointly launch credit cards globally, utilizing Zeta's cloud-native and API-ready processing platform. This collaboration aims to enhance efficiency in credit card issuance, reduce costs, and improve customer experiences while driving growth in new markets. The partnership builds on their previous engagements and aims to modernize the fragmented credit card processing industry.
Positive
Mastercard's capital investment in Zeta enhances its technological capabilities in credit card processing.
Partnership aims to reduce costs and improve efficiency for issuers, enhancing customer satisfaction.
Collaboration expected to accelerate entry into new markets and drive user growth.
Negative
None.
Mastercard makes capital investment in Zeta
SAN FRANCISCO & PURCHASE, N.Y.--(BUSINESS WIRE)--
Zeta, a banking tech unicorn and provider of next-gen credit card processing to banks and fintechs, and Mastercard today announced a 5-year global partnership. As part of the agreement, the firms will go-to-market jointly to launch credit cards with issuers worldwide on Zeta’s modern, cloud-native, and fully API-ready credit processing stack. Mastercard has underscored the partnership by making a financial investment in Zeta.
“With Zeta’s next-gen credit card processing platform, we are fundamentally rewiring how issuers launch credit card programs by offering new paradigms over legacy mainframe systems,” said Bhavin Turakhia, co-founder & CEO of Zeta. “Amongst other benefits, our stack allows issuers to increase the lending book by composing contextual upsells using our extensive APIs and SDKs; reduce costs via pay-as-you-go SaaS billing; improve customer satisfaction by launching rich, self-serve experiences for card holders; and launch and iterate faster using our infinitely scalable cloud-native deployment. In Mastercard, we have a partner that is committed to undertake this journey with us and truly believes in this mission.”
With Mastercard’s support and the integration of its capabilities in digital issuance, fraud and risk, loyalty solutions and more, Zeta aims to take the credit card processing industry from the age of fragmented, multi-vendor systems to an age of nimble, composable, single vendor systems that are truly responsive to changing cardholder needs and preferences. With both partners pre-configuring key capabilities behind the scenes, issuers will now be able to launch cards much faster, making it easier than ever to rapidly design and launch flexible, highly customizable card programs.
“As people shop and bank online more than ever before, Mastercard is partnering with Zeta to provide issuing banks and fintech innovators with modern credit card processing capabilities at scale that will maximize the safety, security and convenience of e-commerce, online banking, and contactless transactions. By deploying Zeta’s credit processing stack, issuers will have an opportunity to grow their user base, drive higher usage and enter new geographical markets, all while accelerating the cashless revolution around the world,” said Sandeep Malhotra, Executive Vice President, Products & Innovation, Asia Pacific, Mastercard.
Zeta Tachyon Credit is the industry’s only modern credit processing stack that offers an integrated credit and loan processing platform. The stack offers functionality that spans the entire credit card program lifecycle including issuance, core, payments, BNPL loans, fraud and risk, rewards, and more. Using Zeta’s comprehensive APIs, issuers can rapidly build new revenue lines as BIN/balance sheet sponsors by providing a complete credit Banking-as-a-Service (BaaS) and embeddable banking platform to co-brands, fintechs, and affinity partners. Additionally, Zeta offers a comprehensive suite of managed services to its customers that includes servicing and collections amongst others.
The two companies’ collaboration began in 2018 in Asia Pacific when Zeta joined Start Path, Mastercard’s global startup engagement program, and continues to gain momentum with Zeta recently joining the Mastercard Developers Partner Network, Engage. Through Engage, Zeta will gain access to the Mastercard network to pre-integrate or bundle products and services, including Mastercard’s Digital First and Fintech Express programs. The programs will look to provide instant customer KYC and verification, instant digital card issuance, provisioning, and usage.
About Zeta
Zeta helps issuers launch next-gen card programs with its cloud-native and fully API-enabled stack that includes processing, issuing, lending, core banking, and mobile apps. Zeta has 1300+ employees with over 70% in technology roles across locations in the US, UK, Middle East, and Asia. Globally, eight issuers and 30 fintechs have issued 10M+ cards on Zeta’s platform. Zeta has raised $250 million from Softbank Vision Fund 2 and other investors at a $1.45 billion valuation. Visit us at www.zeta.tech or follow us on Twitter, Facebook and LinkedIn.
Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.
What is the significance of Mastercard's investment in Zeta?
Mastercard's investment in Zeta signifies a strategic move to enhance its credit card processing capabilities and modernize the industry.
How long is the partnership between Mastercard and Zeta?
The partnership between Mastercard and Zeta is set for five years.
What benefits does Zeta's processing stack offer to Mastercard?
Zeta's processing stack offers benefits such as reduced costs, faster product launches, and improved customer experiences for Mastercard's issuer partners.
How will the partnership impact Mastercard's market presence?
The partnership is expected to enhance Mastercard's market presence by enabling quicker entry into new geographical markets and boosting user base growth.
