InstaReM launches card issuing platform for fintechs and enterprises
InstaReM, Southeast Asia’s leading digital cross-border money transfer and payments company, has announced the launch of its API-based digital platform that will enable start-ups, fintech companies and enterprises to launch their own branded cards.
Designed to operate alongside the successful Visa Fintech Fast-Track Program, InstaReM’s card-issuing platform will offer next-generation digital payments and cards as a B2B solution. With the card-issuing platform, InstaReM’s fintech partners and enterprise customers can now 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, offering multiple benefits to consumers as well as business users. Consumers can 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 & expenses, payroll, and payouts and disbursement to their employees and vendors.
The simple API-integration with InstaReM’s card-issuing platform gives businesses greater control over creating, distributing and managing card accounts. The user can also apply spending control (by merchant categories) on these cards, which will also facilitate peer-to-peer transfer of money. With InstaReM’s seamless and fully-digitized sign-up process, onboarding on this card-issuing platform is extremely fast and simple. A quick set-up time gives corporates more time to scale-up, while not worrying about admin issues.
This is the latest innovation as part of InstaReM’s mission to democratise payments globally, helping businesses move money internationally in fast, convenient ways.
Announcing the launch of the card-issuing platform, Prajit Nanu, co-founder and CEO of InstaReM, said:
“We strongly believe anyone – whether a start-up or a large corporate – who wants to have its own branded cards program, should be able to do so. InstaReM is there to offer the necessary infrastructural and administrative support. Our card-issuing platform is flexible, scalable and designed to support the ambitions of our enterprise partners, especially in the fintech sector. And it’s quick to get started. It’s possible for businesses to start issuing payment cards in as little as four to six weeks once they register with us.”