UK-based FairFX Group, e-banking and payments services provider, has launched issuance of its own Mastercard branded cards throughout its product suite.
The move comes after FairFX secured e-money licence and membership of Mastercard.
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It is in line with the company’s digital banking strategic plans and is expected to allow proportionate saving in costs and internalisation of certain portion of value chain.
FairFX Group banking head Adam Rigler said: “Self-issuance enables us to better manage the service levels we can offer to our customers which will further improve customer satisfaction and thereby retention.”
The company has also partnered with Alternative Business Funding to add commercial finance facility for its business customers, who will now have online access to different funding options via the CardOneBanking platform.
FairFX CEO Ian Strafford-Taylor said: “Achieving the milestones of issuing the first cards under our Mastercard licence, and adding a commercial finance capability to our digital Banking suite are important steps forward for the FairFX Group.
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By GlobalData“Together, these successes tie in with our twin strategies of increasing efficiency whilst adding new products.”
