Juni Moves to Direct Issuing with Mastercard

Payments
27.03.2024 08:55 am

Juni, the financial platform for digital commerce, announced today it has received a Mastercard Issuing License. Through this, Juni can issue Mastercard cards directly to its European customers, removing its dependence on third parties and strengthening its existing payments tech stack.

As part of Juni’s offering, the company provides Mastercard cards in multiple currencies to its customers in digital commerce, ensuring businesses can control their spend while operating on a global scale. With Mastercard’s high global acceptance alongside Juni’s financial platform, businesses can boost their bottom line while saving time and improving efficiencies. Juni´s platform also includes multi-currency business accounts, flexible financing, and automated accounting.

Juni operates with an Electronic Money Institution (EMI) license from the Swedish Financial Supervisory Authority. The Mastercard License enables another strategic step for Juni to gain more control over its payment infrastructure, product offering and customer experience across Europe.

“We’re excited to work with Mastercard. The Mastercard License will enable us to speed up the pace of innovation and ensure an even higher level of service reliability for our customers. We’re focused on creating more tailored products for businesses in digital commerce and broadening the range of payment products we offer. For example, our collaboration will enable our customers to use our virtual cards for everyday spend in physical stores through mobile wallets,” says Samir El-Sabini, CEO and Co-founder at Juni.

To attain Mastercard’s license, Juni underwent a thorough application process and has successfully completed the onboarding with Mastercard.

“Our collaboration with Juni helps businesses thrive in the digital economy. Together with Juni´s customer-centric approach and product innovation focus, we are making the commercial payment process improve even further,” says Erik Gutwasser, Division President, Nordics and Baltics at Mastercard.