Pi1 Launches Card Issuing Service
- Payments , Banking
- 21.08.2020 11:03 am
Pi1, the modular bank-in-box platform, and financial technology provider, announces a new service in partnership with Marqeta and TagNitecrest to issue Visa debit cards.
Pi1 is an initiative from Project Imagine, which looks to bring true innovation to financial services, and sits alongside Project Imagine’s financial wellness and investment app Dozens.
Pi1 has noticed a gap for card issuing services, and so its new service offering was formed. Pi1’s card issuing services will be of particular interest to those fintechs and payment businesses looking for a long-term, responsible and responsive partner.
Pi1, through Project Imagine, has its own primary Visa membership and is itself an issuer of Visa cards for customers of its consumer brand Dozens.
The new alliance, together with its existing relationship with Clearbank, will allow Project Imagine to extend Pi1’s cutting-edge tech and data platform services to include BIN sponsorship for card issuance alongside agency banking services, with immediate effect.
In addition, existing connectivity to Google Maps via Snowdrop means Pi1 clients can allow their customers to see card transactions on a map from day one, enabling a reduced need for customer support calls, and improved fraud detection, as well as benefit from other ancillary services, like IFTTT, that are already live on the platform.
Aritra Chakravarty, Founder & CEO of Project Imagine said: “This is an exciting time for Project Imagine – as with these strategic partnerships, our digital banking platform Pi1 can provide clients with a full range of solutions including issuing, processing, and agency banking; enabling clients to enter the market in as little as 90 days”.
Ian Johnson, Managing Director Europe at Marqeta said: “The Marqeta team is delighted to be Dozens’ chosen payment processor and is enthusiastic about the promise to work with new Pi1 clients in the future. We believe Marqeta’s cutting- edge processor abilities complement the technology offering of Pi1”.
Bill Gibson, Business Development Director at TagNitecrest said: “We’ve had a strong partnership with Project Imagine to date, and the TagNitecrest team are extremely excited to continue this journey with the new Pi1 service offering. We will continue to deliver leading card printing techniques and to play our part in helping Project Imagine to drive innovation and to facilitate change across the industry”.