Mastercard Enhances Product Express Platform for Quick and Transparent Card Program Launches

Published on October 24, 2024

Mastercard has expanded its Product Express platform to accelerate fintech innovation across Africa, the Middle East, Europe, North America, and select markets in Latin America. This move is aimed at streamlining the process for fintech companies to launch card programs quickly, through a simplified and transparent approach.

The Mastercard Product Express platform is specifically tailored to support fintechs by providing the necessary tools, resources, and partnerships required to reduce time-to-market. It helps companies scale by offering a seamless process to develop and roll out card programs that meet their unique needs.

With Product Express, fintechs can easily choose from a variety of products, select pre-approved partners that are ready to implement, and access features such as live BINs and customizable card designs. The platform ensures full visibility into each stage of the process, allowing for efficient tracking and coordination among all involved parties. By leveraging this solution, fintechs can launch card programs in as little as 15 days, significantly speeding up the time it takes to bring their innovations to market.

Jennifer Premisler, senior vice president of Fintech Solutions at Mastercard said: “We are thrilled to be expanding the reach of the Product Express to more partners, more regions and more solutions. By creating a better experience for all parties, we foster innovation and reduce time to market.”

Ricardo Dantas, CEO of Foxbit in Brazil said: “The partnership with Mastercard through the Product Express platform brought many benefits to Foxbit. The onboarding process was simple and efficient, allowing quick and secure integration into Mastercard services. The platform not only expedited our entry into the global payments ecosystem but also strengthened our ability to offer innovative and trustworthy solutions in the crypto market.”

The platform also enables partners to provide outstanding services, helping fintech clients thrive in a highly competitive landscape. In just the first year of its launch, Mastercard has successfully onboarded key industry players such as BIN Sponsors, Processors, and Program Managers to the platform. Notable partners include Blusalt, Episode Six, FOO, Giftstarr, i2c Inc., Nymcard, Optimus, Paymentology, and Wema Bank. These collaborations empower fintechs with the tools and expertise needed to elevate their offerings and succeed in the fast-paced financial services market.

Jacqueline White, president of i2c, said “Mastercard Product Express delivers the simple, fast and transparent experience that customers have come to expect from other industries. The experience we provide to fintechs makes us stand out from competition and enables rapid innovation. Everyone at i2c is very proud to be the first processor in the United States to support the program.”  

In addition to card issuance, Product Express will soon expand to offer seamless, fast, and transparent onboarding for a variety of global payment acceptance solutions. This will include a wide range of Acceptance services available worldwide, as well as enterprise payment solutions through Mastercard Gateway. The Gateway provides a single, streamlined connection, enabling businesses to accept payments globally and effortlessly enter new markets, helping them grow and scale with ease.