- Brim Financial has partnered with Mastercard.
- Brim Financial will embed Mastercard’s open banking capabilities into its own platform.
- “This partnership with Mastercard will be transformational for companies seeking a sophisticated, modern credit card platform to better serve their customers,” said Brim Financial Founder and CEO Rasha Katabi.
Credit-card-as-a-service Brim Financial announced it has partnered with Mastercard this week. Under the partnership, which aims to fuel innovation in U.S. credit card platforms, Brim will embed Mastercard’s open banking capabilities into its own platform.
“There is significant momentum happening in the U.S. market when it comes to innovating credit card infrastructure across consumer, small-and-medium-sized-business, and commercial segments,” said Brim Financial Founder and CEO Rasha Katabi. “This partnership with Mastercard will be transformational for companies seeking a sophisticated, modern credit card platform to better serve their customers.”
Canada-based Brim was founded in 2015 and provides a credit-card-as-a-service offering for organizations including Air France KLM and Canadian Western Bank. With Brim’s platform, clients can deploy, run, and scale their own branded commercial and consumer credit card offering quickly.
By adding Mastercard’s open banking capabilities to its platform, Brim will provide clients with a more seamless payment experience by embedding payment solutions across its end-to-end platform. “In partnership with Brim, we’re able to help our customers and partners remain competitive, with innovative payment solutions that create seamless, secure experiences,” explained Mastercard EVP of North America Business Development Hunter Woolley.
Mastercard became more involved in the open banking scene after it acquired Finicity in 2020 in an $825 million deal. Mastercard currently partners with brands including Brex, LoanPro, and Experian to help connect their customers’ permissioned financial data to their app. Mastercard is currently connected with 95% of financial institution accounts in the U.S.