Product: Instant Issuance
Company: Apto Payments Inc.
Apto Payments, a next-generation card and payments platform, launched its Instant Issuance platform, a self-serve solution designed to enable merchants, financial institutions and all types of businesses to issue debit cards. The company stated that first-time users and developers can use the platform to design and launch a market-ready debit card program in record time.
Meg Nakamura, co-founder and chief executive officer at Apto Payments, noted that card issuance has historically been the province of large financial institutions with the capacity to deal with compliance and logistics hurdles. "At Apto, we believe card issuance is overdue for an update," she said. "With our Instant Issuance platform, we are not only making the process easier, but fairer and more equitable."
Mike McCarthy, head of business development at Apto Payments, agreed, stating that Apto has been at the cutting edge of card issuance for several years. "We have always been committed to making card issuance possible for underserved companies and use cases," he said. "Initially, this led to our focus on cryptocurrency programs, and we built the first bitcoin debit card. Now we are expanding our purview and making card issuance possible for companies who, due to scale or other requirements, would not be served by the larger players in the industry."
McCarthy pointed out that Apto's Instant Issuance platform is designed to give end-users a frictionless, self-serve experience. Developers can get a fast start by using the platform's sandbox and easily switch to production mode to customize cards, onboard users and track sign-ups and revenue, he noted.
"Instant Issuance makes card issuance accessible to companies of all kinds and sizes," McCarthy said. "Now, alongside the larger enterprise programs we have run for the last several years, we are able to empower a larger array of companies to issue cards using Apto."
In addition to speed to market, Instant Issuance gives developers access to a full suite of APIs, SDKs, and a white label app, McCarthy stated. The platform gives users a virtual bank account, transparent pricing and white-label support without requiring upfront commitments or minimum volumes. Its ease of use and modular design makes it simple for partners to resell as a service to their own clients, he added.
Apto's Instant Issuance replaces slow, complex and expensive card issuance with a system that is fast, easy and fair, McCarthy noted. The platform is PCI DSS-compliant and offers tools to manage chargebacks and disputes. Users who visit the platform and sign up for a card receive a virtual bank account linked to the card, which they can fund with instant debit card transfers, ACH and direct deposit, she pointed out.
Greg Kidd, co-founder at Apto Payments, described the platform as a key milestone in democratizing financial services and improving accessibility for players of all sizes and categories.
"Apto has always been at the cutting edge of card issuance, having created the first bitcoin-backed debit card and worked on programs for many early innovators in the payments space," Kidd said. "By lowering the barriers for companies to enter the market quickly, we are continuing to change the game and move the payments industry forward."
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