Paymentology and Tutuka, are merging to become a new payments and card processing powerhouse, upending the hottest area of the fintech business.
Rowan Brewer, CEO at Paymentology, said: “Banks and fintechs are racing to provide customers with digital and data-driven features. They are highly receptive to working with a single issuer-processor that can provide that, across the globe.”
“People want to be able to pay with a virtual card – sometimes online, sometimes tapping their phone –but everything, digitally. Banks, digital banks and fintechs need support and expertise to help them issue cards and process payments.”
The combination, which will be known as Paymentology, would give banks and fintechs the technology, staff, and experience they need to issue and process Mastercard, Visa, and UnionPay cards in 49 countries.
The move brings together the ultra-advanced, multi-cloud platform of Paymentology, with the global reach and experience of Tutuka.The merger creates a powerhouse ofover 270payments and technology experts,working across both developed and emerging markets, serving customers in 49 countries, across 14 time zones. And, a platform that is already processing USD 10 billion in transactions each year.
To access a worldwide market, banks and fintechs had to engage with a variety of card processors previously. They can now integrate into a single API, go online, and issue cards practically anywhere in the world thanks to Paymentology. Then quickly scale beyond that, as Paymentology may process client cards on the company’s shared infrastructure and upgrade clients to a dedicated platform exclusively for them, or in certain countries– a service that no other processor offers.
