Launching a card programme can be an exciting step for a fintech or business. It can create new revenue opportunities, strengthen your customer proposition and make payments a more integrated part of the experience you offer.
But there’s a lot happening behind that card.
From regulatory requirements and card issuing to processing, technology and programme management, bringing a card proposition to market requires the right combination of infrastructure, expertise and partnerships.
At Not Your Usual Fintech Consultancy, that’s exactly the ecosystem we help businesses navigate. We help you define what you’re trying to build, understand the regulatory, technology and operational requirements, explore the different options available and identify the right partners to bring the programme to life.
So, what should you consider before launching a card programme in the UK?
First, be clear about what you’re building
It sounds obvious, but the card itself shouldn’t be the starting point.
Start with the customer and the problem you’re solving.
Is the programme for consumers or businesses? Do you need physical cards, virtual cards or both? Debit, prepaid or another model? Will customers need payment accounts, digital wallets or IBAN functionality alongside their cards? Is this a UK-only proposition, or do you expect to expand internationally?
These decisions shape almost everything that follows, from your regulatory model and card issuing partner to your payment infrastructure and commercial structure.
This is why effective card programme enablement starts with defining the proposition before choosing providers.
Do you need a licence to launch a card programme?
There isn’t one universal answer.
The regulatory structure depends on what your business actually does within the programme. For example, who holds customer funds? Who issues the card? Who is responsible for regulated payment services? And which activities sit with your business versus a regulated partner?
An important part of designing the programme is deciding which responsibilities your business wants to manage itself and which should sit with your partners. That can include areas such as compliance, customer onboarding, programme management, technology, operations and customer support. These decisions help shape both the regulatory structure and the type of partners you need.
Depending on the model, FCA authorisation or registration may be relevant. Alternatively, a business may work with appropriately regulated partners rather than obtaining all permissions itself.
This is where understanding the wider fintech ecosystem becomes important. A card programme can involve an issuing bank or electronic money institution, BIN sponsor, processor, programme manager and other technology and compliance providers.
The goal isn’t simply to find a provider that can issue cards. It’s to build the right regulatory and operational structure for your proposition.
Choosing your card issuing and infrastructure partners
There are plenty of card issuing solutions for fintechs and businesses. The harder part is working out which solution actually fits.
Providers differ considerably in their capabilities, markets, technical requirements, commercial models and appetite for different use cases.
When assessing potential card programme partners, businesses should look beyond the headline cost. Consider questions such as:
- Does the provider support your target customers and use case?
- Which countries and currencies can it support?
- Can it provide physical and virtual cards?
- How easily can its technology integrate with your platform?
- What card controls and transaction data are available?
- What are the onboarding, compliance and implementation requirements?
- Can the infrastructure scale with your plans?
You should also consider the bigger picture. If digital wallets and IBAN solutions, cross-border payments or embedded finance are likely to become part of your proposition, those requirements should influence decisions made now.
Changing critical infrastructure later can be considerably harder than getting the ecosystem right from the start.
What if your card programme needs to be global?
Not every card proposition is designed for a single market. Alongside UK and European card programme solutions, businesses can now access global card issuing capabilities supporting approximately 49 countries, subject to eligibility and programme requirements.
Some of these newer global card models use stablecoin infrastructure behind the programme to support the movement of funds and settlement across markets. This infrastructure can operate in the background while the end customer continues to have a familiar Visa card experience, without needing to interact directly with stablecoins themselves.
For businesses considering international expansion, cross-border payments or a global customer base, these capabilities are worth considering from the beginning when designing the programme.
Don't overlook the customer experience
A successful card programme isn't judged by how impressive the infrastructure diagram looks. Customers judge what happens when they actually use it.
How quickly can they get started? Can they access a virtual card immediately? What happens if a payment is declined? Can they freeze their card? How are refunds handled? How easily can they see and manage their money?
Those experiences rely on multiple systems working together.
Cards may sit alongside payment accounts, digital wallets, IBANs and other embedded payment solutions. Behind the scenes, processing, reconciliation, compliance and transaction data all need to connect reliably.
That’s why we look at card programme enablement as part of the wider payment experience, rather than treating the card as a standalone product.
Make sure the numbers work
Card programmes come with a range of costs, from implementation and platform fees to card production, processing, compliance and ongoing programme costs.
Before committing to partners, build a realistic commercial model.
Look at expected customer numbers and transaction volumes, but also test what happens if growth is slower or faster than planned. Minimum commitments that seem manageable at scale can look very different during the first year.
The right partner needs to work commercially as well as technically.
You don't need to navigate the ecosystem alone
There’s no shortage of technology in fintech. The challenge is identifying what you actually need and bringing the right pieces together.
Our approach to card programme consultancy is practical. We help businesses define their proposition, understand the infrastructure and regulatory requirements, evaluate the options available and identify the right partners to bring everything together. That can include card issuing, payment infrastructure, digital wallets and IBANs, embedded finance and other supporting fintech solutions.
Thinking about launching a card programme? Tell us what you're trying to build, where you want to launch and who you want to serve. We can help you understand the infrastructure, partnerships and regulatory considerations needed to take it forward.
Talk to Not Your Usual Fintech Consultancy about your card programme.