Global issuer processors Paymentology and Tutuka are merging to create the first global issuer-processor that will cover 49 countries worldwide.
The two companies will operate under the Paymentology name and will provide banks and FinTechs with the technology, experience and team to issue Visa, UnionPay and Mastercard cards across the 49 markets.
According to Paymentology, its multi-cloud platform offers both shared and dedicated processing instances, vast global presence, and richer real-time data.
The merger will bring together over 270 payments and technology experts who will work across both developed and emerging markets.
The Paymentology platform already processes $10bn in transactions per year. The platform allows banks and FinTechs to integrate into a single API, go live and issue cards almost anywhere in the world.
Paymentology CEO Rowan Brewer 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.”
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