Payments

Mogo expands its Subsidiary Modern Card Issuing Platform ‘Carta Worldwide’ into U.S. Digital Payments Market

Mogo Inc. a popular digital payments and financial technology company has announced its expansion. The expansion is going to take place of its wholly-owned subsidiary, Carta Worldwide (“Carta”), which is a modern card issuing platform in the U.S. – the world’s largest payments market. In this, Carta will commence deploying innovative card products for its initial group of clients in Q1 2021. By doing this, it can expect to further expand its customer base of banks and fintech companies in the approaching quarters.

Carta’s modern open-API issuer platform is considered to be the engine behind innovative fintech companies and products globally. It has been allowing above 100 card programs and providing important processing technology to industry leaders, including Sodexo, TransferWise, Payfare, and others. Founded in 2007, Carta’s management team has decades of experience in the payments and technology industry. Carta is presently operating in regions such as APAC, Europe, Canada, Latin America, and now in the U.S. In these regions, it will represent the largest portion of the US$500 billion1 North American payments market.

For this event, Greg Feller, President of Mogo mentioned that the launch is a very significant milestone for Carta as it builds its presence in the massive and mounting global market for next-gen payments programs. The company is foreseeing its expansion which is being bolstered by the latest industry tailwinds, which is ideally suited for digital payments innovators. By this, it is positioning itself to accelerate more growth possibilities.

Besides, Carta will enable the issuance of virtual and physical cards in order to support innovative solutions for businesses that are looking to arrange payment products and financial services. Here are the benefits of enabling Carta:

1. Fintechs and other bank platforms can rapidly develop and deploy innovative solutions powered by Carta APIs.
2. Adding U.S. market support will help clients to simplify their international roadmap when launching and scaling new card programs. This includes support for Latin America, Canada Europe, and APAC.
3. Utilizing Carta’s global platform and Card Issuing APIs, clients can get the advantage of track-record of powering the world's leading multi-currency card products powered by Carta. Also, to take advantage of innovations to support the crypto currency.

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