More and more companies are seeing the value of adding card products for their existing customer set. Embedded finance is a term you’ll hear a lot these days which means a company that focuses on a specific area (Uber or Airbnb) decides to roll out a financial product to their large customer base.

Creating a new card program is complex. You’ll need to select a card issuer, a processor, a network (Visa or Mastercard). You’ll need to consider physical plastic design, customer UI/UX, KYC, customer support, managing chargebacks and the list goes on. But the value these programs can deliver can be significant across both customer loyalty and revenue back to your organization.

Are you going to offer lines of credit to your customers (credit card) or have them deposit funds onto their cards (prepaid or debit)?

Do you want to own the entire customer experience or outsource it to a third party?

How will you market and grow your card program?

The data you can gather from card transactions can be valuable in other areas of your business.

You will earn revenue from the interchange on every transaction. For revolving credit cards, you will earn interest income. But those credit programs are significantly more complicated to launch and manage.

b7 can offer guidance as you look to stand up a card program. We have experience setting up dozens of prepaid, credit and debit card programs from incubation through to fully scaled programs.