August 17th, 2022. Cambridge, UK: Monavate and Diners Club International®, a part of Discover® Global Network, today announced a strategic partnership set to further expand the reach of this globally-recognized brand in Europe.
Monavate, the Fintech-led card issuer, will now give its clients the ability to issue Diners Club® Cards in Europe faster and simpler than ever before, within its full end-to-end program management platform. Those wishing to do so can now issue Diners Club Cards alongside a host of core and value-added issuing and processing services – all in a single place.
Scott Lucas, Chief Commercial Officer, Monavate said: “Banks, fintechs, retailers and others are realising that payments are critical for building closer customer relationships. And customers increasingly demand choice. By partnering with a globally-recognized brand like Diners Club, our clients have yet more choice in the way they serve their customers, and facilitate their evolving payments needs.”
Monavate enables various embedded finance propositions, supporting Defi and FIAT propositions alike – from BIN sponsorship, full end-to-end card program management services, and a range of sector differentiating value-added services all within a single platform. Monavate have issued over 2.5 million cards to customers across Europe in their first year of operation.
“Partnership and collaboration are the values that power payments innovation, and drive business growth for our network partners,” said Tribh Grewal, director of international markets at Discover Global Network. “The payments landscape is constantly evolving with new models and opportunities. We are always looking for the right partnerships to realise these opportunities and to provide innovative products and services . Our relationship with Monavate is another step towards delivering expanding services and payment experiences for Discover Global Network.
Discover Global Network, the payments brand of Discover Financial Services, connects three payment networks, Discover Network, PULSE, Diners Club International, and more than 25 Alliance Partners from around the world, enabling acceptance at more than 60 million locations worldwide.
Monavate provides everything needed to set-up, launch, optimise and scale a card product, in a single place. We’ve replaced a traditionally fragmented, confusing supplier landscape, with a single, fully integrated platform that meets every issuing need.
Our fully managed end-to-end issuing platform has all the features you’d expect (BIN sponsorship, card issuance, fraud services, cloud-based processing, card bureau integration, data & analytics), plus a range of value-added issuing services from Credit-as-a-Service to IBANs and DeFi support.
Monavate is regulated by the UK Financial Conduct Authority as an e-money institution, and is a principal member of Mastercard, Visa and Discover.