Cloud fintech myTU has attained principal member status with Visa Europe, enabling it to issue Visa cards directly to clients without third-party involvement.
Whilst already serving customer debit cards across Europe, the membership at Visa allows myTU to design and implement its own card programs and customise features to bolster its business strategy.
The achievement reinforces myTU’s “high standards of security, resilience, and compliance” in its payment operations, opening new ways for the fintech startup to differentiate its brand via enhanced control and flexibility of payment services.
In addition, myTU boosts its ability to remain competitive with access to Visa’s technologies and innovations via the Visa API. With greater flexibility to develop new financial products, myTU expects to maintain leadership in its market segments through advances in payment security and mobile payments.
Raman Korneu, CEO and Co-Founder of myTU, commented: “We’re very proud of this achievement, which involved passing a rigorous audit by Visa to ensure myTU is compliant with operational and regulatory requirements.
“We now have direct access to Visa’s widely accepted and secure card scheme. It also gives us early access to important payment innovations, such as the Visa Token Service, that will ensure myTU remains at the front of innovation.”
In separate developments, myTU says it expects to integrate with Google Pay and Apple Pay within Visa Token Service in the first quarter of 2024. It also announced that it has got its Visa issuance licence passported across the entire European Economic Area (EEA).
Korneu recently spoke to Payment Expert on the company’s transition from travel and hospitality payments to family banking operations, as well as the importance of moving its tech stack in-house.
