LoanPro, renowned for its scalable lending platform, has augmented its credit card platform by announcing a strategic integration with Visa, one of the foremost global issuers of debit transactions.
Visa DPS (Debit Processing Service) stands as a prominent player in processing Visa debit transactions worldwide. Through this collaboration with LoanPro, companies are poised to streamline the launch, servicing, and management of card programs, marking a significant advancement in financial technology.
A notable feature of this integration is Transaction Level Credit™, introducing a higher level of precision in transaction management. It empowers card programs to tailor interest rates, credit limits, and grace periods based on specific transaction parameters, enhancing operational flexibility and customer-centricity.
In the evolving fintech landscape, there’s a notable shift towards credit, spurred by challenges related to debit card fees and the burgeoning popularity of pay-by-bank services. LoanPro’s innovative program addresses these dynamics, facilitating a smoother transition for companies venturing into credit services.
Traditionally, lending, including credit cards, has been a primary profit center for banks. With the rapid evolution of fintech, it’s increasingly foreseeable that this trend will extend to fintech companies, solidifying credit as a pivotal aspect of their revenue streams.
Related topics:
