Paymentology, audax, and Mastercard Launch Report Highlighting the Future of Payments with Cards-as-a-Service (CaaS)

Paymentology, the leading global issuer processor, in partnership with audax, a comprehensive digital banking technology solutions provider backed by Standard Chartered, and Mastercard, a global leader in payment technology and network solutions, announces the launch of a new report titled "Understanding Cards-as-a-Service (CaaS) and the Power of Strategic Partnerships." The report highlights the transformative potential of CaaS in enabling banks and fintechs to become distributors of payment services to industries across the board, unlocking new revenue streams and driving growth in the digital economy. As the global payments landscape continues to evolve, this reports highlights how CaaS enables financial institutions (FIs) to streamline card issuance, enhance operational efficiency, and improve customer experience to stay competitive in this digital era. The global payment processing market, which includes CaaS, is expected to grow from $55tn in 2024 to $79tn by 2029, at a compound annual growth rate (CAGR) of 7%, regions like APAC and Latin America are leading this shift, with the Middle East emerging as a region of significant opportunity. This partnership leverages Paymentology’s scalable card processing capabilities, audax’s end-to-end banking solutions for digital card programmes, and Mastercard’s extensive global merchant network, delivering a comprehensive and secure CaaS platform. Together, they provide FIs the tools to simplify and accelerate card issuance, ultimately positioning FIs to act as powerful enablers of digital transformation in payments. The whitepaper, specifically designed for banks and financial institutions, delves into the pivotal role CaaS plays in reshaping the payments landscape - companies that implement CaaS can see a reduction in time-to-revenue by up to 50% compared to traditional methods, with new issuers benefitting from card programmes much sooner. The report includes case studies showcasing past successful implementations of CaaS by leading banks, fintechs and platforms, illustrating how this model has empowered them to adapt to shifting market dynamics and rising customer expectations. These case studies provide tangible examples of how CaaS has driven value, such as:

• Instant Issuance and Flexibility: CaaS enables businesses to issue and manage payment cards with speed (launching in days instead of weeks), removing the need for costly and time-consuming traditional models.
• Rapid Time-to-Market: Through cloud-based infrastructure, CaaS solutions reduce the time required to launch card programmes, giving financial institutions a competitive edge.
• Operational Efficiency: CaaS offers seamless scalability, allowing institutions to expand their card programmes without the resource-intensive overhead of legacy systems.
• New Revenue Opportunities: By adopting CaaS, financial institutions can tap into new revenue streams, offering tailored card solutions to a diverse range of industries.
• Enhanced Customer Experience: Personalisation and convenience are at the heart of CaaS, helping businesses meet evolving customer expectations while maintaining the highest security standards.

Merusha Naidu, Global Head of Partnerships at Paymentology: "The launch of this report comes at a crucial time for financial institutions looking to stay ahead in the rapidly changing payments landscape. CaaS is not just a new model; it’s a strategic imperative for banks and fintechs aiming to streamline operations, accelerate time-to-market, and create personalised payment solutions.” Mike Breen, Chief Commercial Officer at audax: "CaaS isn’t just about operational efficiency—it’s a strategic pivot that enables banks and fintechs to unlock new revenue streams, meet the expectations of digital-first consumers, and future-proof their payment capabilities. Through our partnership with Paymentology and Mastercard, we’re empowering institutions to deliver seamless, innovative card solutions with agility and scale.” Gaurang Shah, Executive Vice President, Product and Engineering, EEMEA, Mastercard: "CaaS represents a game-changing approach to card issuance and payment services, allowing financial institutions to meet the growing demand for flexible, digital-first solutions. By leveraging this model, institutions can focus on customer engagement and innovation, while their CaaS partners handle the operational complexities.” To download the report, visit: https://www.paymentology.com/report/card-as-a-service