Curated News
By: NewsRamp Editorial Staff
November 05, 2024
Money Service Lab Launches New Licencing Model for Card Issuers
Discuss on Reddit
LinkedIn
Substack
TelegramTLDR
- MSL's licencing model allows entities to become their own card scheme processor, gaining independence and potential competitive advantage.
- MSL's platform offers three scenarios for clients, including managed processing, certified processor with client operation, and licencing to become a certified processor themselves.
- MSL's vision is to empower banks and issuers to take control of card systems, reduce costs, and provide better customer experiences globally.
- MSL's platform enables banks, credit card issuers, and tech companies to process their own cards, promoting independence and innovation in the financial industry.
Impact - Why it Matters
This news matters because it opens up opportunities for banks and issuers to take control of card systems, reduce costs, and create customized solutions for their customers. With the increasing number of card-based transactions, this move by MSL has the potential to reshape the payment processing industry and empower financial institutions globally.
Summary
The Money Service Lab (MSL) has launched a licencing model for entities to become their own issuing processor for major card scheme networks. With over 72 billion card transactions processed in Europe in 2023, the move aims to address the gap in the market for banks and issuers to become their own processor. MSL is offering a platform that caters to different scenarios, including managed processing as a service, certified processor with client-run platform, and the ability to licence the platform to banks and issuers.
Source Statement
This curated news summary relied on this press release disributed by News Direct. Read the source press release here, Money Service Lab Launches New Licencing Model for Card Issuers
