Mastercard Announces 5-Year Global Partnership with Zeta
Zeta and MasterCard logos

Mastercard Announces 5-Year Global Partnership with Zeta

It looks as though we can expect plenty more credit card options from FinTech firms and neobanks in the near future. Recently, Zeta announced a five-year global partnership with Mastercard. As a result, the two companies will launch credit cards using Zeta’s technology that operate on the Mastercard network. In addition to the partnership, it was also revealed that Mastercard has made a financial investment in Zeta. According to Crunchbase, that investment amounted to $30 million. This brings the company’s total funding to date up to $340 million, including a $250 million Series C in May of last year. The company is currently valued at $1.45 billion.

Zeta (not to be confused with the couples-focused personal finance app) is a FinTech that helps issuers launch “next gen credit cards.” This includes offering an API-enabled stack for processing, issuing, lending, and more. As it stands, Zeta has worked with 30 FinTechs and eight issuers in six countries to issue more than 10 million cards that are used for more than 300 million transactions per year.

Explaining more about what the company has to offer, Zeta co-founder and CEO Bhavin Turakhia said in a statement, “With Zeta’s next-gen credit card processing platform, we are fundamentally rewiring how issuers launch credit card programs by offering new paradigms over legacy mainframe systems. Amongst other benefits, our stack allows issuers to increase the lending book by composing contextual upsells using our extensive APIs and SDKs; reduce costs via pay-as-you-go SaaS billing; improve customer satisfaction by launching rich, self-serve experiences for card holders; and launch and iterate faster using our infinitely scalable cloud-native deployment.”

Commenting on the new partnership, Turakhia stated, “In Mastercard, we have a partner that is committed to undertake this journey with us and truly believes in this mission.” Meanwhile, Mastercard EVP of Products & Innovation for Asia Pacific Sandeep Malhotra said of working with the FinTech, “By deploying Zeta’s credit processing stack, issuers will have an opportunity to grow their user base, drive higher usage and enter new geographical markets, all while accelerating the cashless revolution around the world.”

The partnership between Zeta and Mastercard comes as several FinTechs have begun rolling out credit card options following many a foray into the world of debit cards. For example, SoFi officially launched its credit card last year. Meanwhile, the environmentally-minded neobank Aspiration rolled out its credit card offering earlier this year. Incidentally, both products are Mastercards.

With the backing (and investment) of Mastercard, Zeta seems well-positioned for a true breakout moment. Seeing as the FinTech sector only continues to grow, surely there are many startups looking to shake up the credit card market. With that, expect to see such a scenario play out in the year ahead.

Leave a Reply

The "Email" field is empty, you must enter some text to proceed.The text you entered in the "Email" field appears to be invalid, please edit it and try again
Get the Latest News Delivered to Your Inbox

A Guide to Building Credit and Increasing Your Credit Scores

When it comes to credit, there’s some good news. The average credit score in the United States has been steadily rising in recent years, coming in at 715 in 2023. That may be because, today, consumers not only have more ways to access their credit reports and scores than ever before but also because there are an increasing number of options that Americans have for building credit in the first...

2024 SoFi Checking and Savings Review

Ever since I started taking an interest in the FinTech sector, one company whose name I’ve seen pop up over and over again is SoFi. Lately it seems as though that theme has been sent into overdrive as the company has not only become a household name thanks to its stadium naming rights deal but also because of the company’s continued product expansions. The most interesting development in my mind...
Brim logo

Brim Financial Raises $85 Million as It Eyes Global Expansion

Toronto-based FinTech infrastructure startup Brim Financial has announced a new funding round. About the round: Brim has revealed an $85 million round. The Series C was led by EDC Investments while new investor Vistara Growth and returning investors White Owl Group, Epic Ventures, and Zions Bank also participated. To date, the company has now raised $110 million including a Series B in 2021. According to Brim, the latest funding will...
Chase Freedom Flex card

Chase Reveals Q2 2024 Freedom 5%(+) Bonus Categories

Chase has announced its bonus category picks for the second quarter of 2024 — including some interesting twists. About the categories: As April approaches, Chase has revealed what categories Freedom and Freedom Flex cardholders can earn bonuses on. From April 1st through June 30th, customers can earn 5% (or more) in three categories:, Hotels, and Restaurants. Similar to how Chase embraced a "New Year, New Me" theme last quarter,...
Rent Day

Bilt Announces Home Collection Deal for May 2024 Rent Day

For May's Rent Day, Bilt is offering a deal that will allow members to decrease their rent bill while also adding to their home decor. About the Home Collection offer: Bilt has crafted a unique Rent Day offer for May 2024. Through the 1st, when Bilt members redeem their points toward rent payments, they'll receive the same number of points to be used toward Bilt Home Collection items. To take...