Mogo's Carta Worldwide expands into U.S. digital payments market
Mogo, a FinTech company, offering customers solutions to manage and control their finances through its mobile app, has announced that its wholly-owned subsidiary, Carta Worldwide, a modern card issuing platform, is expanding into the U.S.
Founded in 2007, Carta is a leader in digital transaction processing and enablement technologies, including cloud-based payments and Host Card Emulation (HCE), tokenization, and value-added services such as digital offers, loyalty and stored value solutions. Its open-API issuer platform is the engine behind innovative global fintech companies and products, powering over 100 card programs and providing vital processing technology to industry leaders, including Sodexo, Payfare, TransferWise, and others.
The firm will begin deploying card products for its initial group of clients in Q1 2021 and expects to further expand its customer base of banks and FinTech companies in the later quarters. Carta is currently operating in Latin America, Canada, Europe, APAC, and now in the U.S., which represents the largest portion of the $500 bn North American payments market.
â€œThis represents a very significant milestone for Carta as it builds its presence in the massive and rapidly growing global market for next-gen payments programs. Bolstered by these industry tailwinds and its robust platform, which is ideally suited for digital payments innovators, the company is seeing its pipeline expand and is positioned for accelerating growth,â€ said Greg Feller, President of Mogo.
Carta enables the issuance of virtual and physical cards to support innovative solutions for businesses that are looking to deploy payment products and embedded financial services