Pi1 signs card issuance partnership with Marqeta and TagNitecrest
Banking platform provider Pi1 has announced a new partnership with Marqeta and TagNitecrest to issue Visa debit cards.
Pi1 has its own primary Visa membership through its partner firm Project Imagine, which also runs challenger bank Dozens.
It says that the new partnership will enable it to extend its services to include BIN sponsorship.
“Our digital banking platform Pi1 can provide clients with a full range of solutions including issuing, processing, and agency banking,” says Aritra Chakravarty, founder and CEO of Project Imagine.
Pi1 clients can allow their customers to see card transactions on a map “from day one”. The firm says this enables “a reduced need for customer support calls”, and improved fraud detection.
Ian Johnson, managing director for Europe at Marqeta, says his firm is “delighted” to become the chosen payment processor for Pi1 and Dozens.
He adds: “We believe Marqeta’s cutting- edge processor abilities complement the technology offering of Pi1”.
Founded in 2017, Project Imagine has raised $18.8 million in funding across five rounds, with the latest coming in February.