Paymentology and Tutuka form new ‘payment powerhouse’
Paymentology and Tutuka, two of the world’s leading issuer processors, are merging to create a new payments and card processing powerhouse.
Operating under the Paymentology name, the merger will give banks and fintechs the technology, team and experience to issue and process Mastercard, Visa and UnionPay cards, across 49 countries.
Providing customers with data-driven features
It brings together the advanced, multi-cloud platform of Paymentology, with the global reach and experience of Tutuka. The merger creates ‘a powerhouse’ of over 270 payments and technology experts, working across both developed and emerging markets, serving customers in 49 countries, across 14 time zones - and a platform that is already processing USD 10 billion in transactions each year.
Rowan Brewer, CEO at Paymentology, said: “Banks and fintechs are racing to provide customers with digital and data-driven features. They are highly receptive to working with a single issuer-processor that can provide that, across the globe.
“People want to be able to pay with a virtual card – sometimes online, sometimes tapping their phone – but everything digitally. Banks, digital banks and fintechs need support and expertise to help them issue cards and process payments.”
Merging for a wider reach and improved technology
A financial services company, Tutuka provides payment processing technologies, software and services, and application programming interfaces (APIs) for e-commerce and digital transacting. Tutuka enables its clients to easily and rapidly create, issue and manage virtual or physical cards, as well as other payment systems.
Through Paymentology, banks and fintechs will be able to integrate into a single API, go live and issue cards almost anywhere in the world. They will also be able to rapidly scale, as Paymentology can process client cards on the company’s shared platform, and upgrade clients to a dedicated platform just for that client, or in particular countries – a feature not available through any other processor.