- Business budgets and digital payments platform inbanx has partnered with Corserv.
- inbanx will leverage Corserv’s Payment Cards as a Service API to offer its business customers a Visa commercial credit card.
- According to Juniper Research, the number of payment cards issued via digital platforms will grow 170% between now and 2027.
Business budgets and digital payments platform inbanx is boosting its offerings today by partnering with card issuer Corserv. Texas-based inbanx is integrating Corserv’s Payment Cards as a Service API (PCaaSA) into its platform to offer a more holistic business payments platform.
Integrating Corserv’s PCaaSA will enable inbanx to offer a Visa commercial credit card to its business clients. The new modern payment card solution will offer real-time, configurable spend controls and cooperative authorization for businesses that rely on hierarchical approvals and spending limits.
“Our highly configurable PCaaSA platform simplifies complex processes for inbanx to launch and embed commercial cards in a secure, compliant and flexible way,” said Corserv CEO Anil Goyal. “We are thrilled to work with inbanx to integrate with their innovative budget and expense management solution.”
Founded in 2021, inbanx helps businesses budget, manage their card program, and control spending across teams. By automatically reporting the expenses, inbanx’s solution eliminates the need for employees to fill out manual expense reports.
“We serve our customers with an innovative and easy-to-use solution that adopts the next generation of payment capabilities to allow businesses and their employees to spend efficiently,” said inbanx CEO Rob Kaczmarek. “Corserv’s payment card platform was the only solution that afforded us the customizability and flexibility to build exactly what we needed for our customers.”
Corserv has been helping banks and fintechs offer issuing processing and program management services for credit, debit, and prepaid cards since it was founded in 2009. The Atlanta, Georgia-based company has raised $2.1 million in funding and recently named Anil Goyal as its new CEO.
Modern card issuing is a hot space in the fintech realm, especially as banking-as-a-service and embedded finance becomes more popular. Juniper Research expects the number of payment cards issued via digital platforms to grow 170% between now and 2027, increasing from 500 million in 2023 to 1.3 billion by 2027. Global leaders in the modern card issuing space include Thales, G+D, FIS, Fiserv, and Marqeta.