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Harness power of API-first card issuing approach for customized future-ready experience

The following is a guest post by Anil Goyal, CEO at Corserv.

Adopting an API-first approach to card issuing allows financial institutions (FIs) and fintechs to create personalized, flexible, and innovative payment solutions tailored to their customers’ needs.

Delivering custom payment card products and services improves customer experience, increases loyalty, and enhances retention rates.


APIs have revolutionized the card issuing landscape by enabling FIs and fintech companies to tap into powerful technology platforms and systems, accelerating integration and fostering scalability.

The API-first approach delivers critical benefits, including lower costs, time savings, and increased control, regardless of their business model.

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APIs for all processes

Among the various aspects of payment processes that can be controlled and customized using APIs are:

  • Different Card Types: Choose credit, debit, and prepaid with virtual or physical cards to cater to product needs.
  • Flexible Accounts: Configure account structures, fees, and features to suit specific customer segments.
  • Spend Controls: Implement spending limits, transaction restrictions, and real-time alerts to help customers manage their finances effectively.
  • Account Hierarchy: Design and manage complex account relationships, such as parent-child or multi-tiered company structures.
  • Cooperative Authorization: Enable joint transaction decision-making by integrating multiple stakeholders into the authorization process.
  • Mobile Wallets: Facilitate seamless integration with popular mobile wallet platforms, offering a convenient and secure payment method.
  • Product Configuration: Customize card product features and benefits, such as rewards programs and interest rates, to create tailored offerings.

Robust API ecosystem

In addition to these configurable elements, APIs for card issuance also enable FIs and fintech companies to manage crucial operational aspects, such as card activation, PIN resets, and card re-issuance.

Furthermore, a robust API ecosystem typically provides access to essential data and services that drive tailored payment solutions, including:

  • Know Your Customer (KYC): Streamline customer onboarding by integrating with identity verification and risk assessment tools.
  • Fraud Management: Implement advanced fraud detection and prevention mechanisms to safeguard customer accounts and transactions.
  • Dispute Handling: Automate the dispute resolution process, ensuring timely and efficient handling of customer complaints.
  • Settlement: Streamline the financial reconciliation process by automating settlement activities and integrating with relevant payment networks.
  • Transaction Insights: Access comprehensive transaction data and analytics to monitor customer spending patterns and inform product development.

By choosing an API-first approach to card issuing, FIs, and fintech companies can reap numerous benefits, including reduced time to market, increased control and flexibility, enhanced scalability, improved customer experience, and cost savings.

By leveraging a feature-rich API ecosystem, these organizations can focus on their core competencies while tapping into a scalable, secure, and easy-to-integrate platform for card-issuing services.

  • Anil Goyal

    Anil co-founded Corserv, a company that empowers banks and fintechs with payment programs, in 2009 and currently provides strategic leadership as the CEO. He has a deep background in risk management, marketing, technology and portfolio optimization.