Deserve, a fintech company transforming credit cards into mobile-centric software, has received a strategic investment from Visa to expand access to Deserve’s credit-card-as-a-service for financial institutions, fintechs and brands.
Visa joins other investors including Mission Holdings, Mastercard, Ally Ventures, Goldman Sachs Asset Management and Sallie Mae.
“This investment validates the industry’s embrace of a digital-first, embedded approach driven by APIs and SDKs,” said Kalpesh Kapadia, Deserve Co-Founder and CEO. “We’re transforming credit cards into software that lives on mobile devices not in wallets.”
Last year, Visa selected Deserve as a launch partner for its Fintech Fast Track program, which supports digital payment innovation by making it simple to collaborate with Visa and launch new fintech products.
Earlier this summer, under the Fintech Fast Track program, Deserve partnered with BlockFi and Visa to launch the world’s first credit card with Crypto rewards, which has set new benchmarks in adoption and usage.
“Visa’s Crypto team collaborated with BlockFi and Deserve to launch a crypto rewards credit card that would appeal to crypto enthusiasts and introduce crypto to the masses,” said AJ Shanley, Vice President of Crypto at Visa.
