Intercash: Simplifying the Card-Issuing Process for Financial Institutions

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Aaron Gladman, CEO, Card Division
Financial institutions are striving to simplify the card-issuing process in order to provide seamless cash accessibility to the end customers, but there are many daunting hurdles that often stand in their way. A small or medium-sized bank in the UK, for instance, might have to endure difficult negotiations for 12 months or more simply to become a Principle Member with Mastercard or Visa. That is not all; a bank also needs to spend a minimum of $500,000.00 for the initial payment setup and dedicate ample resources for systems and integration testing. Even after all this, their card-issuing program will still remain localized to the UK market, as they have little knowledge of the regulations in other countries while their banking license and scheme membership will only be valid within the UK. With all of these challenges, financial institutions and tech firms offering core banking technology are in dire need of help to support global card payments and successfully expand to new countries and jurisdictions.

With over 20 years of experience in the payment industry, as well as with smart card payment solutions and customized services, Intercash is turning the corner for financial institutions, fintech solution providers, and commercial businesses. “Intercash's end-to-end payment services and tailor-made card issuing solutions allow our clients to remain focused on their core banking offering, customer experience and growth, while we manage the entire process and complexities of working with Visa and Mastercard,” says Michael Doctor, Director of Marketing at Intercash.

With its customizable turnkey solution, Intercash does the heavy lifting of setting up the card program, so its clients don’t have to. “Using our pre-built, proprietary core technology, we coordinate with a cornucopia of global banks, processors and card bureaus to wade through laborious documentation for KYC, fraud monitoring, technical integrations, and other formalities,” says Aaron Gladman, CEO, Card Division. As Intercash’s solution completes most of the legwork, clients can simply issue customized Mastercard or Visa cards to their beneficiaries. Additionally, card programs can be delivered in a number of different currencies. “All this is made possible because of our team’s subject matter expertise, knowhow, technology, partnerships with a global network of banks, and personal experience in tackling the regulatory requirements of nearly every region in the world. We share the experience with our clients throughout their journey,” adds Gladman. “Our global network of Mastercard and Visa partners acts as a shot in the arm for our clients.”

Unlike commercial organizations, financial services firms and fintech companies handle different types of complex customer accounts and e-wallet services, among other financial products. As such, they require a bespoke solution to manage card payments. Stepping up to the challenge, Intercash allows these clients to integrate its solution into their banking platform with a suite of API’s that keep the customer journey unified.

Intercash's end-to-end payment services and tailor-made card issuing solutions allow our clients to remain focused on their core banking offering, customer experience and growth, while we manage the entire process and complexities of working with Visa and Mastercard

As a result, they can provide their customers with a Mastercard or Visa card, while keeping worries such as cost, technology, regulatory, and knowledge gaps at bay.

Apart from offering nextgeneration solution, Intercash is a client-centric company that takes a consultative strategy to better understand the unique needs of its clients. What features and functionalities do you want to have in your payment card? What is the fee structure you have in mind? What is the desired user-journey? Grasping all this information and more, Intercash uses its suite of API’s to integrate custombuilt card solutions for its clients. This allows clients to issue cards quickly and cost-effectively.

What’s more, Intercash provides superior customer service, including accounting, compliance, risk, and support, to manage customer requests and provide security around account transactions. It also offers an optional white-label online and mobile banking portal through which end customers can check their balance, transfer money, view transaction history, report lost or stolen cards, and contact support for other queries.

In a recent case study, Intercash became the saviour for a bank that was losing its ground in the market to its contemporaries. The reason for the loss: the bank was not associated with the Mastercard or Visa networks. Intercash acted as the bridge between the bank and both payment networks, as they offered the full gamut of integrated card solutions and allowed the client’s beneficiaries to make corporate and personal purchases quickly and conveniently to complete the full banking experience.

Moving forward, Intercash aims to enhance its range of offerings and expand its presence in the financial services industry. “We aspire to provide full banking services in the future,” concludes Gladman. In the meantime, Intercash is prepared to support the needs of any financial institution or core banking technology firm, leveraging their experience, flexibility, and global reach to develop customized card programs quickly and easily.


London, England

Aaron Gladman, CEO, Card Division

Intercash is a global financial technology company, specializing in payment management and services. Our particular niche is in the card issuing vertical, with over two decades of experience managing card issuing programs with Mastercard and Visa for regulated banks throughout the world. Our strength is in our flexibility, as we have the capacity to develop global card issuing solutions that are tailored for your business. We also allow financial institutions to customize their cards in order to maintain their branding. We offer a full turnkey solution and can assist with all the technology and services needed to manage a complete card issuing program.