LAS VEGAS – Newline™ by Fifth Third, in partnership with Visa®, today announced that eligible fintechs can offer Visa corporate cards for approved business use cases in over 40 countries through Visa's Multinational Program (MNP). That’s more countries than any other bank issuing cards in the program. Availability is subject to applicable client, program, country, regulatory, financial crimes and sanctions requirements.
Fintechs' customers are increasingly operating across borders. When their teams use a U.S.-issued corporate card abroad, they often run into cross-border fees, currency conversion costs and uneven merchant acceptance. For businesses managing teams and spend in other countries, that friction adds up. Through Visa MNP, cards are issued for local use in the cardholders' country, so transactions are authorized in local currency and processed like those on a locally issued card. Cardholders get a more local payment experience, and eligible fintechs manage approved programs through their existing Newline relationship.
"This is what enterprise fintech can look like when you combine the history of innovation and scale of an institution like Fifth Third with the global reach of a network like Visa," said Sushil Raja, general manager, Newline by Fifth Third. "We're proud to offer our clients card issuing in more countries than any other bank in the program, so they can serve customers wherever they do business. We've built that reach country by country, with the same risk and compliance discipline our clients count on from Fifth Third."
HCM platforms, expense management providers and vertical SaaS platforms are examples of fintechs that could offer cards to business customers that operate in more than one country, subject to applicable requirements.
"Our Multinational Program was built to make paying across borders feel local," said Chris Baker, head of commercial and money movement solutions, North America, Visa. "Working with Newline, we've made it possible for their clients to offer corporate cards in more than 40 countries, putting that experience within reach of more businesses than ever."
Why it matters:
- More MNP reach than any other bank. Over 40 countries, more than any other bank issuing through Visa's Multinational Program.
- Built for local use. Cards are authorized in local currency and processed like locally issued cards, which reduces cross-border friction for cardholders.
- The Newline difference. A developer-first embedded banking platform, backed by the balance sheet of a top-10 bank, made this possible.
Visa and Newline announced the collaboration on the main stage at Money20/20 today.
About Visa
Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable and secure payments network, enabling individuals, businesses and economies to thrive. We believe that economies that include everyone everywhere, uplift everyone everywhere and see access as foundational to the future of money movement. Learn more at Visa.com.
About Newline
Newline by Fifth Third provides BIN sponsorship and a modern API driven platform that enables enterprise clients to launch payment, card, and deposit products directly with the Bank. Its technology helps clients embed financial capabilities seamlessly into their products, backed by Fifth Third’s standards for performance, scalability, and risk management. Newline powers offerings for leaders including Trustly and Stripe.
About Fifth Third
Fifth Third is a bank that's as long on innovation as it is on history. Since 1858, we've been helping individuals, families, businesses and communities grow through smart financial services that improve lives. Our list of firsts is extensive, and it's one that continues to expand as we explore the intersection of tech-driven innovation, dedicated people and focused community impact. Fifth Third is one of the few U.S.-based banks to have been named among Ethisphere's World's Most Ethical Companies® for several years. With a commitment to taking care of our customers, employees, communities and shareholders, our goal is to be the one bank people most value and trust.
Fifth Third Bank, National Association is a federally chartered institution. Fifth Third Bancorp is the indirect parent company of Fifth Third Bank, and its common stock is traded on the New York Stock Exchange under the symbol "FITB." Investor information and press releases can be viewed at www.53.com. Deposit and credit products provided by Fifth Third Bank, National Association. Member FDIC.