Fintech company Zeta has raised funds from global payments major Mastercard by selling an undisclosed stake. The two companies also announced a five-year partnership to launch credit cards globally, which will be powered by the processing stack of Zeta, which had acquired unicorn status in its first fundraise last year. Zeta is fundamentally rewiring how issuers launch credit card programs by offering new paradigms over legacy mainframe systems. The stack allows for expanding lending book, reducing costs, and improving customer satisfaction.
As both the partners will be pre-configuring key capabilities behind the scenes, issuers will be able to launch cards much faster, making it easier than ever to rapidly design and launch flexible, highly customizable card programs. Mastercard is partnering with Zeta to provide issuing banks and fintech innovators with modern credit card processing capabilities at scale that will maximize the safety, security and convenience of e-commerce, online banking, and contactless transactions.