Checkout.com, a payment infrastructure provider, has expanded its embedded finance offering by launching a card issuing infrastructure (physical, virtual, and on-off cards), “Checkout Issuing.” During its testing phase, Checkout Issuing has been used to create “millions” of cards. 

The solution mainly caters to online travel, marketplaces, loyalty, and expense programs, and allows users to customize their cards (such as the material used and color combinations). Checkout claims that its cards rely less on third-party integrations, compared to similar market offerings, thereby offering users greater flexibility. 

Checkout further noted that enterprises issuing cards using the platform will also earn a portion of the interchange fees (from the portion of fees charged by them). 

Analyst QuickTake: Checkout Issuing is likely to face competition from existing disruptors specializing in offering card-issuing infrastructure. This includes highly funded and established players such as Marqeta , Deserve , Lithic , and Highnote , among others.