- 26 Apr 2023
- Updated on 26 Apr 2023
Synctera Debit Card
Provide fast and convenient access to funds
Synctera Debit Card enables you to issue virtual and physical debit cards for your consumer or commercial debit programs, and process debit transactions safely and efficiently via your bank partner. Fully featured, Synctera Debit Card supports digital wallets, tokenization, spend controls, and customized artwork on physical cards to enhance your brand. Synctera also supports instant funding through push-to-card transactions so users can start swiping their cards immediately, and lets you make transaction approval decisions in real time based on your own business rules.
Accelerate time to market: Launch a basic card program in as little as 30 days after securing your BIN sponsor, subject to your program requirements.
Grow revenue: Earn interchange revenue on card swipes.
Reduce risk as you scale: Easily add and share accounts across multiple banking partners without having to implement new card plastic specifications.
Connect with ease: A single API integration provides access to card issuance, PIN and signature transactions, transaction processing, and provisioning of cards to Apple Pay and Google Pay.*
Pre-integrated with KYC, AML, and fraud protection: Reduce complexity with integrated card processes that work seamlessly with the Synctera platform and other Synctera services.
Easy communication of card features: The List Card Products endpoint to allows you to list the card products that you offer your customers. You can for example use this to present the different card products available to your customers within your app, and to explain the features of the card products offered.
*For pre-requisites of the implementation of Digital Wallets, see the API Guide.
Flexible card program management
Card program setup: Define the structure of the card program, configure available features, and configure how cards and transactions are processed.
Card issuing: Issue and reissue virtual and physical cards. Request replacements for physical cards. Add cards to digital wallets.
Card management: Activate cards, set PINs, and update card status.
Branded cards: Create customizable physical cards that align with your brand or allow end users to apply their own style.
Enhanced compliance and payment controls
Audit trail: Maintain a record of all tasks associated with your bank partner’s BIN sponsorship duties.
Granular fraud control: Dynamically approve or reject transactions in real time based on contextual data.
Simplified authorization: Authorize transactions based on your own authorization rules or in conjunction with Synctera’s authorization mechanisms. You can configure this gateway yourself via Synctera API. For more details, see the API Guide.
How it works
- Synctera works with your bank partner and other partners to configure and implement your card program
- You roll out the card program to your customers, submitting card issuance requests to Marqeta via the Synctera platform
- Customers use the cards for purchases and ATM withdrawals, with transactions authorized and posted to the corresponding accounts on the Synctera platform
- Your bank partner manages the daily settlement process through Synctera using automated reconciliation tools
Synctera Smart Card - Consumer
A convenient payment solution that allows your retail customers to manage spending while potentially earning better rewards than a debit card can provide
Synctera Smart Card (consumer) enables you to issue virtual and physical secured charge cards to your retail customers, and to process their transactions.
- Enhance your overall value proposition
- Create stickier customer relationships and boost customer lifetime value
- Create a new revenue stream by earning interchange
- Interchange fees on charge cards can be substantially higher than interchange fees on debit cards
- Higher interchange rates give you more flexibility to offer attractive rewards to your customers
For your customers
- Greater convenience than debit cards (wider acceptance, lower hold amounts)
- Wider acceptance than prepaid cards
- Easy budgeting and spend management
- Credit building/rebuilding (with more access to funds than with a secured credit card)
- Potentially more attractive rewards than debit cards
- Potential to earn interest on the linked deposit account
- Issue physical and/or virtual Mastercard-branded cards (other card networks are available; contact Synctera to learn more)
- Feature custom card art
- Allow customers to add their card to digital wallets such as Apple Pay and Google Wallet
- 0% APR
- No credit decisioning or collections management required
- Your partner bank serves as the card issuer, holds linked account deposits, and facilitates all money movement
- This product is used in conjunction with ancillary Synctera services, including KYC, Ledger, External Account Verification, ACH, and Fraud
How it works
- The card’s available credit is equal to the available funds that the customer maintains in a linked deposit account
- As opposed to legacy secured credit cards, the account holder can withdraw money from the linked deposit account
- As the customer makes credit purchases on the card, an equal amount of funds in the linked deposit account are put on hold, and the card’s available credit decreases in tandem
- The cardholder must pay the card’s balance in full on the payment due date
- If the balance is not paid on time, funds on hold in the linked deposit account are used to settle the monthly statement