myTU, a fully automated, AI-native, and cloud-first digital bank, has been granted acquiring licenses from both Visa and Mastercard.
This significant development supports its ongoing mission to establish a scalable, secure, and innovative payments-as-a-service (PaaS) infrastructure for its business partners.
With these licenses, myTU will be able to process card payments directly via its own acquiring infrastructure, enabling seamless transactions across e-commerce platforms, retail environments, and point-of-sale (POS) terminals.
Obtaining acquiring licenses from both leading global payment networks represents a key milestone in myTU’s strategic expansion.
It positions the digital bank to provide direct card acquiring services to business clients, allowing them to accept Mastercard and Visa payments both online and offline.
This capability enhances transaction efficiency and operational flexibility, particularly valuable for e-commerce, cross-border operations, and high-volume retail businesses.
A principal member of Visa since 2023, myTU has now also achieved principal membership status with Mastercard, reflecting its strong commitment to compliance and robust due diligence.
These achievements place myTU among top-tier global financial institutions, while maintaining the agility and innovation expected of next-generation fintech firms.
Raman Korneu, Co-Founder and CEO of myTU, commented:
“Becoming a direct acquiring partner of both Mastercard and Visa allows us to offer faster, more secure, and cost-effective payment services to our business clients. This is a key part of our strategy to evolve as a payments-as-a-service infrastructure provider for our business partners and empower their growth with the tools they need to manage and scale their payment operations efficiently.”
In anticipation of its acquiring capabilities going live, myTU has already signed agreements with processing centres, gateway providers, and key partners.
With regulatory approvals in place, preparations for a smooth integration and rollout are well underway. The service is expected to launch in Q3 2025.
With this advancement, myTU continues to redefine traditional banking by delivering secure, high-speed, AI-powered financial services tailored to meet the dynamic requirements of modern businesses.
Featured image credit: myTU
