Grow Finance & Pismo to issue credit card for SMEs in Australia

By Leandra Monteiro

Australian company Grow Finance has announced its partnership with Pismo to issue a new Mastercard credit card for small businesses in Australia.

Grow has chosen Pismo’s all-in-one, public cloud-native financial services platform to support its card-issuing operation. By using a modern and feature-rich platform, it aims to differentiate itself from other lenders and continue supporting the Australian SME segment.

The Grow Mastercard credit card will be available in the market from September. This new offer will give business owners better cash flow, management and capital to help them improve their businesses.

“Pismo brings us its extensive expertise in card issuing and payment processing, which includes managing 42 million cards. The Pismo platform enables us to develop our credit card business without building the infrastructure from scratch. While Pismo focuses on the technology, we focus on supporting Aussie SMEs to grow their businesses,” said David Verschoor, Executive Director and Co-CEO at Grow.

“Grow has been having a significant impact on the Australian SMEs so far. It will serve these companies even better with their new credit card. We are very proud to announce them as our first Australian client,” said Vishal Dalal, CEO (North America, EMEA, APAC) at Pismo.

Founded in 2016 in Brazil, Pismo has operations in five continents. Pismo provides card issuing infrastructure for Banco Itaú – Latin America’s largest bank; BTG Pactual, the largest investment bank in the region; NG Cash, a FinTech focused on Generation Z; a German FinTech N26, the global bank Citi, among others.