myTU bags Visa, Mastercard licenses for direct card acquiring

By Puja Sharma

• Digital bank myTU secures direct acquiring licenses from Visa and Mastercard to enable seamless card payment processing across online, in-store, and POS channels.
• The new service empowers myTU’s business clients to accept Visa and Mastercard payments directly, streamlining operations and enhancing payment efficiency.

myTU, a fully automated, AI-native and cloud-first digital bank, has been granted acquiring licenses from both Visa and Mastercard, to build a scalable, secure, and innovative payments-as-a-service infrastructure for partnering businesses. This milestone will enable myTU to process card payments directly through its own acquiring infrastructure, across e-commerce platforms, retail stores, and POS terminals.

Securing and acquiring licensing from both main global payments providers marks a pivotal step in myTU’s strategic growth and unlocks the ability to offer card acquiring services directly to its business clients.  myTU’s partnering businesses will be able to accept Mastercard and Visa payments both online and offline to streamline their transaction processes and operational flexibility. This is especially valuable for e-commerce and online retail, cross-border or international businesses, and high-volume retail.

Being a principal member of Visa since 2023, myTU has now secured a new principal membership with Mastercard, affirming its strong compliance and due diligence standards. It reinforces myTU’s position among leading global financial institutions while preserving the speed, flexibility, and innovation of a next-gen FinTech.

Raman Korneu, Co-Founder and CEO of myTU: “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.”

myTU has already signed agreements with processing centres, gateway providers, and key partners in preparation for the integration phase. With all agreements approved by regulatory bodies, the groundwork for a seamless rollout is firmly in place. The service is expected to launch in Q3 2025.

Through these advancements, myTU continues to challenge traditional banking models in delivering high-speed, secure, and AI-powered financial services that meet the evolving needs of today’s businesses.