Yondr Money, Mastercard partner to power embedded finance via Kobble

By Gloria Methri

Australian FinTech Yondr Money has entered into an exclusive principal issuing agreement with Mastercard to strengthen its embedded finance platform, Kobble. The partnership will enable businesses across sectors to launch Mastercard-powered financial products in a matter of weeks, accelerating Australia’s position in the global embedded finance landscape.

Under the agreement, Yondr Money will issue Mastercard prepaid and debit cards through Kobble, its modular Banking-as-a-Service (BaaS) platform. The collaboration aims to simplify the launch of embedded financial solutions by reducing the time, cost, and regulatory complexity traditionally associated with developing such products.

“This collaboration represents a pivotal moment for Australian businesses seeking to integrate financial services into their customer journeys,” said Shane Chanel, Founder and CEO of Yondr Money and Kobble. “Having built Yondr Money and acquired Shouta, I experienced firsthand the regulatory complexity, cost barriers, and integration challenges of launching financial products. With Mastercard’s global network and our modular platform, we’ve created the infrastructure I wish existed when I started, enabling businesses to launch in just weeks, not years.”

The Kobble platform offers a full suite of embedded finance tools, including:

• Cards-as-a-Service: Mastercard prepaid, debit, and reloadable cards with card management features
• Wallets-as-a-Service: Multi-currency wallets, BSB & account setup, integration with Apple Pay and Google Pay
• Payments-as-a-Service: Support for PayID, PayTo, and BPAY payment rails
• Security & Compliance: Real-time fraud monitoring, AML tools, and regulatory reporting
• Customer Experience: Identity verification, transaction insights, and loyalty capabilities

Kobble’s modular architecture is designed to serve businesses across various industries. Retailers can create branded debit cards with loyalty and BNPL features, while FinTechs and banks can white-label card issuance and transactional banking.

Telecommunications companies can offer digital wallets and device financing, while insurers and superannuation firms can use the platform for instant claim settlements and retirement-linked cards. Additionally, travel and healthcare sectors can benefit from multi-currency wallets and health savings solutions.

“At Mastercard, we are committed to empowering FinTechs to innovate at scale,” said Ashima Chaudhary, Vice President, Business Development, Australasia at Mastercard. “By combining our trusted global network with Yondr Money and its Kobble platform, we’re helping make innovation more accessible, empowering Australian fintechs of all sizes to embed secure, modern, scalable financial services that meet evolving consumer expectations.”