Case Study: DECTA Enables Payment Card Issuing and Processing for Monevium
News Nov 12, 2021

Monevium is a London-based digital banking institution. Their goal is to deliver a straightforward and secure way to manage money via online banking and a range of payment card solutions. Their service offering is catered to a wide range of customers, from individual clients to enterprise-level businesses.

In early 2021 Monevium partnered with DECTA to launch a new line of services centered around payment card issuing and transaction handling.

The main objectives of the partnership included:

  • White label card issuing under BIN sponsorship
  • Comprehensive payment processing functionality

After evaluating the requirements, we saw that our standard service package under DECTA White Label Card Issuing Solution was sufficient to meet all of the project’s needs.

Thus, we developed an approach based on two main focus areas:

1. White label payment card issuing

  • Card issuing under BIN sponsorship program
  • Card personalization and PIN generation
  • Card payment processing
  • Transaction settlement
  • Fraud prevention
  • Dispute management
  • SMS and push notifications
  • Card manufacturing using Monevium custom design
  • Mastercard Identity Check
  • Card delivery to cardholders

2. Full DECTA API integration

  • Card ordering
  • Payment authorization
  • Card transaction management
  • Full card lifecycle management
  • Card activation and blocking
  • Virtual card detail reminder
  • PIN reminder
  • Reporting
  • Client data update

DECTA is a principal member of Mastercard and a holder of a card issuing license under the Mastercard scheme.

After working with DECTA Monevium was able to introduce the Monevium Card - a payment card accepted globally, created with the modern application scenarios in mind, and issued under their own brand.

Alexey Stepanov, Managing Director at Monevium: “Operating in the online payments industry, in order to stay competitive it is crucial to be able to launch products quickly and ensure that they integrate well within the overall service portfolio, and our partnership with DECTA enabled us to do just that. Our new Monevium Card closed a gap in our product offering and became one of its cornerstones, allowing our business to take a significant leap forward.”