DeFi BNPL start-up AtPay taps Pismo for card issuance
AtPay, a buy now, pay later (BNPL) solution based on decentralised finance (DeFi), has tapped core banking platform Pismo in preparation for a soft launch in Australia.
AtPay selects Pismo for card issuance
The Sydney-based start-up supports all the typical components of a BNPL service, but is differentiated by enabling customers to complete payment instalments with both fiat and cryptocurrency in an online and in-store setting.
For each repayment a customer makes, they are rewarded with AtPay tokens, which can be redeemed with the company’s merchant partners.
It has enlisted the cloud-based Pismo platform – which is headquartered in São Paulo, Brazil and was acquired by Visa in June for $1 billion – to facilitate the issuance of debit, credit, tokenised and prepaid cards via an API.
Pismo previously onboarded business lender Grow Finance as its first Australian client for card issuance in July. Because of this, AtPay’s selection of Pismo could be seen as an inevitability, as Grow Finance currently serves as the start-up’s BIN sponsor.
Claiming to have already signed over 150 active corporate clients, AtPay is set for commercial release in Australia in Q1 2024, and says it plans to strike international markets, including those of the Gulf Cooperation Council (GCC) and North America, later next year.
Sahir Nadeem, CTO of AtPay, says the payment solution allows it to “maintain control over payment authorisations” and protect the integrity of user-merchant relations.
“Pismo’s cloud-native platform also enables AtPay to enter new geographies with scalability, security and serviceability as we expand our footprint internationally.”
