LoanPro integrates with Visa DPS to enhance their next-generation end-to-end credit card platform
LoanPro, utilizing Visa DPS as a processor, unlocks a new integration to provide clients with a comprehensive platform for launching, servicing, and managing card programs, with compliance at the forefront
SALT LAKE CITY [June 4, 2024 —] LoanPro, the modern credit platform, today announced it will utilize their direct integration with Visa DPS, one of the largest issuer processors of Visa debit transactions globally, to provide card issuers, brands, financial institutions, and fintechs with a unified platform to seamlessly launch, manage, and service next-generation credit card programs, while unlocking competitive differentiation.
This integration of LoanPro’s modern credit platform with Visa DPS’ digital-first issuer processing paves the way for the deployment of first-to-market credit card programs that ensure scalability while driving growth through unique features such as transaction level credit™. Transaction level credit™ offers unprecedented precision in managing transactions, allowing card programs to customize interest rates, credit limits, and grace periods based on the specifics of each transaction, including amount, location, merchant type, and more.
Nate Bray, Chief Innovation Officer of LoanPro, highlights the groundbreaking impact of this native integration by stating, “We’re revolutionizing the field by elevating the capabilities of existing card providers by dramatically reducing barriers to entry for new entrants. Our agreement with Visa DPS simplifies the transition from legacy systems by integrating top-tier card issuance and credit management and servicing tools into a unified experience.”
Rhett Roberts, Co-Founder and CEO of LoanPro, similarly emphasized, “This integration with Visa DPS is set to revolutionize the credit industry, ushering in a new era of innovation for credit card programs. We’re moving beyond the stagnant designs of the past twenty years, ready to transform the credit landscape together.”
Neil Mumm, Senior Vice President and General Manager of Visa DPS, said, “What we see in LoanPro is an approach to lending and credit payments that we think is overdue and really welcome in the industry. Specifically, the focus on digital centricity and high degrees of adaptability. This helps enable lenders to establish highly flexible programs with reduced overhead, which is a testament to LoanPro’s commitment to innovation and customer-centric solutions.”
About LoanPro
LoanPro is the market-leading modern lending and credit platform enabling financial organizations to innovate quicker, driving account growth while optimizing operational efficiency. Today, 600+ financial organizations use LoanPro to holistically upgrade their borrower, agent, and back-office experiences. LoanPro’s mission of providing the platform to innovate the future of finance currently is enabled through its composable architecture, allowing lenders to enhance their origination, servicing, payments, collections, all built on the foundation of a modern lending and credit core. Learn more at Loanpro.io.
