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Expanded Access to Credit
In the U.S. alone, 45 million Americans have thin or no credit files, and even more have subprime scores that can prevent them from being issued traditional credit products. By combining Mastercard products and services with qualified Engage third-party partners, Financial Institutions and Fintechs can create solutions that expand access to credit and help consumers build credit overtime, driving greater financial inclusion and offering functional card products that fit everyday needs.
Target Audience
Related APIs
A charge card is a type of credit card that enables the cardholder to make purchases which are paid for by the card issuer, to whom the cardholder becomes indebted.
A secured credit card is a type of credit card secured by a deposit account owned by the cardholder.
Leverage alternative data or scoring methodologies to issue credit based on non-traditional or alternative information. Such tools can be can be provided by Mastercard Engage-qualified partners.
Features tracking credit capabilities credit through a record of on-time payments
Features collecting and storing financial data submitted by creditors.
Conduct instant, electronic Know Your Customer (KYC) screenings when authenticating users who are accessing their digital banking information. eKYC tools can be provided by Mastercard Engage-qualified partners.