Mogo's Carta Worldwide Partners with LendingClub Bank for Card Issuance
On April 8, 2021, Mogo's payments subsidiary Carta Worldwide announced an expanded debit card issuance service in partnership with LendingClub Bank. The partnership is designed to enable fintech challenger banks to rapidly deploy digital banking solutions leveraging Carta's modern card issuing platform. The platform supports both virtual and physical card products and features advanced authorization controls alongside extensive program configurability through its API suite.
LendingClub Bank serves as the issuing bank partner, providing the regulatory and banking infrastructure necessary for card programs. This collaboration allows fintechs to launch branded debit card programs without needing to secure their own bank charters. The partnership reflects the growing demand from challenger banks for turnkey card issuance solutions that combine BaaS bank partnerships with modern API-driven technology platforms.
- Strengthens LendingClub Bank's position as a sponsor bank for fintech card programs following its acquisition of Radius Bank
- Highlights growing demand for turnkey card issuance infrastructure among challenger banks and neobanks