Modulr Becomes Visa Principal Issuing Member in Europe

Modulr, a UK-based payments fintech, announced it had become a principal issuing member of Visa, granting it direct access to Visa's network for card issuance. The membership eliminates the need for intermediary banks in the card issuance process, allowing Modulr to offer faster and more flexible card programs to its business clients. The move is designed to serve clients in sectors such as travel, alternative banking, and digital payments who need embedded card capabilities.

As a principal member, Modulr can issue Visa cards under its own name and manage the full card lifecycle. This strengthens Modulr's position as a Payments-as-a-Service provider, enabling non-bank businesses to embed card issuance into their platforms. The development reflects the broader trend of fintechs gaining direct network access to power embedded finance use cases across Europe.