WebBank Partners with Capital on Tap to Launch SMB Credit Card

WebBank, a prominent US sponsor bank, entered a partnership with Capital on Tap, a UK-based digital lender focused on small businesses, to launch an SMB credit card product in the US market around early 2021. Under the arrangement, WebBank acts as the issuing bank and lender of record, while Capital on Tap provides the technology platform and customer-facing experience for card delivery. This structure allows Capital on Tap to offer credit products across US states without obtaining individual state lending licenses.

The partnership follows the well-established sponsor bank model where the regulated bank originates the loans and the fintech handles underwriting technology, distribution, and servicing. Financial terms of the deal were not publicly disclosed. The collaboration highlights WebBank's continued expansion as one of the most active sponsor banks in the fintech ecosystem, alongside institutions like Cross River Bank and Celtic Bank.