Launching a card or e-wallet program offers significant opportunities, but many fintechs underestimate the complexity involved.
Securing an issuing bank, completing due diligence, and coordinating multiple partners can cause even well-funded programmes to stall before launch.
In this interview, Reiner Vanooteghem, Chief Commercial Officer at Neopay Global, shares his insights. With over 20 years of experience working with issuing banks, processors and prepaid programs, Reiner brings deep expertise across the full payments lifecycle, from compliance and regulation through to program design and delivery.
1. When a fintech approaches Neopay Global with an idea for a card or e-wallet program, what are the first things you look at?
The first step is achieving clarity: What problem is being solved, who is the target audience, and what will the final product look like?
We also evaluate whether the firm has sufficient financial resources to sustain the program. Launching a payments program involves costs related to sponsor banks, processors, third-party partners, and financial and operational audits.
Managing expectations around timelines is also critical. Many firms underestimate the time required from concept to launch, so understanding the process early is essential.
Finally, we look at whether the groundwork has been done, including analysing the target market, validating demand, and preparing financial projections to assess commercial viability.
2. How important is choosing the right sponsor bank, processor and network partners — and what can go wrong if firms get this wrong?
Selecting the right partners is essential.
Sponsor banks, processors and card networks all carry out extensive due diligence, and these relationships will shape both the launch and long-term success of the program.
Selecting the right issuing bank is particularly important. The bank must have experience with card programs and a strong understanding of regulatory requirements and network rules. An experienced bank will also identify potential risks early, helping to avoid issues later.
The choice of processor is equally important. The processor must support all operational requirements and integrate smoothly with other partners. It is also beneficial if the processor already works with the issuing bank, as this can significantly reduce complexity and time to launch.
3. What does the process of getting approval from an issuing bank typically involve?
Getting approval from an issuing bank is often one of the most complex and time-consuming stage.
The timeline depends heavily on how prepared the program’s documents are including Policies & Procedures are, as well as the bank’s internal review processes. Larger banks may require multiple internal approvals.
Banks will typically review financial statements, projections and revenue models to ensure the programme is sustainable. In most cases, at least three years of financial data and evidence of funding are required.
They will also assess the program’s compliance framework, including BSA/AML Program and controls, fraud monitoring systems and risk assessments. This involves submitting a comprehensive set of policies and procedures.
In practice, it can take several months to prepare the required documentation, followed by several more months for the bank’s review and approval process.
4. Do firms always need their own licence, or are there smarter routes depending on their stage of growth?
Holding your own licences can provide greater control and flexibility, but it also comes with significant financial and regulatory obligations.
For many firms, a more practical approach is to partner with an issuing bank that already holds the required licences. This can significantly accelerate the launch process.
In these cases, banks often recommend working with experienced program managers and third-party providers to support implementation and ongoing operations.
Some issuing banks may also offer pre-assigned BINs, which can further reduce time to market.
5. Where do founders typically underestimate the operational or compliance burden?
Due diligence is one of the most underestimated areas.
Gathering the required documentation alone can take several months, and the bank’s review process can take just as long.
While some technical work can begin in parallel, there is always a risk in progressing development before final approval is secured.
Cost is another area that is often underestimated. It is essential to fully understand the cost structure, expected revenue and growth projections before launching.
Firms also sometimes underestimate how much control they may need to give up when working with certain partners, something that should be clearly defined early on.
6. What risks can derail a program if they are not addressed early?
Several key risks can derail a program.
A major one is failing to establish a robust compliance framework covering regulatory requirements, processes and documentation.
Financial stability is another critical factor. Programs must demonstrate sufficient funding and realistic projections.
Fraud monitoring and risk management are equally important. Weak controls can quickly lead to operational and regulatory issues.
Other risks include low customer adoption, technical integration challenges and insufficient risk assessment during program design.
7. What makes Neopay Global different from other program managers in the market?
At Neopay Global, we have first-hand experience of the challenges that arise during program launches, which allows us to help clients avoid common pitfalls.
We support clients not only in building the program but also in shaping its structure and identifying potential issues early.
We also have established relationships with key third-party providers, reducing the time spent sourcing and onboarding partners.
Our team brings more than 14 years of experience in card issuing and program management, with a strong understanding of both regulatory frameworks and network requirements.
8. If you could give one piece of advice to a fintech launching a payments program today, what would it be?
If you have never launched a program before, invest in experienced partners early.
The payments ecosystem is complex, and the cost of getting it wrong can be significant. The right partners do not just support your launch; they improve your chances of success.
Launching a Program? Speak to Neopay Global
Launching a card or e-wallet program requires more than just a strong idea — it requires the right partners, preparation and expertise.
At Neopay Global, we support fintechs and payments firms at every stage of the journey, from initial concept and partner selection through to compliance, implementation and ongoing program management.
If you are considering launching a program, or want to sense-check your approach, get in touch with our team to see how we can help you move forward with confidence.
Speak with Reiner Vanooteghem, Chief Commercial Officer, at reiner.vanooteghem@neopayglobal.com or reach us here to discuss how Neopay Global can support your card or e-wallet programme launch.
