The platform has global scalability and plug-and-play connectivity at its core, allowing financial institutions and fintechs to enhance their customer experiences and deploy disruptive payment card use cases in a matter of weeks.

HUBUC decided to build P1, a new issuing processor in-house when existing ones proved to be running on legacy technology from the 1960’s and provided outdated functionalities.

HUBUC’s commitment with P1 is to bring lightning-fast performance, lean implementation and microservices architecture that allows scalability and innovation for years to come.

The cloud-based platform has key capabilities such as card-level spending controls, regulatory issuer reporting, cloud processing for scalability and comes with a stellar developer experience with Public Sandbox and OpenAPI specification.

Additionally, the platform offers strong customer authentication for enhanced security against fraud, and is GDPR, PSD2 and PCI DSS 3.2 Level 1 compliant.

The platform’s powerful issuing processor is the ultimate infrastructure to innovate with a Mastercard product and generate new revenue streams, improve unit economics and become a leading company in any sector.

P1 customers like Coverflex are an example of how to leverage HUBUC services. Coverflex’s solution allows a company to design more bespoke employee compensation, such as health insurance, meal allowance, fringe benefits and discounts, by aggregating multiple providers. This year Coverflex recently raised €15 million Series A, to keep increasing their existing customer base of 3,600+ companies, including Santander, Natixis, OysterHR, Bolt, Emma, Revolut and Smartex.

In a statement, Coverflex CEO Miguel Amaro said: “At Coverflex, we are dedicated to providing cutting-edge employee benefits via a smart card to our clients in Europe. Our focus on increasing the unit economics and scalability of our card product has been a top priority, and we are thrilled to announce that our partnership with HUBUC has enabled us to achieve this goal. Working with industry leaders like Ignacio and Hasan has been a truly enlightening experience, allowing us to expand our knowledge and understanding of the payments world. This collaboration has allowed us to significantly enhance our proposition to our clients, delivering increased efficiency and a better user experience for our cardholders.”