M2P fintech makes its first acquisition with Wizi, a Credit card focussed fintech

Chennai August 24, 2021

M2P fintech, Asia’s fastest-growing and largest API infrastructure company announced the acquisition of Wizi, a Credit card focussed fintech to better serve Banks and fintech with new-age onboarding and digital originations.

Wizi’s vision to democratize the credit card buying experience using its proprietary recommendation engine coupled with the versatile and programable credit card stack of M2P augurs well for the roll out of hyper personalised credit card offerings in the Indian market. Wizi adds to the "Card in a Box “proposition of M2P, further strengthening its capabilities that were launched earlier in the year.

Venkatesan, Abishek, and Rajesh, the Co-founders of Wizi:

With their deep domain experience across financial services, technology, and marketing will take up key product leadership roles at M2P and will continue to bolster the credit cards stack. We are excited to become a part of the M2P family as it’s a culture that we always wanted to emulate as a fintech startup, Venkatesan said.

Madhusudanan R, Co-founder M2P Fintech, said:

“We rolled out the Programable credit card stack in March this year and in the first 6 months we signed up over a dozen Banks, we realised most banks in the card issuance space did not have digital origination capabilities coupled with many incumbent products lacking basic mobile interfaces for customers to manage their credit card account, Wizi serves both these gaps elegantly. With their early traction we are excited with the prospect of taking the platform capabilities to the top 50 Banks in India and potentially take it to the rest of the world

Abishek and Rajesh further added that, “India has the potential to reach 100 million unique credit card users in the next 3 years, we hope to contribute meaningfully to help realise this vision by enabling every bank or fintech to get to market faster”

About M2P Fintech

M2P is the leading API infrastructure company that helps businesses to connect and roll out their own branded products. The company works with banks and financial institutions as product providers. It offers end-to-end program management services over a bundle of API's that covers, Bank Accounts, Term deposits and a wide gamut of payments products including Debit, Credit, Prepaid, Travelcard, QR, UPI, NETC toll payments. To date, 500+ businesses across Fintech and financial institutions have leveraged M2P’s platform. Their API products have been utilized by top tech companies such as OLA, Slice, Cred, Razorpay, Finin, etc. The modular mobile-first API platform is backed by leading Banks and allows companies to develop, test rapidly, iterate their own branded debit, credit, and prepaid account. For further information, please visitwww.m2pfintech.com

About Wizi

Wizi is a credit card only focused fintech that helps users get a fully digital card buying experience from leading banks in India through regular and surrogate programs. Wizi also helps users to get the most out of their credit card – be it benefits, offers, managing revolving across cards and much more. Wizi has more than 70% share of credit card issuing banks, has 3L+ downloads, 1L+ card recommendations(https://wizi.app)

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Vidyalakshmi Addhepalli