Payments

The Bank of Missouri partners with Visa to offer credit card issuing

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June 15, 2022

The Bank of Missouri has partnered with Corserv and Visa to offer a program for community banks to issue their own credit cards without adding additional staff or infrastructure. Instead, community banks can utilize a turnkey platform, which administers, processes and services the credit cards, according to a press release.

The Bank of Missouri will provide the Bank Identification Numbers and will sell purchase volume to community banks, which will receive 100% of the interchange, interest and fees from the cards.

"Visa is the world leader in payments and is just as much in demand from community bank customers as it is from customers of National credit card providers," Jerry Craft, CEO of Corserv, said in the release. "Community banks can now offer a branded Visa credit card program to their local businesses, municipalities, non-profits, and consumers with competitive credit card products and excellent local service."