NovoPayment

What NovoPayment does

NovoPayment is a Miami-headquartered Banking-as-a-Service platform founded in 2007 that provides API-based digital financial services infrastructure to banks, fintechs, and enterprises across the United States, Latin America, and increasingly Europe. Its modular product suite comprises NovoCard (credit, debit, and prepaid card issuance across Mastercard, Visa, and closed-loop programs), NovoSpend (corporate expense and prepaid card management), NovoFlow (correspondent and payment network switching), NovoFlux (a cloud-native card processing switch), and NovoCredit (loan servicing and automation). The platform is built on event-driven, microservices architecture with an API-first philosophy, exposing functionality through a developer portal with sandbox, UAT, and production environments, and is supplemented by mobile SDKs for iOS and Android.

The underlying technology stack emphasizes near-infinite scalability, JWE/JWS-based encryption, OAuth 2.0 authentication, and PCI/SOC/ISO-compliant security. The company earns revenue through API/platform licensing and usage fees combined with per-transaction processing charges for authorization, clearing, and real-time payments. Distribution combines a self-serve developer portal (product-led growth) with direct enterprise sales for financial institutions, supplemented by certified Visa Ready and Mastercard partner channels. Named customers include tier-1 LatAm banks (Banorte, Banco Pichincha, Banco Nacional), high-growth fintechs (Rappi, Zinli, Dale, Loan), and enterprise clients (Pluxee for employee benefits).

The company has raised approximately $20 million in a Series A led by Morgan Stanley Expansion Capital in November 2024, alongside prior capital from Visa Ventures, Fuel Venture Capital, and Endeavor Catalyst. In June 2025 it acquired Provis Alimentación, signaling inorganic expansion into adjacent verticals. Headcount stands at 101-250 and the company maintains team presence across more than 30 countries, with no disclosed revenue figure.

Name

NovoPayment

Legal name

NovoPayment, Inc.

Website

https://novopayment.com

Company type

Private

Founded year

2007

Operating status

Operating

Headcount range

101–250 employees

Short description

NovoPayment is a Miami-based Banking-as-a-Service platform offering API-driven card issuance, payment processing, correspondent networking, and loan servicing for banks, fintechs, and enterprises primarily across the US and Latin America.

Ownership category

akta.pro rank

Product category

Payment Infrastructure

NAICS

Software Publishers (513210)

SIC

Services-Prepackaged Software (7372)

akta.pro primary industry

Card Issuing Platforms (Issuer Processing) (FSAGABAD)

akta.pro secondary industries

Embedded Card Issuing & Card-as-a-Service (FSAGALAC), Card Issuing & Program Management Platforms (BPAMAFAH), Payment Initiation & Account-to-Account (A2A) Payments (PIS, RTP initiation) (FSAGACAI)

Keywords

• Card issuance platform
• Payment processing API
• Banking-as-a-service
• Real-time payments
• Digital banking infrastructure

Headquarters

HQ city

Miami

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Infrastructure, Operations, Marketing or Sales

Revenue model

1. API/Platform Licensing and Usage: Revenue generated from API access and usage of the modular payment platform. Organizations pay for access to NovoCard, NovoSpend, NovoFlow, NovoFlux, and NovoCredit solutions on a usage or subscription basis.
2. Transaction Processing: Fees collected per transaction processed through the payment switch and card processing network. Volume-based revenue from authorization, clearing, and real-time payment transactions.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels4 records

Core offering

NovoPayment develops a cloud-native, API-first Banking-as-a-Service platform that enables banks, fintechs, and enterprises to launch and operate card programs (credit, debit, prepaid), digital wallets, payment and correspondent networks, real-time payments, and loan servicing. The offering is delivered as a modular product suite (NovoCard, NovoSpend, NovoFlow, NovoFlux, NovoCredit) accessed through REST APIs, with revenue generated from platform licensing/subscription and per-transaction processing fees.

Product overview

NovoPayment offers a cloud-based, next-generation Banking-as-a-Service platform providing modular payment solutions, digital banking infrastructure, and card issuance capabilities. The core product portfolio includes NovoCard (card issuance), NovoSpend (expense management), NovoFlow (correspondent networks), NovoFlux (cloud-native payments switch), and NovoCredit (loan management). These products are complemented by a comprehensive API platform featuring Card Solutions, Digital Banking, Digital Acquiring, Digital Wallets, Payments, and Tokenization APIs, along with mobile SDKs for iOS and Android. The architecture is built on event-driven design, microservices foundation, and API-first philosophy with near-infinite scalability.

Differentiator

Problem solved

Functional benefit

Brands

• NovoCard: Credit, debit, and prepaid card issuance solution for redefining customer experience
• NovoSpend
• NovoFlow
• NovoFlux
• NovoCredit

Products and services

• NovoCard Card issuance solution enabling design and management of credit, debit, and prepaid card programs supporting Mastercard, Visa, and closed-loop solutions, with features including card tokenization, Push Provisioning for digital wallets, 3DS authentication, and digital card management. Sold to banks, fintechs, and enterprises seeking to launch or modernize card products.
• NovoSpend Corporate expense management solution enabling customizable prepaid card programs for employee and contractor expenses, with cash flow management, operational spending visibility, and support for closed-loop and open-loop configurations. Sold to banks, fintechs, and enterprises serving corporate clients.
• NovoFlow Payment and correspondent network switch connecting banking participants, supporting book-to-book transfers across banks, real-time inter-institutional payments, and closed-loop merchant schemes. Sold to financial institutions building payment networks or operating as correspondents.
• NovoFlux Cloud-native payments switch for card processing that enables banks and fintechs to route transactions dynamically, reliably, and securely, with real-time authorization, low latency, high reliability, and direct cloud-based connectivity to payment networks.
• NovoCredit Comprehensive credit management platform for loan servicing, management, and automation featuring configuration-first design, automated collections, and a servicing suite for back-office optimization. Sold to lenders and financial institutions operating credit businesses.

Quantifiable outcome

• Authorization speed up to 99% faster than legacy systems
• +3 more outcomes

Named customers8 records

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Feature10 records

Partnerships

Two partnerships are on record, tiered core.

• VisacoreTechnology or IntegrationCertified Visa Ready partner enabling NovoPayment clients to issue Visa-branded cards including credit, debit, and prepaid products. Provides access to Visa payment network infrastructure for authorization, clearing, and real-time payment capabilities.
• MastercardcoreTechnology or IntegrationPartner enabling issuance of Mastercard-branded card products and access to Mastercard payment network for transaction processing, tokenization services, and digital wallet provisioning.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Marqeta: Public card-issuing platform providing APIs for credit, debit, and prepaid card programs on Visa and Mastercard rails. Directly comparable to NovoCard and NovoFlux, with similar enterprise and fintech customer profiles.
• Galileo Financial Technologies: Payment processing platform owned by SoFi offering card issuing, digital banking, and lending APIs. Directly comparable to NovoPayment's combined NovoCard, NovoCredit, and Digital Banking API stack.
• Lithic: API-first card issuing platform supporting credit, debit, and prepaid programs. Comparable to NovoCard on issuer processing capabilities and developer-first delivery model.
• Solid (formerly known as Solid Financial): Card issuing and banking-as-a-service platform providing APIs for card programs, ledger, and compliance. Comparable to NovoCard and NovoCredit across core fintech and emerging financial institution segments.
• i2c: Cloud-based payment processing and card management platform serving banks and fintechs globally. Comparable to NovoFlux's card-processing switch and NovoCard's lifecycle management capabilities.
• Treasury Prime: Banking-as-a-service platform providing APIs for accounts, cards, payments, and compliance to fintechs and banks. Comparable to NovoPayment's Digital Banking and Card Solutions APIs.
• Unit: Embedded banking and card-issuing platform offering APIs for accounts, lending, and card programs. Comparable to NovoCard and Digital Banking API with a similar developer-first delivery approach.

Broad incumbents

• Stripe Issuing: Card-issuing API from Stripe serving fintechs and platforms globally. Overlaps directly with NovoCard's embedded issuance capabilities and is part of Stripe's broader payments platform.

Regional players

• dLocal: LatAm-focused cross-border payments platform enabling merchants to process local payment methods. Comparable to NovoPayment's regional coverage and serves an overlapping enterprise/fintech customer base in the same geographies.
• EBANX: LatAm payments processor connecting global merchants to local payment methods and rails. Comparable regional player serving similar enterprise clients across Brazil, Mexico, and other LatAm markets.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks4 records

Key highlights6 records

Customer concentration

• Xx.com/novopayment
• LinkedInlinkedin.com/company/novopayment

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles5 records

Funding overview

Funding rounds3 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about NovoPayment