What Berkeley Payment Solutions does

Berkeley Payment Solutions Inc. is a Toronto, Canada-based Banking-as-a-Service (BaaS) provider founded in 2006, operating as a single-API platform for card issuance, real-time money movement, and regulatory compliance. Its product suite spans the Card Issuance Platform (physical and virtual prepaid, debit, and credit cards with full lifecycle management), the Real-Time Payments Platform (Visa Direct, Interac e-Transfer, RTP/FedNow, EFT/ACH), and the Bank-in-a-Box API for embedded neo-banking, all delivered with compliance-as-a-service covering KYC, KYB, AML, FINTRAC, FinCEN/BSA, and RPAA, and certified under SOC 2 Type II and PCI DSS 4.0. The technology is a cloud-native microservices platform with an immutable ledger and a real-time business logic engine for spending controls; in May 2025 the company completed migration of 300,000+ cards to Episode Six's infrastructure, delivering 300% faster API speeds, 40% throughput increase, and 99.99% uptime. Berkeley serves banks, challenger banks, government agencies, and large enterprises (named clients include EQ Bank, H&R Block, Dayforce, Nestlé, Kraft, LG, Coca-Cola, Avon, Government of Alberta, and a major global payroll provider) with white-label card programs, embedded banking, and real-time disbursements. Revenue is generated through transaction fees on BaaS platform services (card issuing, money movement, API usage, program management) plus managed-services fees for ongoing program administration and 24/7 cardholder support, under quote-based multi-year enterprise contracts; pricing is not publicly disclosed. The company operates with 11-50 employees from Oakville (HQ) and Toronto, and is led by Founder and Executive Vice Chairman Jonathon Hamburg.

Name

Berkeley Payment Solutions

Legal name

Berkeley Payment Solutions Inc.

Website

https://berkeleypayment.com

Company type

Private

Founded year

2006

Operating status

Operating

Headcount range

11–50 employees

Short description

Berkeley Payment Solutions is a Canadian Banking-as-a-Service provider, founded 2006, offering a single-API platform for card issuance, real-time money movement, and compliance infrastructure. It serves banks, governments, and large enterprises with white-label prepaid, debit, and credit programs across North America.

Ownership category

akta.pro rank

Product category

Banking-as-a-Service Platform

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320), Credit Card Issuing (52221)

SIC

Finance Services (6199), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

BaaS Platforms & Sponsor Bank Enablement (FSAGALAA)

akta.pro secondary industries

Card Issuing & Program Management Platforms (BPAMAFAH), Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB), Payables & Disbursements (ACH/SEPA, wires, checks, virtual cards) (FSABAIAB)

Keywords

• Banking-as-a-service platform
• Card issuance solutions
• Real-time payments infrastructure
• White-label payment programs
• Embedded finance APIs

Headquarters

HQ city

Toronto

HQ country

Canada

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

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

Revenue model

1. BaaS Platform Services: Banking-as-a-Service platform providing card issuing, money movement, and compliance infrastructure. Revenue derived from transaction processing fees, API usage, and platform management fees for white-label card programs and payment solutions.
2. Managed Services: Full-service program management including card issuance, fulfillment, KYC/AML compliance, and 24/7 cardholder support. Revenue from ongoing service fees for program management and support.

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels8 records

Core offering

Berkeley Payment Solutions provides a unified Banking-as-a-Service (BaaS) platform that enables banks, governments, and enterprises to launch white-label card programs and embedded payment solutions through a single API integration. The platform manages the full card issuance lifecycle (physical and virtual prepaid, debit, and credit cards), real-time money movement across Visa Direct, Interac e-Transfer, RTP/FedNow, and ACH/EFT rails, and a complete compliance chain covering KYC, KYB, and AML.

Product overview

Berkeley Payment Solutions offers a unified Banking-as-a-Service platform combining card issuance, real-time payments, and compliance infrastructure. The core offering consists of the Card Issuance Platform for physical and virtual prepaid/debit/credit cards, the Real-Time Payments Platform supporting Visa Direct, Interac e-Transfer, RTP/FedNow, and ACH rails, and the Bank-in-a-Box API for embedded neo-banking capabilities. These are complemented by Compliance-as-a-Service covering KYC/KYB/AML, and feature modules including Virtual Cards, Device Tokenization (X-Pays), Spending Controls, White Label Card Design, and Payroll Direct Deposit. All components can be delivered white-label to enterprise clients.

Differentiator

Problem solved

Functional benefit

Products and services

• Card Issuance Platform End-to-end card issuance platform covering design, issuance, funding, management, and cardholder support for physical and virtual prepaid, debit, and credit cards. Supports chip + magstripe, custom graphics, embossing, and instant virtual card provisioning via email or SMS. Built for banks, fintechs, and enterprises launching white-label card programs.
• Real-Time Payments Platform Real-time money movement platform offering complete payout control across major payment rails including Visa Direct (under 30 seconds to any Visa debit cardholder), Interac e-Transfer, RTP/FedNow, and EFT/ACH. Supports disbursements, transfers, loads, unloads, and supplier payments through a single integration.
• Bank-in-a-Box API Neo-banking suite API enabling clients to embed complete digital banking capabilities into their offerings, including demand deposit accounts and card-linked banking features. Targeted at fintechs and enterprises building embedded financial products.
• Compliance-as-a-Service Full compliance chain covering KYC, KYB, AML, regulatory reporting, and alignment with FINTRAC, RPAA, FinCEN, and BSA frameworks. SOC 2 Type II and PCI DSS 4.0 certified. Designed for banks, fintechs, and enterprises that require regulated onboarding and monitoring infrastructure.

Quantifiable outcome

• 5x faster time-to-market compared to traditional infrastructure builds
• +7 more outcomes

Named customers13 records

Segments6 records

Ideal customer profiles4 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature8 records

Partnerships

Five partnerships are on record, tiered core and flagship.

• Episode SixcoreTechnology or Integration · 6 May 2025Episode Six is a cloud-native card issuer processing platform. Berkeley completed a migration to Episode Six's infrastructure in less than five months, supporting expansion across North America. The partnership enables Berkeley to support growth into new markets with a flexible, scalable card processing platform. Migration delivered 300% faster API speeds and 99.99% uptime.
• VisacoreTechnology or IntegrationBerkeley issues Visa-branded cards through partner banks under Visa licenses. Supports Visa Direct for funds reaching Visa debit cardholders in under 30 seconds.
• MastercardcoreTechnology or IntegrationBerkeley issues Mastercard-branded cards through partner banks under Mastercard licenses. Cards function through the Mastercard network globally.
• EQ BankflagshipStrategic or Co-development PartnerEQ Bank leveraged Berkeley's multi-tenant, tier-1 PCI compliant platform to build a bank-account linked card solution. The partnership enabled EQ Bank to offer everyday banking capabilities without building core infrastructure. EQ Bank reached $1B in funds loaded on Berkeley's platform.
• Partner Banks (FDIC/CDIC)coreTechnology or IntegrationBerkeley's partner banks provide banking and money movement services. Banks are Members FDIC in the US and CDIC in Canada. Funds reside in bank-controlled omnibus accounts.

Scale indicators8 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Marqeta: Marqeta is a publicly-traded card-issuing and modern card-processing platform that powers prepaid, debit, and credit card programs via API. It is the closest direct competitor to Berkeley's card issuance and money-movement platform, serving similar fintech, gig-economy, and enterprise customers with comparable API-first infrastructure.
• Galileo Financial Technologies: Galileo, owned by SoFi, provides API-based card issuing, money movement, and banking infrastructure to fintechs, banks, and brands. It is explicitly listed as a Berkeley partner but is also a direct competitor offering similar single-API BaaS capabilities and is expected to compete on enterprise deals.
• Stripe Issuing: Stripe Issuing is Stripe's API-first card-issuing product that lets platforms and fintechs create and manage physical and virtual cards. It directly competes with Berkeley's Card Issuance Platform for developer-driven fintech customers and offers comparable real-time controls and white-label capabilities.
• Treasury Prime: Treasury Prime is a BaaS platform offering APIs for embedded banking, card issuing, and money movement to banks, fintechs, and brands. It directly competes with Berkeley's Bank-in-a-Box API and card issuance platform, especially for community bank and credit union customers in the US.
• Unit: Unit is an embedded banking and BaaS platform offering banking-as-a-service APIs for businesses to embed accounts, cards, and payments. It directly competes with Berkeley's Bank-in-a-Box offering for startups and fintech customers seeking full-stack embedded banking.
• Synctera: Synctera is a BaaS platform pairing fintechs with sponsor banks to deliver embedded banking, card issuing, and compliance. It is a direct competitor to Berkeley in the BaaS + sponsor bank enablement space, particularly targeting community banks and fintechs in North America.

Broad incumbents

• Adyen: Adyen is a global payments platform providing unified payment processing, acquiring, and issuing services to large enterprises. While broader in scope than Berkeley, Adyen's issuing and embedded finance offerings overlap with Berkeley's real-time money movement and card issuance for enterprise customers.
• FIS: FIS is a large financial technology incumbent providing core banking, card issuing, payments processing, and risk management. Listed as a Berkeley ecosystem partner, FIS also competes as a broader incumbent offering issuing and processing capabilities to banks and enterprises.
• Finastra: Finastra is a global financial software provider offering core banking, payments, lending, and capital markets technology to banks. It competes with Berkeley at the broader bank-infrastructure layer, particularly for established banks evaluating build-versus-buy decisions for embedded finance and card programs.

Emerging players

• Thought Machine: Thought Machine provides cloud-native core banking technology (Vault) that enables banks to build modern, configurable banking products. It is adjacent to Berkeley's BaaS offering, competing for the same tier-1 bank customers that are considering modernizing card and deposit infrastructure.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks5 records

Key highlights6 records

Customer concentration

• Xx.com/berkeleypmnt
• Facebookfacebook.com/BerkeleyPmnt
• LinkedInlinkedin.com/company/560764
• Instagraminstagram.com/berkeleypmnt

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors

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 Berkeley Payment Solutions