Paymentology supports Maxim UK credit-card launch

Paymentology has partnered with Maxim to provide cloud-native issuer processing for Maxim’s new UK credit-card programme. The technology will run card issuing and transaction processing for Maxim’s product in the UK and support future scaling.

The partnership was announced at an event at Emirates Stadium on 27 August. Paymentology’s Global Head of Partnerships, Merusha Naidu, joined Maxim CEO Ibrahim Oladele on stage to discuss how modern payments infrastructure will support the new card offering.

Maxim developed the product to address gaps in credit access for people who move countries. Experian estimates more than five million people in the UK have little or no credit record available to lenders. Maxim’s initial UK focus is the Nigerian diaspora, offering cards to recent arrivals with limited UK credit history and to longer-term residents seeking services aligned with their spending.

Paymentology will provide issuer processing through its cloud-native Lume platform. The company says Lume supports banks, digital banks and fintechs across 68 countries and is designed to let partners launch and scale card programmes across markets.

Maxim’s card includes a points-based rewards system aimed at the interests and lifestyles of the African diaspora. Cardholders earn points on everyday spending and can redeem them for services and experiences such as African restaurants and brands, music events, live entertainment, transport, cinema, theatre, football tickets and shipping between the UK and Nigeria. Maxim already operates in Nigeria, where it provides interest-free credit products.

Ibrahim Oladele, Maxim’s CEO, commented: “Moving to a new country should not mean leaving your financial identity behind. Too many people arrive in the UK with years of experience and financial history, only to find that none of it counts. Maxim is building a more connected financial journey for Africans living across borders, beginning with credit cards that help customers establish their financial footprint while accessing rewards that reflect their lives.” Julie Sutton, Head of Growth Europe at Paymentology, added: “People’s lives increasingly cross borders, but financial systems do not always follow. Combining Maxim’s customer focus with cloud-native issuer processing gives the card programme technology to launch and scale in the UK and beyond.”

Consumers can apply for a Maxim credit card or find more information at www.trymaxim.com. The partnership pairs Maxim’s product and customer approach with Paymentology’s processing infrastructure to operate and expand the UK card programme.