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Visa invests in Bay Area fintech Deserve that can quickly issue digital credit cards in minutes

·1 min read
Visa invests in Bay Area fintech Deserve that can quickly issue digital credit cards in minutes
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San Francisco-based Visa invested an undisclosed sum in Deserve to expand the Palo Alto fintech’s credit-card-as-a-service that allows financial institutions, fintechs and others to issue digital cards within minutes. Founded in 2013, Deserve’s investor base also includes Mastercard (NYSE: MA), Accel, Sallie Mae (NASDAQ: SLM), Goldman Sachs Asset Management (NYSE: GS), Mission Holdings and Ally Financial (NYSE: ALLY). “We’re transforming credit cards into software that lives on mobile devices not in wallets,” said Kalpesh Kapadia, Deserve’s co-founder and CEO.