Payments firm MuchBetter has recently obtained a Principal Licence from Mastercard, enabling it to issue cards directly in the United Kingdom and, with pending regulatory approval, in Israel. This significant regulatory milestone marks an expansion of the company’s card services and its presence in both markets.
With this new issuing capability, MuchBetter can now operate independently through direct access to the Mastercard network, reducing time-to-market for clients and simplifying operational processes. Previously, it had relied on intermediary sponsors, but these licensing changes will allow MuchBetter to sponsor third-party card programmes as well.
The addition of these card-issuing capabilities is part of MuchBetter’s broader strategy to expand its B2B offerings. In May 2025, the company launched a business account product called MuchBetter Business (MBB), in collaboration with Temenos and supported by safeguarding arrangements with NatWest and SWIFT membership. This platform offers multi-currency accounts and supports international payments, foreign exchange execution, and biometric onboarding.
The Mastercard licence integrates directly into MuchBetter’s Cards-as-a-Service (CaaS) infrastructure, enhancing the B2B suite by embedding direct card issuing capabilities. This enables partners to deploy white-labelled or co-branded card solutions with regulatory support across both the UK and Israeli markets. In Israel, MuchBetter is exploring new programme partnerships and product launches as part of an international growth strategy, targeting underserved regions and sectors.
Other products in MuchBetter’s portfolio include a digital wallet for multi-currency transactions, wearable devices for contactless payments, and a gateway platform for B2B payment processing. The Principal Licence now supports customised issuing solutions through its CaaS offering.
Officials from MuchBetter state that the new licence introduces operational flexibility, accelerating the firm’s strategic roadmap in key jurisdictions while laying the groundwork for onboarding new partners seeking to issue card-based products with built-in compliance support.
