Checkout.com has secured the approval from the Georgia Department of Banking and Finance to progress its application for a Merchant Acquirer Limited Purpose Bank charter.
This milestone represents a key advancement in the company’s plans to broaden its presence across the United States. By obtaining this MALPB charter, Checkout.com aims to strengthen its position as an enterprise digital payments provider within the market. Should the approval be granted, the firm would gain direct access to US card networks, thereby increasing control over its payment processing and reducing dependency on external intermediaries. This structure is also expected to bolster its infrastructure for handling large-scale merchant operations.
Expanding Operations in North America
In conjunction with this application process, Checkout.com continues to deepen its investment in the US market. Since entering the country’s acquiring space in 2021, the company has seen a significant growth in its local business, accounting for approximately 15% of its global operations according to official statements. Transaction volumes have surged by over 80% in the United States during 2024, and Checkout.com anticipates managing more than USD 300 billion in e-commerce payment volume globally by 2025.
A new office is also being established in Atlanta, Georgia, a recognized center for payments and financial technology. The new facility will support regulatory activities alongside existing offices in New York and San Francisco. This move comes after the company’s recent entry into Canada earlier this year, marking further progress in its North American expansion.
Company representatives highlighted that securing this charter is a natural step following years of investments in the region’s payments landscape. They pointed out that the achievement mirrors their initial licensing success in the United Kingdom, which has facilitated growth in Europe. According to Checkout.com, the United States is currently the company’s fastest-growing market and is projected to become its largest by 2027.
The newly appointed head of the MALPB entity will be tasked with regulatory oversight and establishing direct network connections to ensure long-term operational stability. The firm aims to offer US enterprise merchants a more efficient digital payments solution compared to traditional acquirers.
