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Merchant success stories
ACE embraces embedded finance to expand its offering with card issuing

ACE embraces embedded finance to expand its offering with card issuing

May 2, 2023

ACE is an innovative fintech that is redefining how people manage their financial lives. It began as a money remittance service, ACE Money Transfer, with over a million customers sending money to over 100 countries worldwide. In recent years, it has expanded its offering by launching an all-in-one financial platform called ACE Union.

ACE Union is an Electronic Money Institution (EMI) product designed to streamline how people manage their financial lives. It gives its users access to a range of financial services, including online banking, payments, mobile top-ups, and rewards through a single mobile application.

At the core of the offering is the ACE Union card, powered by's end-to-end issuing solution.

Discover card issuing that flexes to your needs.

Building on a long-term partnership

ACE and have worked together since 2018, when ACE began using's acquiring solution to power its money transfer business and achieve faster funds settlement. When the ACE team learned that was issuing cards as a card issuer, processor and program management (aka end-to-end), they ensured they were at the front of the queue to use Issuing.

"Card issuing is a fragmented space, with many providers at each stage of the value chain," says Arslan Naeem, Chief Compliance Officer at ACE. "This has historically made it complex for companies like ACE to enter the market and launch a proposition."

The barriers to entry that Naeem references extend beyond the costs and complexity of onboarding multiple providers in order to issue, process and manage cards. It includes the resource requirements required to deal with multiple APIs, disparate data sources, and reconciliation—costs and complexity that stop many companies that are exploring issuing cards in their tracks.

"When we heard that was building a solution in-house, we saw the barriers to entry disappear and decided to embark on this journey together," Naeem adds.

"ACE is one of's pilot Issuing customers and today issues fully branded multi-use physical cards that its customers can easily add to their preferred digital wallet. "It's incredibly special to see our brand in our customers' hands with the physical card," says Rehan Ashraf, Relationship & Development Executive at ACE. "While the ability to virtualize these cards provides that seamless online and offline experience for our users."

Issuing also gives ACE complete control of its card program on the backend. For instance, by leveraging's Auth Relay service, ACE can approve or decline transactions in real-time based on its rule engine.

New product, same first-class service  

With a track record of success working together, the ACE team knew that would deliver. The team also knew they would receive the same dedicated level of customer service.

"We've always valued our acquiring relationship with," says Ashraf. "The team is always quick to respond should we have questions or issues that need resolving. That level of service and the energy of the team is the same on the issuing side."

Unlocking the embedded finance opportunity

The ACE story exemplifies how embedded finance is transforming the financial landscape by enabling any brand to launch a range of financial products to meet the needs of its customers. By partnering with, ACE has seamlessly diversified its revenue lines beyond remittance services and laid the foundations for further innovation.

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