Checkout.com is the latest payments company to receive a special-purpose banking charter in Georgia.
The payments processor said in a press release that it was approved for a merchant acquirer limited purpose bank charter. Conditional approval includes certain stipulations that must first be met.
“Securing the charter allows Checkout.com to accelerate plans to operate as its own acquirer in the U.S.,” the company said. “This move underscores a significant expansion of North American operations, anchored by a new strategic hub in Atlanta, Georgia, alongside established offices in New York and San Francisco.”
Firserv and Stripe have also obtained the charter.