A Georgia Merchant Acquirer Limited Purpose Bank (MALPB) charter allows non-bank payment companies to directly access card networks, such as Visa or Mastercard, without a third-party bank sponsor. Regulated by the Georgia Department of Banking and Finance, these entities can process payments, underwrite merchants, and settle transactions but cannot accept public deposits, make loans, or issue cards.

Many fintechs have acquired a MALPB from the State of Georgia.

This ETA member call will discuss how the charter is working and the outlook.