Digital payments provider Checkout.com has secured regulatory approval for its Merchant Acquirer Limited Purpose Bank (MALPB) charter from the Georgia Department of Banking and Finance in the US.

The move will allow the company to operate its own MALPB in the US, acting as its own acquirer in the market.

Checkout.com said the charter will also allow it to directly integrate with the US card network, giving it greater control over payments and leading to faster innovation, improved acceptance rates, and better performance.

The company says it is amongst the first global payment providers to complete the MALPB process.

This move coincides with a significant expansion of Checkout.com’s North American operations, which includes a new strategic hub in Atlanta, Georgia

Checkout.com said the new charter ensures the broader US enterprise market can leverage a payment platform specifically designed for the domestic landscape.

Last year, Checkout.com processed over $300 billion in e-commerce volumes for global enterprises including Uber, eBay, Pinterest, Klarna, and GE Healthcare.

"With our MALPB charter now approved, the ‘definitive catalyst’ we identified in October is officially activated and paves the way for a new era of payment performance,” said Jordan Reynolds, MALPB chief executive and head of North American Banking at Checkout.com. “Our focus is now on scaling our infrastructure and building up talent in Atlanta and the US to meet the rigorous conditions of our approval.”

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