Mocapay

Mocapay operates as a digital-first issuer, processor, and program manager in the financial technology sector, providing customizable payment solutions. The company was originally founded in 2006 by Rod Stambaugh and Kevin Grieve in Denver, Colorado, and initially focused on mobile payments and marketing. In its early years, Mocapay enabled merchants to mobilize their gift and loyalty programs, allowing consumers to transact and manage their accounts via their mobile phones. A significant shift occurred in 2012 when the company revamped its business model from a per-transaction fee to a monthly subscription fee and expanded its technological options beyond SMS to better serve merchants. Some sources indicate the company went out of business in 2015, while others point to a re-founding or rebranding in 2019 as MOCA Financial. The current iteration of the company, now headquartered in the Austin, Texas area, was founded by individuals with extensive experience in the payments industry, including alumni from Visa, FIS, and the US Treasury.

The firm's core business revolves around a modular platform that allows clients, including financial institutions, government entities, and other fintechs, to create customized payment stacks. This includes issuing both physical and virtual cards, processing transactions, and managing payment programs under the client's own branding. Revenue is generated based on the specific services chosen by the client, ranging from a complete turnkey solution to standalone card processing. Mocapay targets a diverse client base, providing solutions for consumer debit and cash cards, business purchase and payroll cards, and government benefit cards like the PATRIOT Card. For businesses, the platform offers a multi-card management portal to oversee numerous cards, control spending, and manage funds in real-time.

The Mocapay service is delivered through a mobile application that provides users with significant control over their payment cards. Key features include the ability to create digital cards on-demand, receive real-time transaction alerts, and instantly turn cards on or off for enhanced security. Users can also view transaction histories and attach digital receipts to purchases. A notable benefit is the MOCA rewards program, which offers cash-back on qualifying purchases, with an incentive structure that encourages PINless transactions to maximize earnings. The platform supports adding MOCA cards to major digital wallets like Apple Pay and Google Pay, facilitating contactless payments. For families, it offers cards with parental controls, and for businesses, it provides detailed management features for employee and vendor cards.

Keywords: mobile payments, digital issuer, payment processor, program manager, fintech, card issuing, virtual cards, payment solutions, debit cards, purchase cards, payroll cards, government payments, PATRIOT Card, multi-card management, real-time alerts, card controls, MOCA Financial, payment stack, mobile marketing, loyalty programs