Co-Brand Debit Program Features

This guide outlines the operational model for the SoFi Tech Solutions co-brand debit program. It details the specific services provided by SoFi Tech Solutions and clarifies the responsibilities for each partner in this full-stack, managed solution.

Sponsor bank partnership

SoFi Tech Solutions manages the relationship and communication with the sponsor bank to set up the program, and coordinates with Visa and Mastercard to set up the BIN sponsorship.

Compliance and legal requirements

SoFi Tech Solutions oversees adherence to all legal and compliance requirements, including but not limited to terms and conditions, disclosures, account agreements, and customer policies such as complaint management. To ensure strict regulatory compliance with the BSA/AML policies, all co-brand debit applicants are subject to thorough identity verification during onboarding as the first line of defense against fraud.

End-customer digital experience application

As part of the full-stack solution, SoFi Tech Solutions provides a white-label web and mobile app that is customized to look and feel like your brand. Your customers will use the web and mobile app to onboard the program and access their co-brand rewards account. The application is launched and managed by SoFi Tech Solutions with minimal development effort.

See the Co-Brand Debit Application Platform guide for a complete list of the supported user journeys.

Rewards program design

SoFi Tech Solutions works with you to design a unique rewards offering for your co-branded rewards debit card. SoFi Tech Solutions is integrated with Ascenda, a third-party rewards provider, to calculate and track the lifetime rewards based on customer transaction data. Customers are required to link their Rewards ID with your brand during onboarding. Customers can view their lifetime rewards points in the co-brand application to redeem points towards rewards in your proprietary app.

Card issuance and processing

After onboarding, cardholders are issued a digital card that can be used immediately, Depending on your program design, your customers can also receive a physical card automatically upon account opening or by request. See the Choose a Card Strategy to learn what is best for your program.

Programs also come with card management features including setting a PIN, replacing lost, stolen, or damaged cards, reissuing expiring cards, and assessing associated fees.

Transaction processing capabilities

Co-brand programs are implemented with SoFi Tech Solutions transaction processing features that are relevant for a co-branded rewards debit cards, including but not limited to ACH and wire transfers, bill pay to a service provider, and secure external account linking and verification.

Secure external account linking

Secure instant account linking enables account holders to connect their external accounts to their co-branded debit card with their explicit consent. This open-banking feature uses secure API connections to retrieve account details for ownership verification by SoFi Tech Solutions, eliminating manual entry and ensuring user credentials are never exposed. Once linked, account holders can immediately begin ACH transfers to their accounts. This feature is powered by Mastercard Data Connect.

Balance inquiry

Balance inquiry ensures that funds are available before a customer initiates an ACH transfer to the co-brand debit account. This helps mitigate NSF risks, which can be disruptive to the cardholder experience and transaction process. This feature is powered by Mastercard Data Connect.

Instant account funding

Instant debit transfers enable account holders to securely pull funds from an external debit card account to immediately fund an account. Upon opening an account, cardholders manually enter their existing debit card details to initiate a transfer to fund their co-branded rewards debit card.

Instant debit transfers are specifically designed for cardholders to move funds between accounts they own. It is not intended for facilitating transfers to or from accounts owned by different individuals.

Statements

Cardholders can access on-demand PDF statements directly in the co-branded debit rewards app. Each statement details all account activity, including summaries of deposits, credits, and fees, along with individual transaction details for the period.

Statements are generated on a monthly cycle and cardholders are notified via email of their latest statement. Cardholders can access up to a 24-month statement history. Cardholders can request paper statements in the mail by contacting customer service.

All statements are customized with your brand’s name and logo, and are designed to meet the necessary regulatory and compliance requirements.

Risk and fraud management

Risk and fraud management is integrated throughout a co-brand debit program to protect your customers and your brand from reputational harm. During onboarding, all co-brand debit card customers are subject to identity verification and screened for synthetic or stolen PII, significantly reducing identity fraud. Once the account is open, cardholders are continuously protected using behavioral biometrics and device trust signals to prevent account takeovers. Co-brand debit programs are integrated with Payment Risk Platform and GIVE to continuously monitor and mitigate fraudulent activity. SoFi Tech Solutions is directly responsible for the design and implementation of your fraud rules and is obligated to continue adjusting them as needed.

See Disputes management for details on dispute investigation process and services.

Cardholder services

SoFi Tech Solutions acts as the extension of your customer service organization for co-brand programs. Customer service agents are trained on the co-brand platform and are experts in payments, ready to help customers with questions that need to be addressed outside of the automated SoFi Tech Solutions Voice (also known as IVR) and chat support.

Multichannel customer service

By phone, cardholders will first interact with the IVR system which requires multi-factor authentication to validate their identity to gain secure access to their account information. The customer will be presented with a menu of self-service options.

Cardholders also have access to chat when logged in to the mobile or web app. Chat is integrated with our Program API, allowing AI-powered virtual personal banking assistants to retrieve cardholder specific information, such as account information and balance inquiries.

The following are the types of inquiries that are handled by IVR and chat for co-brand debit programs.

Card management

Cardholder inquiries related to managing their physical or virtual co-branded rewards debit card:

• Activate virtual or physical cards
• Set or change PIN
• Report a card as lost, stolen, or damaged cards
• Request to temporarily freeze/unfreeze a card
• Request to reissue a card, including validating the shipping address for a physical card
• Add a secondary account to the co-brand debit rewards account

Account information

Cardholder inquiries about their account status and transaction history:

• Balance inquiries
• Request recent transaction history, including authorizations, settled transactions, and deposits
• Review direct deposit information, including the account and routing number used for their direct deposit and the deposit amount of the last direct deposit
• Check rewards balance
• Security and permissions, including international transactions and account flags
• Verify fees, including pending, fees month-to-date and year-to-date
• Provide load/retail locations (location/address/phone)

Bill payments and transfers

Cardholder inquiries about moving money:

• Bill pay to authorized service providers
• Review bill payments
• Transfers —
  • Request to transfer money to a linked bank account
  • Send funds to and from a linked account

Disputes management

SoFi Tech Solutions provides end-to-end management of the dispute process for both card transactions and ACH disputes. When a cardholder contacts customer service, SoFi Tech Solutions agents gather all necessary information, such as written statements and sales receipts. SoFi Tech Solutions disputes services reviews the information collected during intake, all cardholder information and transaction history, as well as any information provided by the merchant through the chargeback process. Throughout the dispute investigation, SoFi Tech Solutions ensures the cardholder receives timely, accurate, and compliant updates at every stage. SoFi Tech Solutions disputes services adheres to all required regulatory timeframes and obligations, as applicable.

Cardholder communications

SoFi Tech Solutions manages cardholder communications for co-brand debit programs, using email to inform customers of specific activity on their accounts.

Card lifecycle marketing

SoFi Tech Solutions runs the full spectrum of activation and utilization marketing to support co-branded debit card programs end-to-end. This includes driving engagement, activation, and spend through a comprehensive lifecycle marketing strategy designed to deepen usage and build loyalty to your brand. Campaigns prompt customers to fund their account upon opening, set up direct deposit to strengthen ongoing usage, and continue using their card to earn rewards and maintain engagement over time.

To accelerate launch and maximize conversion, we build a dedicated, fully branded product experience page that clearly communicates the card’s value proposition and showcases its core benefits.

Contact SoFi Tech Solutions if you are interested in launching a co-brand debit program.