Mr. Greg Feller reports

CARTA WORLDWIDE ANNOUNCES MULTI-YEAR DEAL WITH ORACLE CLOUD INFRASTRUCTURE TO DRIVE INNOVATION & GROWTH

Carta Worldwide Inc., an advanced card issuance platform owned and operated independently by Mogo Inc., has selected Oracle Cloud Infrastructure (OCI) to accelerate innovation and support future growth.

Carta is a digital payment platform that powers next-generation card programs for both established global corporations and innovative fintech companies in Europe and Canada. The Carta platform provides the infrastructure to help fintech and payments businesses build and manage their payment systems, and it supports prepaid, debit and credit card issuer processing. Carta is certified as a Visa and MasterCard processor with active card programs in over 35 countries. In the second quarter of 2023, Carta's payments volume was up over 50 per cent year over year to $2.5-billion.

As Carta continues to grow, migrating to OCI will help the company maintain operational efficiency and provide multiple benefits to the business, including higher availability, scale, agility and velocity to support significant increases in payments volume and new clients; improved application deployment; and enhanced business insights to enable better forecasting. OCI also provides Carta the flexibility to leverage multiple Oracle Cloud regions across the globe.

"We believe Carta is well positioned for long-term growth in the massive global payments market," said Greg Feller, president, Mogo. "With our migration to OCI, Carta will be better positioned to scale its business and achieve its vision to become one of the leading low-cost payments platforms in Europe and Canada."

"As financial services organizations continue to diversify their products and services to gain a competitive advantage, they need infrastructure that can support rapid customer growth and help drive operational efficiency," said Chris Markopoulos, group vice-president at Oracle. "The high performance and scalability of OCI will help Carta accelerate the growth of its customer base across Europe and Canada, and the ability to leverage Oracle's global cloud regions will provide Carta with significant flexibility to boost innovation and efficiency across its business."

About Carta Worldwide Inc.

Carta, owned by Mogo and operated independently, is a digital payment software company that provides technology and services that enable financial technology companies, banks and corporations to issue payment products to consumers through multiple channels, including physical, virtual and tokenized cards, as well as payment switching and routing services. Carta was founded in 2008 with a vision to build a modern issuer processing platform that could enable innovators around the globe to deploy a new wave of payment products. The Carta platform provides the infrastructure to help fintech and payments business build and manage their payment systems, and it supports prepaid, debit and credit card issuer processing. Carta is certified as Visa and MasterCard processor with active card programs in over 35 countries and annual transaction volume run rate of more than $10-billion.

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