Swan
Paris-based e-money institution that embeds business accounts, IBANs and card programmes into software products through one API
Quick Overview
| Company | SWAN SAS |
|---|---|
| Category | Card Issuing Platforms |
| Headquarters | Paris, France |
| Founded | Not stated |
| EU Presence | Yes - France (EU) |
| Data Location | Not specified on the vendor pages checked |
| Open Source | No |
| GDPR Compliant | Yes |
| Self-Hosting | No |
| Main Features | Embedded accounts, local IBANs (FR, DE, ES, NL, IT), SEPA and multi-currency transfers, virtual IBANs, branded physical and virtual cards, Apple Pay and Google Pay, sandbox, API explorer |
| Pricing | Swan on demand from EUR 2,990 per month; Swan Enterprise is custom |
| Best For | Accounting, HR and treasury software that wants to offer business banking |
| Replaces | Marqeta, Stripe Issuing, Lithic |
Detailed Review
Swan is registered with the Paris Trade and Companies Register under number 853 827 103, and its legal notice states it is an electronic money institution under French law. The company sells to software vendors, not to end consumers.
Cards are one part of a wider embedded banking product: accounts, IBANs, transfers and cards come from the same contract.
Cards tied to the account
Card programmes cover expense cards and employee benefit cards, with the company logo on the card and physical, virtual and wallet-based versions. The cards sit on accounts that carry local IBANs starting with FR, DE, ES, NL and IT.
A card package launch on the site mentions three tiers with built-in insurance.
A price you can read
Swan on demand starts from 2990 euro per month and is described as ready-made services covering accounts, payments and cards. Enterprise terms add interchange revenue sharing and custom card design.
Few issuers print a number at all, which helps a product team build a business case before a sales call.
Sandbox and tooling
The sandbox is free, with unlimited fake accounts, cards and payments, an event simulator and a Postman collection. Swan also publishes repositories on GitHub for developers.
The documentation is aimed at software vendors embedding banking, not at banks building a processor.
Limitations to Consider
Swan is built around business accounts, so a card-only programme that has no account behind it is a poor match. Pricing starts at EUR 2,990 per month, which excludes pre-seed products. It is not a processor you can run a bank's existing card portfolio on, and the issuing is French-regulated with IBAN countries limited to those listed. Treezor and Wallester are alternatives with more card-specific options.
Who Should Use Swan
Software vendors in accounting, HR, treasury or property that want business accounts and cards in the product and can fund a monthly platform fee.
Pros and Cons
Pros
- Price published on the site
- French e-money licence
- Local IBANs in five countries
- Free sandbox with simulator
- Interchange sharing on enterprise terms
Cons
- Starts at EUR 2,990 per month
- Not for card-only programmes
- Aimed at business customers
- Five IBAN countries only
Alternatives to Swan
Other European card issuing platforms worth comparing before you decide:
Wallester
Estonia · Estonian Visa principal member with white-label IBAN and card issuing
Treezor
France · French e-money institution selling cards as a modular service
Enfuce
Finland · Helsinki issuer processor running card programmes per tenant
Paynetics
Bulgaria · Bulgarian e-money institution sponsoring Visa and Mastercard BINs
See all European card issuing platforms or compare them directly against Marqeta on our alternatives page.
Frequently Asked Questions
Its pricing page shows Swan on demand from 2990 euro per month. Enterprise terms are custom and can include interchange revenue sharing.
The product pages present cards as part of business accounts. A standalone card programme is not described, so ask Swan if you need one.
Its legal notice names SWAN, a simplified joint-stock company registered in Paris with a capital of 951,164.50 euro, and describes it as an electronic money institution under French law.