Mahi Sall, Advisor, Fintech-Bank Partnerships, Payments and Financial Inclusivity
January 25th, 2023
Mahi Sall is the CEO & Founder of FinXpair, a Berlin-based strategic advisory boutique firm focu[...]
Stripe Expands Its Issuing Platform with a New Charge Card Program for Fintech Startups
Stripe | Release | Jun 1, 2023
Image: Stripe
Stripe launches a new charge card program on its Stripe Issuing platform.
- Stripe is set to transform the fintech space with its new charge card program for Stripe Issuing, allowing fintech startups and platforms to offer flexible credit options via expense cards.
- This innovation creates new revenue streams and empowers small businesses with reliable credit access.
- Since its launch in 2018, Stripe Issuing has seen substantial usage, facilitating the creation of over 100 million cards in the US, UK, and EU, and supporting half a million daily transactions.
- Stripe simplifies the process of building a charge card program by handling repayment collection, lending compliance, licensing requirements, and more.
- The charge card program offers core features like funds flow, network connections, printing, and integration APIs, all while efficiently managing necessary compliance, bank partnerships, and ledgering.
- The launch of Stripe's charge card program addresses the increasing concern of 77% of small-to-medium-sized businesses (SMBs) over access to financing, according to a recent survey. This move will enable software platforms to provide the necessary capital for their customer's growth.
See: OpenAI and Stripe Announce Partnership to Monetize OpenAI’s Flagship Products
- Stripe's innovative solution caters to the cash flow needs of platforms by allowing them to send funds after transaction settlements, reducing the need for large cash reserves.
- Companies like Ramp, Emburse, Karat, and Coast are already benefiting from the charge card program, which is currently in beta in the US and set to expand to the EU and UK.
View the original release --> here
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