Stripe Launches a Corporate Credit Card

At their annual San Francisco conference, the e-payments specialist Stripe launched a corporate credit card for doing business online.

Goal: Streamline expense management for e-purchases.
Stripe Corporate Card is presented in partnership with Visa in the US. Their first corporate customers can make payments in 45 countries, using local currencies, through local banking networks, and accept payments in over 130 currencies.
How it works?
- Full-digital subscription process (only requiring a few seconds).
- Companies may upload their logo from Stripe Dashboard and have access to a virtual card (instantly) or a plastic card (within a few days).
- Stripe relies on all data in their possession to assess merchants’ creditworthiness.
Featured advantages:
- No associated fees: the card comes free of charge.
- Rewards: 2% discounts for cardholders.
- Integration with finance management software: client companies can easily connect with existing solutions including Expensify and Quickbooks.

High-potential market. According to a study by Mercator Advisory Group, the amount of credit card-based purchases for SMEs could reach $686 billion in 2022 (vs, $493 billion in 2017).
Diversification challenge. In order to withstand increasing competition on the payments market, Stripe announces more launches. They also presented additional features including an instant payment option. Stripe Corporate Card is a means for them to diversify their revenue sources while securing the loyalty of existing customers and valuing their KYC when it comes to payment solutions.
Geographical expansion. This American Unicorn also stresses they are still aiming for international reach with eight new European countries covered: Portugal, Poland, Slovakia, Greece, Slovenia, Latvia, Lithuania and Estonia.

Just a week ago, Stripe officially launched their lending service Stripe Capital.
This US Unicorn is challenging the Californian FinTech Brex, which also unveiled a relatively similar offer. Brex also features corporate credit cards for SMEs and start-ups.

Category : Alertes quotidiennes