4:09:55 AM PST - Thursday, December 8th, 2022

Unit’s banking-as-a-service platform is getting into the charge card game  

By Editor - Tue Nov 15, 2:58 pm

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If the banking-as-a-service fintech Unit does its job right, it will be ubiquitous among businesses and simultaneously have a name unknown to the end user. The company gives companies a way to embed financial services into their product — and after already launching debit cards, Unit is officially breaking into the charge card game. Unit customers can now use the startup’s API to build custom-designed charge cards for their own end users. Customers can offer their customers a charge card, credit card, revolving loan or any other credit products that Unit’s bank partners offer. On the back end, Unit will handle card printing, compliance and, once the card is in use, transaction tracking as well. According to co-founder and CEO Itai Damti , cards are Unit’s fourth and final pillar as a venture-backed company, adding onto its products in the debit, bank accounts and payments space. Just six months ago, Unit announced that it raised a $100 million Series C at a $1.2 billion valuation, making its total equity raised since inception to nearly $170 million. Charge cards, which are more popular than credit cards for small businesses, give Unit a way to enable customers to build and offer lending products, even though the startup is not a lender itself.

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Unit’s banking-as-a-service platform is getting into the charge card game

  • Comments Off on Unit’s banking-as-a-service platform is getting into the charge card game

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