Stripe Launches Corporate Credit Card

After launching its lending arm, Stripe Capital, payments firm, Stripe, recently announced that it will be offering a credit card to its customers. TechCrunch reports that the company will be releasing the Stripe Corporate Credit Card targeted at business clients.

In a Stripe Session, the firm’s developer event, it announced that it will be opening its services to “businesses that are incorporated in the US.” Prospective clients are required to be incorporated in the country but can operate elsewhere.

Powered by Visa, the Stripe Corporate Card does not have an interest rate or fee, as of this writing. However, clients are required to “pay their balance in full each month.” Even without rates and fees as of the moment, the company is expected to make money through interchange fees which will be charged when users make transactions.

The company’s business lead Cristina Cordova remarked that the firm will not implement policies that will freeze the accounts due to late payments or failure to pay. Cordova acknowledged that non-payments often occur because clients switched to another account and failed to make the necessary information changes.

Cordova said that the company will encounter minimal problems with non-payments because of Stripe’s payments services. With its payments arm, they are bound to have the correct banking information that allows them to accept revenue.

The launching of the corporate credit card as part of its efforts to make the services more diverse. Through developing and offering varied financial services, the company seeks to be recognized as a “one-stop-shop for e-commerce and other companies.” This way, the firm will be able to provide for most, if not all, financial transactions required by their clients.

Aside from the credit card, the company is also offering a wide range of new services including billing, invoicing, and in-person payments.

RELATED ARTICLES

Program for an Electric Vehicle Tax Credit for Union-Built Vehicles
Credit

Program for an Electric Vehicle Tax Credit for Union-Built Vehicles Faces Obstacle

House Democrats' plan to provide customers with an additional option to encourage union-built vehicles has sparked controversy and discussion among legislators, manufacturers, and other parties. The House Ways and Means Committee last week cleared the tax breaks for consideration in the Democrats' $3.5 trillion budget bill measure, despite vocal objections...
Williams-Sonoma Key Rewards Credit Card Program
Credit

Williams-Sonoma and Capital One Introduce The Key Rewards Credit Card Program

Williams-Sonoma, Inc., a leading American home retail company, revealed that it has partnered with bank holding company Capital One to introduce the Key Rewards Credit Card Program. The company’s top-level Key Rewards program is upgraded with new credit cards. Cardholders can accumulate rewards when they shop at Williams Sonoma, Inc....
Federal Bank Credit Cards In Partnership With Visa
Credit

Federal Bank Introduces Credit Cards In Partnership With Visa

Federal Bank has announced the introduction of its credit card in India. To offer credit cards to its current clients, the private banking company has collaborated with Visa, the worldwide financial services corporation. As per Shyam Srinivasan, Managing Director and CEO of Federal Bank, the issuance of the card would...
Wells Fargo Personal Credit Lines Closure Plan
Credit

Wells Fargo Drops Personal Credit Lines Closure Plan

Wells Fargo & Co. sparked a public outcry when it announced plans to phase down personal lines of credit in July, but the firm will reverse direction on August 18, 2021. Customers who have been using their personal credit lines have just received notice from the San Francisco-based lender...
Universal Credit Human Rights Legislation
Credit

The Reduction in Universal Credit Violates Human Rights Legislation

According to the UN's poverty expert, reducing universal credit by £20 per week is an "unjustifiable" decision that violates human rights law and would certainly lead to an expansion of poverty. The retreat of the £1,000-a-year uplift from next month, according to Olivier De Schutter, the UN-appointed chair of the...
Credit Cards Dark Web Data Leak
Credit

Hackers Leak 1M Credit Cards on the Dark Web

One million stolen credit cards have been posted by hackers on the Dark Web through AllWorld.Cards. The act was reportedly done by cybercriminals in an attempt to promote their activities and operations, as well as make their organization known. The leaked credit card information was discovered by cybersecurity researchers from...
Carter’s Child Tax Credit May Boost Children’s Apparel Business
Credit

Carter’s Says Child Tax Credit May Boost Children’s Apparel Business

Carter’s, an American retailer for children’s apparel, says that with the new child tax credit rolling out across the United States, and as the usual shopping for back-to-school resumes, the company is confident about its opportunities. To meet the consumers’ demand, the company is being compelled to pay extra to...
Younited Credit Yields Million in Fund
Credit

Younited Credit Yields $170 Million in Fund Round

Younited Credit, a France-based company, has secured $170 million in fund round. Consumers in Europe can choose from a variety of credit options offered by the startup. It also employs a multi-distribution method. The funding round, which is led by Goldman Sachs, has participants including existing investors such as Bpifrance,...
Sterling Construction Modifies Credit Agreement
Credit

Sterling Construction Modifies Credit Agreement with BMO Harris Bank

Sterling Construction Company, Inc. has modified its current credit agreement with BMO Harris Bank, its lending group. It has revealed that numerous terms of the agreement are revised. Two of the terms include lowering the existing credit agreement borrowing interest rate by 2% points and reducing the credit agreement's future...