Deserve launches a platform for commercial credit cards that empowers banks

Deserve, a fintech company that converts credit cards into software that lives mobile and in cloud, today announced that it is changing commercial credit cards by offering the first platform of its kind that allows banks and B2B companies to create corporate credit and charge card programs.

According to a recent study by the Mercator Advisory Group, small businesses will account for more than $700 trillion in credit card transactions by 2023. Deserve’s platform will help more financial institutions and other platforms to more easily issue commercial credit cards for these transactions.

The Deserve Commercial Credit Card Platform was created to assist companies of all sizes. This includes banks, online lenders, fintechs, and marketplace businesses. It allows them to create credit or charge cards for customers. The digital application is easy and frictionless, and cardholders can use their cards in minutes. Deserve provides enterprise-level controls that make it easy for CFOs and other financial professionals to manage, track, and understand expenses.

“We are extending our digital, cloud-native, mobile-first platform from consumer cards to commercial. This will allow any financial institution that services other businesses to issue and embed commercial credit cards. For non-banks, this can be a significant source of revenue and can enhance brand loyalty,” Kalpesh Kapadia is the CEO and cofounder of Deserve. “Our platform will enable those who serve small and medium-sized businesses and corporations to offer true credit combined with sophisticated expense management. We are thrilled to have Customers Bank as the first bank on our platform.”

Deserve Commercial Credit Card Platform will allow its commercial card partners the ability to offer customers flexible and rich credit card rewards. With Deserve’s Commercial Credit Card Platform, companies can provide cash back rewards or other unique value propositions to their customers.

Deserve’s platform will enable commercial card programs on either a white-label basis, or by fully embedding into partners’ digital capabilities through APIs and SDKs. With instant issuing, configurable underwriting, business owner control over employee card assignments, easy visualization of spend categories and trends, and precise control over employee spending, Deserve’s partners can launch and provide industry-leading commercial credit cards in a matter of months and through a single contract with Deserve.

“When we were approached by Deserve about partnering to help bring this innovative new platform to the small business sector, we could not pass up the opportunity,” Sam Sidhu is President and CEO at Customers Bank. “Together with Deserve, we are looking forward to offering an exciting and valuable product to our small business customers, combining credit with powerful expense management.”

Get latest news from African Startup ecosystem

Latest stories

You might also like...