Payments giant Stripe is expanding its product portfolio by introducing Stripe Corporate Card, a credit card for business customers.
The launch of Corporate Card follows Stripe’s introduction of its money lending division, Stripe Capital, to quickly finance internet businesses running on Stripe.
Besides the launch of the credit card, the firm has also enabled payouts across 45 countries to make it easier for internet businesses to boost revenue and to expand internationally.
According to the firm, the Corporate Card for businesses can be activated within a few minutes from signing up to having a card. Users will also be given insights and smart controls over their cards.
The payments firm said that a business can upload its logo directly onto the Stripe Dashboard and will receive a virtual card instantly. The physical card will be received in a matter of days.
By using the Corporate Card, businesses can avoid expense-related backlogs and reconcile expenses as they occur. After making a purchase, the cardholder will receive a text confirming the purchase and they can also view the purchase on their Stripe Dashboard immediately.
The new Corporate Card users will receive 2% back on top two spending categories each month.
As per Stripe, the card does not come with any associated fees such as annual fees, foreign transaction fees, late fees, and card replacement fees, regardless of the number of employees in the business. Businesses can also plug the card into existing tools such as Quickbooks and Expensify.
Stripe has enabled payouts across 45 countries
The company has also announced that US businesses and platforms can make payments to recipients across 45 countries in local currencies and over local bank networks. Through this service, the platforms powered by Stripe can now send money to users in Thailand, Poland or Indonesia, with zero engineering work.
Businesses in the US can also choose to receive payments within minutes.
Recently, the payments firm launched services in Estonia, Greece, Latvia, Lithuania, Poland, Portugal, Slovakia and Slovenia to help internet businesses to start, grow and scale their businesses globally while accepting money from anywhere in the world.
The company also claims that the businesses using its services in these countries can now accept payments in over 130 currencies in less than 10 minutes.
In addition to accepting payments, the businesses can use Stripe to handle accounting, billing, paying out to third parties and optimising for mobile payments, all from one centralised dashboard.
