As our instant gratification society continues to evolve, long wait times and everyday inconveniences are fast becoming a thing of the past – especially when it comes to delivery service. With so many online apps touting convenience as a benefit driver, one merely has to unlock their home screen to have their favorite restaurant deliver food right to their doorstep.
And this is just the type of business model that Stripe is targeting with Stripe Issuing. With this new service, businesses can take advantage of employee expense cards (powered by Mastercard) that feature customized design and dynamic spending limits – as well as pre-loaded virtual cards – that enable delivery drivers to pay for purchases directly from their mobile phones, according to Mastercard.
An end-to-end platform that enables businesses to efficiently create, manage and disburse both physical and virtual cards, Stripe Issuing’s biggest value add seems to tout the same theme of convenience.
Removing the traditional frustrations from card issuing such as lengthy development times, long-term contracts, complex requirements and costly up-front fees, Stripe Issuing takes a lot of the complexity out of this process, according to the company.
Already backed by Mastercard and supported by Visa, Stripe Issuing is certified with all the major card networks as an issuing processor – ensuring even more reliability and efficiency for businesses and platforms supported by Stripe.
“In our mission to grow the GDP of the internet, we’re making it easier than ever before for developers and technology-first companies to be able to create virtual or physical cards with just a few lines of code,” said Lachy Groom, head of Stripe Issuing. “This will help increase the velocity of money online and—more importantly—enable entirely new kinds of businesses to get started and succeed.”