Stripe Introduces Corporate Card
Stripe has announced that it is launching a Corporate Card, a Visa credit card designed to help businesses, particularly those based online, manage their spending. The San Francisco-based tech company says that many of the existing solutions for managing business spending are not well suited to modern internet companies: they require lengthy applications, take time to implement, and add yet another service or integration for companies to manage.
With the Corporate Card, businesses on Stripe can get started right away. The company says it takes a few minutes from signing up to having a card to use online, and users get deep insights and smart controls over their cards.
Corporates can upload their logo directly into the Stripe Dashboard and they will have a virtual card (instantly) or a physical card (in a matter of days). The Corporate Card includes built-in, dynamic spending controls – spending limits can be set per person, per day, or per category, and certain categories of purchases can be blocked altogether.
It also includes real-time expense reporting, to avoid expense-related backlogs and reconcile expenses as they occur. For example, after making a purchase, cardholders will get a text confirming their purchase, and they can view purchases in their Stripe Dashboard immediately.
Businesses will receive 2% back on the top two spending categories each month. Stripe also says that there are no associated fees with the Corporate Card, regardless of the number of employees a business has. Businesses using the Stripe Corporate Card can also plug into existing tools such as Quickbooks and Expensify.