The Stripe Corporate Card will cater to the small businesses and startups in the US on Stripe’s payments platform, the company said. The card will aim to solve what the company says is a challenge for smaller companies that have trouble securing cards to buy supplies and to issue to employees.
Small business cards are projected to reach about USD 700 billion in transactions by 2022, according to payments consultant Mercator Advisory Group. The industry has long been dominated by traditional credit card giants, but new tech players are gaining ground.
The Stripe Corporate Card will be available to businesses in the US with international expansion coming soon. As long as a business has an account with Stripe, even if the companies don’t process payments on the platform, they will be able to apply.
In recent news, Stripe has announced it is set to expand into eight European countries, primarily on the eastern side of the continent.
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