Cardless introduces SMB market service offering

Serving the credit card needs of several firms, including Simon Property Group, LATAM Airlines, and other organisations, Cardless focuses its efforts on creating co-branded credit card products. The company’s objectives are supported by multiple investors, including Activant Capital, Pear VC, Commerce Ventures, HNVR, and Clocktower, among others. With Cardless recently reorganising its operations, the company intends to solidify its position in the market and expand its footprint in the SMB space, providing financial solutions that enable businesses to augment how they navigate the financial landscape.

When commenting on the announcement, representatives from Cardless underlined that entering the SMB space is set to enable their firm to take advantage of the growing market and address the specific needs, requirements, and demands that traditional financial services frequently overlook. Considering its previous experience in the airline industry and the expertise it gathered from customising solutions, Cardless intends to now apply this knowledge to support SMBs overcome their unique difficulties.

With its operations based in the US and started in 2019, Cardless has been centring its work on making card development more efficient in terms of implementation timelines compared to conventional credit card programs. The launch of its services in the SMB market follows the company’s collaboration with American Express from July 2022, when the firm aimed to allow US travel providers and retailers to introduce digital-first cards.

At that time, Cardless and American Express intended to enable customers to take advantage of rewards from their preferred brands and access the latter’s benefits, including Amex Offers for shopping, travel, dining services, and entertainment, and Global Dining Access by Resy, among others. Also, the two companies aimed to deliver a more tailored experience to customers, while increasing engagement rates.