The startup first launched a payment card for buying lunch. In some countries/places, companies must contribute to employees’ lunch. Some companies offer a cafeteria, others hand out meal vouchers. Until recently, those meal vouchers were made from paper. However, meal voucher companies started offering prepaid cards that are specifically designed to work in restaurants and stores that participate in the network.
Swile took advantage of that shift to offer a card. For instance, you can associate a debit card with your account so that your debit card is used if you pay for an expensive lunch above your daily limit. There are 210,000 people using Swile across 8,000 companies, according to TechCrunch.
Furthermore, the fintech aims to turn its card into an all-in-one payment solution. Users will be able to spend your gift card budget with your Swile card. Eventually, Swile could offer more ways to manage benefits, such as the ability for companies to pay for part of public transportation subscriptions.
Furthermore, the startup wants to support corporate culture with additional features in the app. For instance, you can celebrate events, create money pots, pay back your co-workers, and create team building events from Swile.
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