Karbon Card, the corporate card provider has launched its payout product to make vendor and salary payments easier and faster.
Small businesses and startups often find it challenging to deal with and negotiate with the corporate banking division of larger banks for a variety of reasons. Much of the experience is non-singular and businesses do not get the same experience when dealing with their current accounts, making payments, or even accessing their corporate cards.
In short, retail banking has been modernised, but corporate banking products still have a ‘legacy’ feel. To address this challenge, Karbon Card, which counts Y Combinator, Ramp, and Olive Tree Capital as its major investors, has introduced a payout product.
The new payout product includes some features such as a simple maker checker, Bulk payouts, enhanced notifications, a painless and modern UX, and an option to send payment links (to beneficiaries).
Bengaluru-based Karbon Card was founded in 2019 by Kartik Jain, Pei-fu Hsieh, Amit Jangir, and Sunil Kumar, It is a corporate payments platform and an upcoming Neobank for small businesses, corporates, and startups. In addition, it provides Visa-issued corporate cards (both virtual and physical) and empowers the finance team to easily control and track the expenses of the entire company.
“Our Payout feature is a simple and one-stop solution for all kinds of banking and payment needs. It is everything that a bank offers and a lot more”, said, Kartik Jain, Co-Founder, of Karbon Card.
The finance team can access all its card and vendor payments on a single platform, the company said in a statement. Many customers of the company have started using Pay to make important payments like monthly salary disbursement.
The startup is also offering best-in-class 12 percent off on AWS, India’s largest cloud service provider. Many customers (especially startups) are excited to take advantage of this bounty due to the monthly savings.