Karbon Card launches Payout product for startups, SMBs

Karbon Card, corporate card provider and an emerging neobank for the new-age startups and SMBs, has announced the launch of its payout product to make vendor and salary payments easier and faster.

Small businesses and startups often find it challenging to deal and interact with large banks’ corporate banking division for various reasons. The experience is mostly non-singular and the businesses don’t find a uniform experience while dealing with their current accounts, doing payout or even accessing their corporate cards.

In a nutshell, retail banking has been modernised but corporate banking products still have a ‘legacy’ feel to it. To solve this challenge, Karbon Card, that counts Y Combinator, Ramp and Olive Tree Capital as its major investors, has rolled out the Payout product.

Some of the features of the new Payout product include simple Maker Checker, Bulk Payout, Advanced Notification, a painless and modern UX and an option to send payment links (for beneficiaries). The finance team can access all their cards and vendor payments on a single platform. A lot of the company's customers have started using Payout to make even critical payments, such as monthly salary disbursal, it said in a statement.

Kartik Jain, Co-Founder, Karbon Card said, “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.”

Karbon is also offering a best-in-class 12 percent discount on AWS, the largest cloud service provider in India. Many customers (especially startups) are excited to avail this reward due to significant monthly savings.

Founded in 2019 in Bengaluru by Kartik Jain, Pei-fu Hsieh, Amit Jangir, and Sunil Kumar, Karbon is a corporate payment platform and an upcoming neobank for small businesses, corporates and startups. It provides Visa-issued corporate cards (both virtual and physical) and empowers the finance team to easily control and track expenses for the whole company.

Published on: Friday, April 08, 2022, 01:39 PM IST