Karbon Card, corporate card provider and a Neobank for the new-age startups and SMBs, launched its Payout product to make vendor and salary payments easier and faster.
It aims to provide a better experience as compared to current one where it 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, it said in a statement.
Backed by Y Combinator, Ramp and Olive Tree Capita, Karbon Card aims to modernise corporate banking products which still carry a legacy feel.
Kartik Jain, Cofounder, Karbon Card said, “Imagine a situation when the finance team has to manage corporate cards from five different banks along with several current accounts. It becomes a nightmare to manage vendor payments, reconciliation, manage leaks if any, every single day. 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.”
The new Payout product includes features like 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.
Karbon is also offering a best-in-class 12% 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, it said in a statement.