Karbon Card launches new Payout product for SMBs
By Leandra Monteiro
Karbon Card, India’s dominant corporate card provider and an emerging Neobank for the new-age start-ups and SMBs, has announced the launch of its Payout product to make vendor and salary payments easier and faster.
Small businesses and start-ups often find it challenging to deal and interact with large banks’ corporate banking divisions 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 them. To solve this challenge, Karbon Card, which counts Y Combinator, Ramp and Olive Tree Capital as its major investors, has rolled out the Payout product.
Some of the unique features of the new Payout product include a 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 our customers have started using Payout to make even critical payments, such as monthly salary disbursal.
Talking about the launch, 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.”
Karbon is also offering a 12% discount on AWS, the largest cloud service provider in India.
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