New Milestone: $1B in Charge Card Transactional Volume

Last month, we announced our full stack commercial charge card—which we added to our suite of cards products alongside Prepaid and Debit. 

We're excited to announce that we've crossed and blown past $1 billion in annual charge card volume here at Lithic, with transaction volumes growing fast.

Our mission is to power the next wave of financial service products. More important than top line transaction volume, we’re proud to have helped enable customers to generate over $20M in annual interchange revenue in just a few short months.

Because customer-centricity is a core value for us as an infrastructure provider, we stake our reputation on the reliability and availability of our service along with the white-glove support and flexibility in our tooling—to enable our customers to grow their transaction volumes to the next levels of scale.

$1 billion in customer volume

We take great pride in partnering with the most innovative startups, fintech companies, and neobanks to build high quality card experiences.

We're thrilled to partner with Mercury on the launch of their IO credit card. They set out to build a card worthy of the Mercury brand—beautiful, simple and smooth to use, that could scale to tens of thousands of customers and beyond.

Since IO's launch last September, we've watched the card grow, with users sharing the unboxing experience on social media and turning heads in public using the metal, color-changing card.

Mercury counts interchange revenue among a diversified set of revenue streams—including revenue share with banks from interest on deposits, international wires and forex and interest on venture debt—that enables Mercury to be resilient to swings in the macroeconomic environment and run profitably.

With Parker, we partnered on their corporate card and expense management platform for ecommerce businesses with physical and virtual card workflows. They designed their card for net 60 to 90 payment terms, tailored to empower ecommerce brands with more working capital to pour back into growth. 

It's been inspiring to see Parker help brands like Obvi bootstrap from a $10K investment to $30 million in sales. Parker's extended payment terms enable brands to create a negative cash conversion cycle, which allows them to sell their product before they have to pay for it. 

Earlier this year, Parker announced that it had raised $157M in funding on the back of their strong product-market fit.

Customer centricity as a core value

As an infrastructure provider, we grow when our customers grow. Because we build mission-critical software, our customers are at the center of everything we do. 

That means that we put huge emphasis on:

• Rock solid infrastructure that's built to scale: We've been running our own issuer processor for 7 years at Privacy.com and now at Lithic, dependably processing billions of dollars in debit and credit card volume.
• White-glove service from payments experts: We have nearly a decade of first-hand card program experience and we take a consultative approach to sharing that knowledge. 
• Flexibility and modularity in our design: Customers can bring their own ledger, sponsor bank and more and compose our APIs to build something new. We plug in specifically where we add value. 

As customers scale, our modular approach enables customers to add new card products and layer on more forms of monetization, plus customers can add new bank partners, other vendors or bring core functions in house—all on Lithic.

Talk to us

If you want to build with cards, we want to hear from you. 

Read our documentation, get started in Sandbox and contact us to go live within days.