Mastercard and Stripe to Let Companies Design and Issue Their Own Cards

I’m an avid Postmates and DoorDash user – while I do love great food, I’m often short on time and these delivery services ensure that a delicious meal is just a few taps away. It’s great to get what you want, when you want without having to give it a thought. But sometimes I do give it a thought – How does the delivery person who is sometimes buying and delivering food from a local bodega and at other times from a gourmet restaurant pay or get paid? Do they carry a wad of cash with them or do they have a corporate card? How do they even receive the tip I gave them?

Now Stripe is making it easy and uncomplicated for businesses to move money in the real world as easily as they do online by partnering with Mastercard. With the Stripe Issuing, Stripe businesses and platform running on Stripe will be able to quickly issue Mastercard-powered employee expense cards with dynamic spending limits or  generate one-time-use virtual cards with specific amounts that a delivery person can then use to pay with their phone.  Though the benefits to on-demand businesses are apparent, this service will enable all businesses of all types to empower their employees, partners and users in new ways.

HOW IT WORKS

• Easy to implement with just a few lines of code using Stripe Issuing APIs
• Physical cards can feature customizable designs, and ship in a few days. Cards can be used instantly through mobile wallets.
• Enables businesses to assign spending controls. Businesses can also implement approved merchant categories, spending controls, per-user bookkeeping, and other restrictions.
• Simple to automate operational tasks, such as handling disputes, replacing cards, and generating custom reports.

Mastercard and Stripe also partner to provide instant payouts to sellers on Stripe marketplaces using Mastercard Send. This helps people and businesses to send and receive funds quickly and securely.

We live in a time when we don’t have time for anything and there are companies that help people like me catch a breath while waiting for packages to be delivered. I know I owe my seamless retail existence to them and it’s exciting to see Mastercard supporting businesses that save me hours’ worth of every-day tasks.

You can learn more about the program: stripe.com/issuing