FinTech news in unit category

Customers can offer their customers a charge card, credit card, revolving loan or any other credit products that Unit’s bank partners offer. Charge cards, which are more popular than credit cards for small businesses, give Unit a way to enable customers to build and offer lending products, even though the startup is not a lender itself. Unit claims that a card swipe transaction will yield 0.5% more interchange revenue when done with a credit card compared to a debit card. The company gives companies a way to embed financial services into their product — and after already launching debit cards, Unit is officially breaking into the charge card game.

In other words, Unit touts that companies using its technology in a variety of industries — such as freelance or creator economy and personal financial management, for example — can build financial products directly into their software.