Tillful Ties with Highnote and Mastercard to Launch Tillful Card, Helping SMEs Access and Build Business Credit Faster

Tillful, the leading business credit platform for small and medium-sized businesses (SMBs), yesterday announced it is working with Highnote and Mastercard to introduce the Tillful Card, a new, first-of-its-kind business credit card purpose-built for SMB owners to help increase their access to credit and growth capital.

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Tillful is the flagship product of Flowcast, the leader in AI credit risk models backed by ING Ventures. Tillful gives Main Street SMBs access to a new kind of business credit score–using real time, alternative transaction data–along with previously unavailable credit-building tools and services, including now the Tillful Card.

Launching in early 2022, the Tillful Card aims to help new and emerging businesses as well as underrepresented owners of small businesses. This historically "credit invisible" segment of SMB borrowers tends to face more challenges to stay in business due to lack of credit history, which decreases their access to credit from lenders. The Tillful Card enables SMB owners to maintain and grow their businesses in several ways:

• Cardholders can immediately begin making business purchases online, in-app and at the point of sale using their virtual card

• Payment history is reported to credit bureaus to help build business credit quicker

• Includes a rewards program tailored to SMB owners

• Business owners can create an unlimited number of virtual cards for their employees as well as to make vendor payments, at no cost

• Option for monthly payments compared to fixed daily or weekly payments

• ​No minimum bank balance requirements for approval

Highnote will be providing the card issuance infrastructure and program management capabilities as well as supporting embedded banking and payment services, and the Tillful Card features Mastercard as the exclusive card network. Tillful teamed up with Highnote and Mastercard because of their deep industry experience in payments and financial services and their commitment to advancing the SMB segment, in addition to increasing equitable and sustainable financial inclusion.

(Source: Yahoo Finance)