Lithic provides a card issuing platform that enables businesses to programmatically generate virtual and physical cards through a flexible API, allowing for customizable transaction controls and integration with various banking partners. This technology addresses the need for rapid card issuance and management, reducing dependencies on third-party services while enhancing scalability and developer experience.
Funding
$60M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many businesses face challenges with traditional card issuing processes, which can be slow, inflexible, and reliant on third-party dependencies. This can hinder innovation, limit control over transaction parameters, and create scalability bottlenecks.
Solution
Lithic offers a card issuing platform that enables businesses to programmatically create and manage virtual and physical cards through a comprehensive API. This allows for customizable transaction controls, real-time authorization decisioning, and seamless integration with existing banking partners. Lithic's direct network integrations with Visa and Mastercard, coupled with its native core system, reduce reliance on third parties, improve developer experience, and provide better economics. The platform supports a full stack approach, allowing businesses to manage their own programs or leverage Lithic's managed offerings as they scale.
Target Audience
Lithic primarily serves businesses that require flexible and scalable card issuing solutions, including fintech companies, SaaS platforms, and enterprises looking to embed financial products into their offerings.
Features
- Programmatic virtual card issuance via API calls
- Customizable physical card issuance with partner support for printing, shipping, and handling
- Digital wallet integration with in-app push provisioning
- ACH and money movement capabilities with routable virtual bank accounts
- Disputes API for streamlined workflow and chargeback credits
- Real-time authorization decisioning based on rich transaction data
- Detailed settlement and interchange reporting via API
- Flexible KYC and KYB modules or integration with existing setups
- Fraud protection with transaction-level risk scores and 3DS
- Dynamic spend controls at transaction, cardholder, and account levels
- PCI-compliant iFrame solution for secure customer data handling
- Scalable virtual accounts for embedding accounts directly into products
- Full-featured sandbox environment for testing and development
- OpenAPI specification, SDKs, and rich documentation
- Webhooks and events for real-time notifications