Sunlight provides an API that allows businesses to easily update their card-on-file for recurring transactions across multiple vendors, facilitating rapid migration of spending to their corporate cards. This solution enhances customer lifetime value and increases interchange revenue by streamlining the payment method transition process directly from a centralized dashboard.
Funding
Funding not disclosed
Founders
Product
Problem
Businesses face challenges in efficiently updating card-on-file information for recurring transactions across multiple vendors. This friction hinders the adoption of new corporate cards and limits the potential for increased interchange revenue.
Solution
Sunlight provides an API that enables businesses to streamline the process of updating card-on-file information across various vendors, directly from a centralized dashboard. This allows customers to easily switch their recurring transactions to a preferred card, accelerating the migration of spending and boosting card usage. By simplifying the payment method transition, Sunlight enhances customer lifetime value and increases interchange revenue for financial institutions and fintechs. The platform prioritizes security and privacy, adhering to high standards for data protection.
Target Audience
Sunlight's primary customers are fintech companies and financial institutions looking to increase commercial card volume and enhance customer lifetime value.
Features
- Centralized dashboard for managing and updating card-on-file information across multiple vendors.
- API integration for seamless implementation within existing business systems.
- Rapid spend migration capabilities, enabling quick transfer of recurring transactions to new cards.
- Secure and privacy-focused platform compliant with industry security standards.