KAPED has approached the credit card industry from a unique angle. Many credit cards are associated with a particular bank, but KAPED is its own financial technology operation. KAPED provides corporate credit cards, credit-as-a-service, and credit-as-an asset products to small and midsize businesses looking to access the same benefits of Fortune 500 companies.
The financial and credit card services developed by KAPED are strategically designed to help entrepreneurs by solving a number of credit card bottlenecks smaller operations typically encounter.
KAPED is an accredited business with the BBB, FCRA compliant, and PCI Certified. The merchant services provided by KAPED Pay are a registered ISO of several large banks, including Wells Fargo, BMO Harris Bank, Citizens Bank, and the Bancorp Bank.
KAPED offers three different credit card products to its clients including: corporate credit cards, credit-as-a-service,and credit-as-an-asset. KAPED claims that its credit-as-an-asset service is a proprietary offering. Each KAPED credit card product breaks down as follows:
While the credit card products available through KAPED are not necessarily revolutionary, who and what type of businesses these products serve are unique. These services are typically reserved for large-scale operations, but KAPED provides these products to small and midsize ventures.
Business credit cards available through KAPED particularly benefit traveling entrepreneurs. Businesses that require extensive travel will likely find a solution through KAPED. Business credit card features include:
Additionally, KAPED clients can access instant card issuance for either employee or single use circumstances. Scalable limits are also available.
KAPED is its own entity but is backed by larger financial institutions. As a self-funded financial technology company, the company has partnered with The Bancorp Bank, Mbanq., Evolve, Visa, and Mimosa. These partnerships allow for additional backing and support that not all smaller credit card agencies can utilize.
One of the most unique features of KAPED business credit cards is the intelligent credit limit service. This allows for credit cards to experience limit increases in a natural way. KAPED claims that its intelligent credit limits scalability utilizes the “smartest, most powerful AI in a credit card.”
Using the KAPED advanced payments engine, each client’s credit card limit scales based on the business’s spending habits. With KAPED, clients will never need to manually request and have limits approved. Not many credit card providers offer “smart credit card limit scaling” like KAPED does.
A key complaint of many business credit card clients surrounds the late payment policies. Typically, credit card companies will offer a late payment grace period, allowing the client to pay their bill without additional penalty. Once this period is up, a late payment fee is generally assessed. This late payment information plays a contributing role in what business credit card clients decide to use.
KAPED has not made any late payment information public for prospective clients looking into the service. This makes it difficult to know what to expect during those months where the business finances are tight.
KAPED's enterprise serviceprovides clients with premium customer support each with an appointed and individual account executive. This executive is always available to communicate in whatever way the client sees fit. However, only business operations that rack up over $1 million in annual credit card spend are eligible for this service.
While it is not uncommon within the credit card industry to reward companies that spend more on their business credit card, it is odd for a service designed for small and midsize businesses to reserve a special service with a high spending limit.