PRAYAGRAJ, Aug 9: Business-to-business payments startup EnKash on Friday launched the country’s first corporate credit card called ‘Freedom Card’ for small and medium enterprises (SMEs).
The Freedom Card would give SMEs and startups the freedom to avail credit facility for immediate needs and to manage their liquidity.
“Currently, banks offer corporate credit cards and EnKash partners with most of them to enhance the experience. While we will continue enhancing our capabilities for these bank partnerships, we realised that specific products are required to address cases which are peculiar to underserved SMEs and startups as their requirements are different,” EnKash co-founder Naveen Bindal said.
Bindal added that these segments are not able to benefit fully with the existing solutions in the market, be it for enhancing their short-term credit requirements or convenience or just simply getting access to a commercial credit card.
EnKash has come up with a corporate card to cater to the varied billing cycles as per the working capital cycles of different businesses, which is a first in India, he said. (PTI)