Setting the standard in payments, Highnote’s modern platform and robust program management now support consumer credit capabilities to transform the end-to-end credit experience
Highnote is proud to announce the expansion of our industry-leading debit, prepaid, and fleet issuing card platform to power consumer credit card products. Designed and developed by Highnote’s world-class payments veterans, the expanded platform offers a comprehensive range of credit capabilities – from technology that facilitates underwriting, repayment and loan servicing to full credit program management. With these API-enabled capabilities, fintechs, brands, and banks can now offer innovative and differentiated credit programs, strengthening their relationships with customers.
As consumer preferences have grown increasingly sophisticated, the market for credit services to support them has also increased in complexity and competitiveness. Credit products operate in a complicated regulatory landscape and often require unique financial and contractual structures. In addition, any modern credit offering also requires comprehensive benefits, including payment flexibility, purchase protection, credit score improvement, and highly personalized rewards. Against this backdrop, Highnote offers differentiated, tailored credit solutions that don’t require cobbling together a disparate array of third-party tools.
“Offering support for consumer credit programs has always been part of the Highnote strategy and represents a natural extension to our modern card platform,” says John MacIlwaine, CEO and co-founder of Highnote. “We’re stepping into a new era where credit is not just a service but a transformative experience – from underwriting to origination, issuance to financing and ultimately ongoing servicing. With consumer credit, we are setting the stage for a future where payments are smarter, more flexible, and more aligned with a brand’s overall experience than ever before. This is just the beginning of an exciting journey, and we’re thrilled to be pioneering how the world pays.”
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Highnote’s consumer credit platform provides a comprehensive set of capabilities needed to meet these increasingly sophisticated requirements. Built on the same modern architecture as the debit, prepaid and charge card products, the consumer credit product leverages the same core elements, including the advanced general ledger and developer-first APIs, and adds the critical functions of a holistic credit product. Customers using Highnote’s platform for consumer credit programs have configurable product terms, efficient repayment management, and a fee engine that all enable differentiation for a company’s target audience.
Key product capabilities include:
- Collaborative Application Decisioning: Highnote offers a framework for customers to integrate their credit decision-making into the application process. It provides full control and flexibility in modifying credit policies to make better underwriting decisions.
- Powerful Account Aging Simulation: Fintechs and brands can test different payment scenarios to simulate how a billing statement and account status are impacted over time. Additionally, customers can run simulations to calculate the interest and minimum payments for past-due accounts.
- Flexible Configuration: Customers have the ability to customize their credit program by setting distinct APRs for purchases, cash advances, and promotional financing and/or the credit risk of the individual applicant and in alignment with regulations.
- Advanced Credit Servicing and Management Technology: Highnote’s experienced team oversees the operational tasks of managing existing credit card accounts, such as recurring payment schedules, ACH repayments, and the sale and purchase of receivables, investor servicing support, while also working collaboratively with customers to facilitate the strategic planning and decision-making to optimize the entire credit card program.
- Credit-Specific Program Management: Highnote’s specialized teams provide guidance through the onboarding process, including credit-specific requirements.
Highnote is an embedded finance company setting the new standard in modern card platform management. Purpose-built to realize customer loyalty and engagement through embedded card experiences, Highnote’s fully integrated tech stack provides every service needed for innovative companies to launch new ways to use card payments. Utilizing the developer-friendly Highnote platform, product and engineering teams at enterprises of all sizes can easily and efficiently embed virtual and physical payment cards (commercial and consumer prepaid, debit, credit, and charge), ledger, and wallet capabilities into their existing products, creating compelling value for users while growing revenue and building a unique and differentiated brand. The company has raised more than $100 million from leading investors and strategic partners and is headquartered in San Francisco, California.
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