Michael Spelfogel’s Post

Should every B2B company have their own credit card? Well... Marketplaces like Airbnb and Etsy may want to take a page out of the Alibaba playbook and become more than just platforms. What does that look like? 🧠 They have the potential to become financial powerhouses by offering co-branded credit cards to their SMBs with tailored financial solutions to manage cash flow, earn rewards, and grow their businesses. 📈 💡 Curious what that looks like? 💡 I just wrote a blog post on why every marketplace should consider offering a co-branded credit card. 💳 #Fintech #Marketplaces #SMB #CustomerLoyalty #Cardless

🚀 Cardless is growing! 🚀   We're excited to finally formally welcome Joe Wold and Ailien Phan, CRCM, CAMS to the Cardless leadership team! With their combined decades of experience in the financial services and fintech industries, these key hires mark a significant step forward for Cardless as we continue our expansion.   Joe, formerly Head of Credit Cards at Wells Fargo, brings unmatched expertise in credit card partnerships and business development. As our new Head of Partnerships, Joe will be instrumental in forging new collaborations and enhancing our product offerings, especially as we expand into the small business sector. 💳   Ailien, who led consumer credit and payments initiatives at Robinhood, joins us as Chief Compliance Officer. Her leadership will be critical in ensuring that Cardless not only meets but exceeds the regulatory standards as we grow. 💹   Their experience will be pivotal as we expand into SMB co-branded credit cards, following our recent launch of the Alibaba.com Business Edge Credit Card. 💳   Welcome Joe and Ailien!   #Leadership #Fintech #SmallBusiness #CreditCards #Cardless

How can marketplaces like Alibaba, Etsy, and Airbnb add value with their own co-branded credit card? Marketplaces must differentiate and add user value. Co-branded credit cards have emerged as a powerful strategy, particularly for small and medium-sized businesses (SMBs). These cards offer tailored benefits, enhance customer loyalty, and drive growth. 💳 𝗔𝗹𝗶𝗯𝗮𝗯𝗮.𝗰𝗼𝗺 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗘𝗱𝗴𝗲 𝗖𝗿𝗲𝗱𝗶𝘁 𝗖𝗮𝗿𝗱 The partnership between Alibaba.com, Mastercard, and Cardless exemplifies this. Designed for SMBs, the card helps manage cash flow, offers rewards, and supports business growth. This co-branded card showcases the profound strategic value for marketplaces. 𝗘𝘃𝗼𝗹𝘂𝘁𝗶𝗼𝗻 𝗮𝗻𝗱 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀 Co-branded cards aren't new. Retail and travel industries have used them to foster loyalty and engagement. Airlines, for example, use credit cards to keep customers within their ecosystem. The digital marketplace space is following suit. ✈️ For marketplaces like Alibaba.com, Airbnb, and Etsy, these cards offer rewards that match user behaviors and financial needs, creating a valuable experience similar to airline loyalty programs. 𝗦𝘁𝗿𝗮𝘁𝗲𝗴𝗶𝗰 𝗕𝗲𝗻𝗲𝗳𝗶𝘁𝘀 1. **Customer Retention**: Rewards tied to the platform encourage repeat usage and deeper relationships. 🔄 2. **User Experience**: Cards offering financial flexibility and protections make marketplaces more attractive. 👫 3. **Revenue Streams**: Revenue-sharing agreements with financial institutions bring additional income. 💵 𝗖𝗮𝘀𝗲 𝗦𝘁𝘂𝗱𝘆: 𝗔𝗹𝗶𝗯𝗮𝗯𝗮.𝗰𝗼𝗺 𝗕𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗘𝗱𝗴𝗲 𝗖𝗿𝗲𝗱𝗶𝘁 𝗖𝗮𝗿𝗱 Alibaba’s card addresses SMB needs with rewards like cashback and extended payment terms. This strengthens customer loyalty and boosts Alibaba’s reputation as a supportive platform for SMBs. For other marketplaces, Alibaba's case offers insights into the potential of co-branded cards. Collaborations with financial institutions can drive customer retention, increase engagement, and grow business. 𝗧𝗮𝗸𝗲𝗮𝘄𝗮𝘆: As the digital landscape evolves, more marketplaces will explore these opportunities. At Cardless, we are excited to lead in providing financial solutions that empower SMBs and help marketplaces thrive. 🚀 #Cardless #Fintech #Loyalty #Alibaba #CustomerExperience

Remember Marcus, the fintech company created by Goldman Sachs? Well, things aren't going well, and I know why... I shared the story below, but let me sum it up for you and give you some insights. ⏰TL;DR Goldman Sachs has struggled for years in the consumer facing fintech and credit card space and is unwinding its consumer-lending businesses. ⏰ 𝙏𝙝𝙚 𝙡𝙚𝙨𝙨𝙤𝙣 𝙡𝙚𝙖𝙧𝙣𝙚𝙙? Even a revered institution like Goldman Sachs, with all its resources and expertise, couldn't crack the consumer-facing credit card space, even with their partnerships through Marcus with Apple and GM. 🏦 𝙒𝙝𝙮 𝙩𝙝𝙞𝙨 𝙢𝙖𝙩𝙩𝙚𝙧𝙨? This situation underscores a critical strategic insight—building a successful credit card program is incredibly complex and requires a specialized focus that not every financial institution possesses. It's a reminder that even the most well-established banks can stumble when they venture into areas outside their core competencies. 💳 𝘽𝙧𝙖𝙣𝙙𝙨 𝙘𝙤𝙣𝙨𝙞𝙙𝙚𝙧𝙞𝙣𝙜 𝙩𝙝𝙚 𝙡𝙖𝙪𝙣𝙘𝙝 𝙤𝙛 𝙖 𝙘𝙧𝙚𝙙𝙞𝙩 𝙘𝙖𝙧𝙙? The takeaway is clear: avoid trying to go it alone, because even when partnering with big-name banks, the intricacies of the credit card industry demand a level of expertise that few institutions have mastered. 🧑🤝🧑 𝙏𝙝𝙚𝙧𝙚 𝙞𝙨 𝙖𝙣 𝙚𝙖𝙨𝙞𝙚𝙧 𝙬𝙖𝙮! At Cardless, we live, breathe, and think credit cards, and our focus as a Fintech leader enables us to navigate these complexities effectively. And we move quick to get our customers the credit card that matches their needs. Full story: https://lnkd.in/g9_5dKKQ #Fintech #CreditCards #GoldmanSachs #Loyalty #Cardless

💳 Co-branded credit cards are more than just financial tools—they’re strategic assets that can transform digital marketplaces. 🛒 Our latest partnership with Alibaba.com highlights how co-branded credit cards can drive customer loyalty, increase platform engagement, and provide SMBs with the financial flexibility they need to thrive. 🌐 If you run a small business, this post is for you! And of course, I'd love to get your thoughts below. #Marketplaces #Fintech #CustomerLoyalty #SMB #Cardless

What a week! And a first for Cardless! We unveiled the new Alibaba.com Business Edge Credit Card, a credit card partnership with Alibaba Group and Mastercard. It is the first small business credit card from Cardless. Launching this at the CoCreate conference in Vegas, Cardless is helping the way small businesses utilize credit cards to unlock their full financial potential. The details are linked in the comment section, if you want to learn more about the Alibaba.com Business Edge Credit Card and what Offer Terms apply. #Cardless #CreditCards #cobrand #Fintech #sme #smb

I’m beyond excited to unveil the new Alibaba.com Business Edge Credit Card, a credit card partnership with Alibaba Group and Mastercard.   This isn’t just any credit card–it’s the first small business credit card from Cardless   Launching this at the CoCreate conference in Vegas, Cardless is helping the way small businesses utilize Fintech to unlock their full potential.   Huge thanks to Alibaba and Mastercard for their incredible collaboration. Together, we’re shaping the future of business finance. For more details on the Alibaba.com Business Edge Credit Card and what Offer Terms apply, visit https://lnkd.in/gftuHwji.    #Cardless #CreditCards #cobrand #Fintech #sme #smb

Hiring more for our data team! As a former Lyft and Rent The Runway data scientist, I can say that it's one of the most impactful fields for any company, especially where we are on the journey like at Cardless. Please DM if you're interested or know someone who is a good fit!