Virtual cards | Kevin Kang, Reap | DigFin VOX Ep. 50

Kevin Kang, co-founder of payments fintech Reap, discusses the trends behind virtual cards for SME and enterprise users.

This is a segment of the fintech segment industry that brings credit-card like features to businesses using credit to manage working capital and cash needs. How big is it, and how disruptive?

Kevin discusses with Jame DiBiasio the market’s trajectory post Covid, compares it to traditional card and transaction banking businesses, and Reap’s funding situation.

• Timecodes:
• 0:00 – Kevin Kang, Reap
• 1:55 – Fintech business after Covid
• 5:15 – What’s a virtual card, pricing, fees, economics, comparison with traditional card business
• 9:49 – Reap’s B2B business segments, pain points for enterprises
• 12:41 – Data
• 13:33 – The virtual cards industry and growth areas
• 16:10 – Disrupting traditional finance
• 17:45 – Looking beyond B2B
• 20:38 – Card cash management versus transaction banking
• 22:28 – Web3 users, pain points, crypto fallout
• 26:24 – Role of AI
• 27:14 – Reap’s funding, VC milestones, valuation, exit
• 30:34 – Growth versus profitability