"Most people are used to paying for something with one form of payment, be it one card or BNPL alternatives. There’s a significant cost burden, risk, and little to no personalization when you’re forced to put an entire payment onto one card, especially when that card is frequently used for multiple purchases," said Sam Miller, co-founder and CEO of Kasheesh. "Kasheesh leverages existing spending power, not added debt. We maximize rewards versus maxing out cards."
Since its closed launch, Kasheesh has brokered over $11 million in user transactions and purchases. Kasheesh doesn’t underwrite loans and instead consolidates spending power to help their users avoid maxing out their cards. Since Kasheesh is not a financial institution or a loan provider, usage isn’t contingent upon providing credit scores or users worrying about their financial information being used for marketing purposes elsewhere. The Kasheesh platform takes what each customer already has available (via their credit and debit card limits) to be able to spread the burden of payment without needing to add more debt to their payment.
Show Me the Money
Kasheesh auto-generates a unique banking "card" number pulled from debit and credit cards of a user’s choosing in order to split the cost of online purchases. Its many benefits include:
- One portal for all your cards: Users can download the browser extension and utilize it the same way payments and reward-based shopping platforms are used. Once installed, users can upload the details of their debit and credit cards of choosing, up to 10 cards.
- The combination of cards YOU choose: Kasheesh allows users to upload any combination of up to 10 cards of debit, credit and gift cards and its proprietary AI helps suggest the best combination of cards to use per purchase.
- Security: Kasheesh has partnered with Stripe and Plaid to verify each user’s proof of identity and funds for security purposes. All customer information stays confidential in this process.
- Unique, encrypted digital number per purchase: In the age of digital credit card theft, Kasheesh maximizes shopping privacy by auto-generating a new and unique card number that is fully encrypted and untraceable per purchase so the user’s financial information stays secure. Funds are securely pulled from the debit or credit card (or a combination of) that shoppers want to use for payment.
- Smart reward utilization: Kasheesh’s AI will automatically select from uploaded cards for payment that offer the best rewards based on the purchase. The generated card details are unique per purchase and work across any online ecommerce platform that accepts Mastercard.
- Identity confirmation on YOUR name, not a bank’s: We look at every user as the same. We base our identity confirmation on SSN and not KYC regulation (since we aren’t a bank), meaning if a person has gotten married or if a transgender person wants uses their chosen name, there aren’t issues with dead-naming or having to change each subsequent card.
"There are no online payment platforms that allow U.S. shoppers to split their payments, no less ones that allow consumers to avoid incurring further debt," said Sahil Bloom, Managing Partner of SRB Ventures. "I appreciated the way that Kasheesh unlocks consumers to pay for things using the credit they already have in the most efficient manner, and the future opportunity to allow consumers to optimize their spend across various rewards points and perks."
Kasheesh is currently only available in the U.S. For more information and to sign up, please visit https://www.kasheesh.co/ and follow us on social media: Instagram: @kasheesh.pay, Twitter: @kasheeshpay and on LinkedIn.
Kasheesh represents a new era for payments. Kasheesh is a first-to-market digital payment platform that allows anyone to split payment for online purchases across multiple debit and credit cards in any way they want, for free. We believe any shopper regardless of income and credit score should be able to consolidate spending power across their spending cards in order to optimize rewards and build credit with real-time transactional intelligence. More importantly, we believe unlocking the full potential of debit and credit cards will help consumers everywhere make more responsible spending decisions powered by analytics.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220621005089/en/