Kasheesh launches split online payments option on multiple credit and debit cards

By Edlyn Cardoza

Today

  • Credit scores
  • digital payment
  • FICO scores

Kasheesh, a digital payment platform, allows anyone to split payment for online purchases across multiple combinations of debit and credit cards as desired without additional fees or increased interest. As part of its launch, Kasheesh also announced that it has raised $5.5 million from institutional and celebrity investors including Tribe Capital, Anthemis, Courtside Ventures and notables including the Super winner wide receiver Bowl LVI Odell Beckham Jr, athlete-turned-investor Sahil Bloom and award-winning actor Robin Wright.

Consumer financing has not been personalized since the advent of e-commerce. Best value credit cards are often guarded by financial institutions who only want high value customers and those with high credit/FICO scores. Consumers with low FICO scores or limited purchasing power are often excluded and are hardest hit by negative restrictions (i.e. impact on credit score) on what they can buy and the rewards they get for using specific cards. Kasheesh believes consumers should have tailored financing options for their purchases rather than being forced to select a single source of available funds.

Kasheesh’s free web browser extension helps US-based consumers in three key areas of online spending: reducing the cost of individual cards per purchase, helping to build lasting credit scores and card rewards by using any combination of cards rather than just one and maximizing financial privacy through Kasheesh’s unique automatic generation of a new encrypted card number to be used per purchase.

“Most people are used to paying for something with just one payment method, whether it’s a card or BNPL alternatives. There’s a significant financial burden, risk, and little to no personalization when you’re forced to to put an entire payment on one card, especially when that card is frequently used for multiple purchases,” said Sam Miller, co-founder and CEO of Kasheesh. “Kasheesh leverages existing purchasing power, not additional debt. We are maximizing rewards rather than maximizing cards. »

Since its closed launch, Kasheesh has brokered over $11 million in transactions and user purchases. Kasheesh does not take out loans and instead consolidates purchasing power to help its users avoid maxing out their cards. Since Kasheesh is not a financial institution or loan provider, use is not contingent on providing credit scores or users who are concerned about their financial information being used for any purpose. marketing elsewhere. The Kasheesh platform uses what each customer already has available (through their credit and debit card limits) to spread the payment burden without having to add debt to their payment.

Kasheesh automatically generates a unique bank ‘card’ number extracted from the user’s chosen debit and credit cards to share the cost of online purchases. Its many benefits include:

  • A portal for all your cards: Users can download the browser extension and use it similarly to reward-based payment and shopping platforms. Once installed, users can upload the details of their debit and credit cards of their choice, up to 10 cards.
  • The combination of cards YOU choose: Kasheesh allows users to upload any combination of up to 10 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 remains confidential in this process.
  • Unique and encrypted digital number per purchase: In the age of digital credit card theft, Kasheesh maximizes purchase privacy by automatically generating a new, unique, fully encrypted, untraceable card number per purchase. As a result, user’s financial information remains secure and funds are securely withdrawn from the debit or credit card (or combination of) buyers wish to use for payment.
  • Clever use of rewards: Kasheesh’s AI will automatically select from the cards uploaded for payment which offers the best rewards based on purchase. Card details generated are unique per purchase and work on any online e-commerce platform that accepts Mastercard.
  • Identity confirmation in YOUR name, not that of a bank: They consider every user as the same. They base their identity confirmation on SSN and not KYC regulations (since they are not a bank), which means if someone is married or if a transgender person wants to use a name of their choice , there are no problems with the dead name or having to change each subsequent card.

“There are no online payment platforms that allow American shoppers to split their payments, any less than those that allow consumers to avoid incurring new debt,” said Sahil Bloom, Managing Partner of SRB Ventures. “I liked how Kasheesh allows consumers to pay for things using the credit they already have in the most efficient way, and the future opportunity to allow consumers to optimize their spending through various points of reward and benefits.”

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