Announcing Commercial Revolving Credit

December 6, 2024

We're excited to announce the launch of Lithic Commercial Revolving Credit, our next evolution in commercial card issuing. This new product enables companies to offer their business customers full-featured, compliant credit card programs without developing extensive in-house systems. Unlike commercial charge cards that require full payment each cycle, revolving credit allows cardholders to carry balances forward, generating revenue for card programs through interest and fees. Built on Lithic's modern ledger technology, this powerful functionality gives card programs unprecedented flexibility in crafting their commercial credit offerings.

Why Lithic for Commercial Revolving Credit?

Managing a commercial credit card program is complex. Until now, businesses looking to launch revolving credit products had limited options – either work with legacy processors with outdated technology stacks or piece together partial solutions that don't offer the full range of necessary APR category types and repayment capabilities.

Lithic Commercial Revolving Credit changes this landscape by providing a purpose-built credit ledger solution that handles everything from different APRs to complex payment scenarios. Whether you're launching a new program or looking to upgrade existing offerings, Lithic's infrastructure lets you configure sophisticated and compliant credit products.

Key Features of Commercial Revolving Credit

With Lithic Commercial Revolving Credit, businesses can:

• Configure Multiple APR Types: Define different interest rates for purchases, penalties, cash advances, balance transfers, and promotional offers. This granular control means programs can tailor rates based on transaction type to better manage risk and create differentiated customer experiences.
• Customize Billing and Payment: Choose between fixed calendar or rolling billing cycles, offer payment options beyond minimum payment, and configure post-billing grace periods that work for your business.
• Implement Sophisticated Controls: Set business-level credit limits and complement these with individual cardholder spend limits and multi-layered authorization logic through our Next-Gen Authorization Rules or Authorization Stream Access. Rely on automated delinquency management with configurable charge-offs.

Processor or Program Manager: Your Choice

Lithic understands that different businesses have different needs. That's why we offer flexibility in how you implement Commercial Revolving Credit. For businesses seeking a turnkey solution, we can help set up a fully managed program where Lithic handles all key relationships and operations. For those wanting more control, we can support you purely as a processor, provisioning our purpose-built revolving credit ledger technology while you manage your own bank relationships and program operations.

This flexibility, combined with our API-first design and real-time ledger capabilities, means you can launch and scale your commercial credit program efficiently while maintaining the level of control that makes sense for your business.

Ready to learn more about how Lithic Commercial Revolving Credit can transform your commercial card program? Contact us to discover how our modern credit infrastructure can support your business needs.