Fintech Archa to launch new neo business credit card

By Polly Fleeting ·
young businessman using Archa neo business credit card

Ever heard of a neo business credit card? 

Say hello to Melbourne-based fintech Archa.  

This week, Archa announced that it has become a principal issuing member of Mastercard, meaning it can access the card providers leading global payment network. 

The partnership will allow the fintech to launch its new neo business credit card along with an app with innovative tools to help businesses manage their expenses.  

“This is a really important strategic milestone for Archa. We’re thrilled to have the support of Mastercard as a critical foundation to our business model,” Archa’s chief executive, Oliver Kidd said. 

“We look forward to working closely with Mastercard over the coming years to support small businesses throughout the region.”

How will Archa work?

Previously launched as a personal prepaid debit card and app combo, Archa has pivoted to focus on small business. 

The fintech says that given the nature of the current COVID-19 environment and lockdowns, the launch of this new card will help businesses who need it. 

Ultimately, the product is an innovative and cost-effective credit card payment system. Features include things like: 

  • A business credit card (both physical and digital) 
  • Ability to issue cards to employees via the app
  • Change card limits as needed via the app 
  • A range of expense management in-app tools (e.g the ability to scan receipts from your phone)   

“Mastercard is thrilled to welcome Archa to our global network of exciting fintechs,” said vice president of fintech, Mastercard Australasia, Kallan Hogan.  

“Archa’s business card offering closely aligns with our mission to support small businesses by providing them with business centric products and tools to support their growth through all economic cycles.”

Plus, once the cards are able to be issued, Archa will look to collaborate with other fintechs and bring joint propositions to small businesses across the country.  

Archa is currently testing with a select group of beta customers and will be launching the business credit card later in quarter two of 2021. 

RELATED ARTICLE: Post 2020 Budget: What financial support is my business eligible for?

After a business loan instead? Check out the options below or head to our business banking hub for more products.

Compare Business Loans - rates updated daily

Search promoted business loans below or do a full Mozo database search. Advertiser disclosure.

Refine the list of business loans

Let’s help find you a great business loan...
  • Featured Product
    placeholder

    About Zip Business Capital

    Line of Credit

    Zip Business Loans online application process can be completed in as little as five minutes, and once approved you can access the funds within 24 hours. A line of credit up to $500k that converts into a loan when you draw down. Participating lender in the SME government guarantee scheme.

    Interest Rate
    Upfront Fee
    Funding speed
    On Application
    2% to 3%
    Instantly, once approved
    Go to site
    Details
  • placeholder

    About Heritage Bank

    Fully Drawn Loan

    Heritage Banks Fully Drawn Business Loan is a good option for most business needs such as purchasing a property, buying a business or longer term working capital requirements. Participating lender in the SME government guarantee scheme.

    Interest Rate
    Upfront Fee
    Funding speed
    2.95% p.a. variable
    Negotiable
    Varies
    Go to site
    Details
  • placeholder

    About Bizcap

    Unsecured Business Loan

    Business Loans from $5,000 to $600,000 with high approval rates. Access to funds in as little as 3 hours. Cash flow friendly repayments and open minded offers.

    Interest Rate
    Upfront Fee
    Funding speed
    On Application
    3%, starting at $399
    from 3 hours
    Go to site
    Details
  • placeholder

    About ANZ

    ANZ Next Step Business Loan

    Enjoy a flexible business loan for up to $200,000. Apply in just 20 minutes online. Get fast conditional approval and get your funds in days. No assets required for approval. Apply now. Participating lender in the SME government guarantee scheme.

    Interest Rate
    Upfront Fee
    Funding speed
    from 4.24% p.a. variable
    No loan approval fee
    2 business days
    Go to site
    Details
  • placeholder

    About Octet

    Trade Finance

    Boost your purchasing power and access a flexible line of credit to pay suppliers in over 68 countries with Octet’s Trade Finance solution. Put your business in the driver’s seat with up to 120 day payment terms and up to 60 days interest free. We’ll custom-fit a Trade Finance facility based on your business needs from $200K to $7M.

    Interest Rate
    Upfront Fee
    Funding speed
    from 6% p.a.
    On Application
    2 days
    Go to site
    Details
  • placeholder

    About Timelio

    Invoice Finance

    Get your customer invoices paid early, without waiting up to 90 days for payment. Apply online in 10 minutes and select your local or overseas invoices to fund. Flexible funding with no lock-in contract.

    Interest Rate
    Upfront Fee
    Funding speed
    On Application
    $0.00
    24 hours
    Go to site
    Details

^See information about the Mozo Experts Choice Business Loans Awards

Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.