UPDATE – Bump partners with Mastercard and Highnote to launch ‘Bump Creator Card’, helping… | New


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SAN FRANCISCO, Nov. 21, 2022 (GLOBE NEWSWIRE) — To bumpan all-in-one financial services platform with tools that help creators better track and manage their money, today announced that it is working with High scorea modern fully cloud-based card issuance and program management platform, and Mastercard to introduce the Bump Creator Card. The Bump Creator card, in partnership with Highnote and powered exclusively by the Mastercard network, removes the financial barriers that millions of independent creators – musicians, content creators, influencers, etc. – face and gives them the resources they need to build successful businesses and brands.

The global creator economy has grown significantly in recent years and would include approximately 200 million creators. This rapid growth has revealed the need for creators to use a solution like Bump to gain access to bespoke financial services that can support, monitor, and track the money they earn from assets like royalties and publication rights, as well as discovering all sources of income. so creators know exactly how much money they’re making. With so many ways to earn income outside of traditional W2, creators need a new way to access credit and financial tools that can help them grow their businesses.

“Creators’ finances are often misunderstood, and as a result, they can’t access the same financial tools as salaried professionals or other small and medium-sized businesses, said James Jones Jr., co-founder and CEO of Bump. “Bump uses its proprietary revenue discovery technology to find all sources of creator revenue and to predict a creator’s future revenue. We do this for the benefit of creators so they don’t have to worry about losing ownership of their royalties, catalog, master recordings, or publishing rights. Highnote’s industry-leading issuer-processor capabilities, coupled with Mastercard’s commitment to supporting startups with innovative and differentiated payment technology, leave Bump well positioned to evolve and grow for mutually beneficial long-term success. .

The Bump Creator Card offers creators the following benefits:

  • No Monthly Fees: With the Bump Creator Card, creators are only responsible for paying their outstanding balance, one-time initial setup fee, and nominal annual fee.
  • No Credit Checks: Creators don’t need to show their credit score to get a Bump Creator card.
  • Consideration of Web3 Assets: When determining credit limits for creators receiving the Bump Creator Card, Bump accounts for non-traditional financial assets, including Web3 assets such as cryptocurrencies and NFTs.
  • Advanced security features: the Bump Creator card is contactless and features Mastercard™ Identity Theft Protection and Zero Liability Protection to detect fraud and protect cardholders from unauthorized transactions

Bump worked with Highnote to provide the card issuance infrastructure and program management capabilities that allow Bump to create a differentiated and personalized card solution for the creator economy. With Highnote’s all-in-one platform making it easy to manage the hardest parts of card issuance, Bump can better focus on providing creators with the best solutions to grow their business.

“This key partnership amplifies Highnote’s commitment to creating innovative payment solutions tailored to an underserved emerging community, the creator economy,” said John Macllwaine, co-founder and CEO of Highnote. “The Bump Creator Card demonstrates Highnote’s best-in-class commercial credit card issuance capabilities, which include features such as wallet tokenization, credit limit setting, billing cycle tracking, and scheduled refunds. We are the partner of choice for innovative digital companies who want to integrate financial services into their digital product roadmap to drive value, financial access and engagement for their users.

The launch of the Bump Creator Card marks an expanded relationship between Bump and Mastercard. In 2021, Bump joined Mastercard’s Start Path program dedicated to supporting traditionally underrepresented fintech founders as part of the company’s In Solidarity commitment of $500 million in products, services, technology and financial support to help close the racial wealth gap and of opportunities. The program offers stage-appropriate support, including mentoring and coaching, as well as curated business and investor presentations.

As an exclusive network, Mastercard will work closely with Bump to provide differentiated payment technology to support the creator economy.

“Creators harness the power and potential of digital and influence the world around us. Therefore, they need smarter and more efficient payment products and solutions to help them manage and navigate their often complex financial lives,” said Sherri Haymond, Executive Vice President, Digital Partnerships at Mastercard. “Bump’s focus on this burgeoning segment is critical as we continue to build and elevate the digital economy, and we’re proud to expand our work to deliver a game-changing product for creators young and old. “

To learn more about the Bump Platform or join the waitlist for early access to the Bump Creator Card, visit usebump.com.

To learn more about Highnote, visit highnote.com.

About the bump

Bump is a leading fintech platform for income tracking, expense monitoring, crypto and NFT management, and access to credit for creators and their businesses worldwide. Bump’s mission is to solve the problems of lost revenue, lack of credit options and easy-to-use business growth tools, and unpredictability of income for creators by removing financial barriers so that creators can share their genius with the world, without interruption. .

Based in Los Angeles, CA, Bump has advisors and has partnered with the world’s top investors and companies such as Snap, Mastercard, Silicon Valley Bank, Sixty8 Capital, Plug and Play Ventures and others. For more information see https://www.usebump.com.

About Highnote

Highnote is the world’s most modern card issuer-processor and program manager, purpose-built to retain and engage customers through integrated card experiences. Its fully integrated technology stack provides all the services necessary for innovative companies to launch new ways to use card payments. Using the developer-friendly Highnote platform, product and engineering teams at digital businesses of all sizes can easily and efficiently integrate virtual and physical payment cards (commercial and consumer prepaid, debit, credit and charge ), ledger and portfolio capabilities into their existing product capabilities, creating compelling value for users while increasing revenue and creating a unique and differentiated brand. The company has raised over $100 million from leading investors and strategic partners and is headquartered in San Francisco, California. For more information, please visit www.highnote.com.

Highnote Issue Statement:

The card is issued by a partner bank, member FDIC, under a license from Mastercard International.

Mastercard and the circle design are registered trademarks of Mastercard International Incorporated.

Media contact: Jillian Smith, [email protected]

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