Highnote

Founded by former PayPal veterans John Macllwaine and Kin Kee, Highnote is a white-label, cloud-based infrastructure platform for SMBs to issue and process payment and loyalty cards. The platform enables users to offer virtual, physical, and tokenized cards, and also create bank accounts to enable bank transfers and payments. Highnote’s platform runs on low-code APIs, making it more appropriate for SMBs that have smaller developer teams.  The company launched a consumer credit card program and card management services in October 2023, which allows users to collaborate with application decisioning, account aging simulation, customizing configurations, and credit-specific program management services.  

Highnote claims to offer greater flexibility than typical card-issuing platforms. It can reduce the time taken to launch the card to less than a month, from the standard 4–8 months, owing to its tech stack, embedded fraud detection, pre-integrated banking partners, and the fact that it functions as both the card issuer and processor.  

The Highnote infrastructure also lets the end-users monitor and manage their cards/finances better. It also provides issuing companies with card management controls such as turning the cards on and off and adjusting spending parameters. 

Key customers and partnerships

Highnote received a full certification as a Visa issuer processor in August 2022. Along with the certification, the company also joined Visa’s Fintech Fast Track program - designed to help FinTechs better integrate with Visa to deliver payment solutions - as an enabler in the US.

Funding and financials

The company came out of stealth in September 2021 and announced that it had raised USD 54 million in seed and Series A funding combined. The funds were to be invested in growing its product and engineering teams, broadening its platform to include instant credit issuance and full-stack acquiring, and in global expansion.