Binji, a California-based fintech startup, has introduced its new debit Mastercard that allows users to combine their all credit cards and debit cards into a single account. According to the company that reported, its digital display debit Mastercard works in tandem with its mobile app. The platform has the capability to consolidate more than 24 debit cards into a single card to use as funding sources for each Binji Account. It also empowers users to engage in peer-to-peer payments with immediate access to funds.
Ahead of this launch, Binji Co-Founder and CEO Ryan Marquis said that “We saw an opportunity to improve people’s lives by streamlining their finances through the convenience of offering app-based banking, card consolidation, and peer-to-peer payments on one platform. We’re offering consumers something that, until today, didn’t exist: With just a push of a button on the Binji Card’s user interface, consumers can now transfer funds from up to 24 different debit or credit cards into a single spending account.” The Binji card’s digital display screen shows the current balance of the Binji users’ account, the last four digits of the different funding sources and the four character nickname for fast recognition.
Users can choose their funding source by using the two-button interface to scroll through synced accounts. According to the report, users can purchase the company’s cards through the platform for $89. Founded in 2018, Binji is entering an increasingly crowded market with fintechs and traditional banks vying for dominance. The startup was designed with the mission to create banking solutions which make users lives easier by enabling them to take control of their financial well being.