San Jose-based Stratos unveiled the Stratos Digital Card Issuance Platform. The platform will allow card issuers to instantly fulfill digital cards, analyze real-time cardholder behavior and increase loyalty and engagement.
The Stratos membership-based all-in-one digital card consolidates credit, debit, rewards, membership, gift cards and other payment cards into a single dynamic card. As consumers gravitate toward next-generation payments, they prefer “universal” payment cards with their familiar ease and convenience, broad acceptance and greater security to smartphones or wearable devices like a smart watch. After a successful March launch, Stratos began shipping in April.
The Stratos Digital Card Issuance Platform will:
• Provide the ability to collect and analyze aggregated, consolidated card behavior offering unprecedented visibility into customer card utilization patterns.
• Facilitate powerful “Top of Wallet” cardholder engagement and loyalty through push notifications, location-based recommendations, virtual issuance, and other features.
• Eliminate costly physical card fulfillment and reduce cost of customer acquisition and retention.
• Offer greater security than traditional, plastic cards.
Stratos offers its members free card upgrades, real-time location-based recommendations, patented security features and financial insights to ensure a superior customer experience. Merchants and issuers partnering with Stratos are able to strengthen loyalty and engagement with better data and improved communications to their customers without infrastructure change.
Stratos was founded by Thiago Olson, Chris Bartenstein and Henry Balanon and is based out of Ann Arbor, Michigan. The company is funded by Toba Capital Partners, Western Technology Investment, Resonant Venture Partners and Hyde Park Venture Partners.
For data, background and forecasts on Stratos: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).