Bump Teams Up with Mastercard and Highnote to Launch the 'Bump Creator Card,' Helping Creators Grow Their Businesses
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/be44f8f0-0d49-4072-8665-58db4bab48a3
SAN FRANCISCO, Nov. 16, 2022 (GLOBE NEWSWIRE) -- Bump, an all-in-one financial services platform with tools that help creators better track and manage their money, today announced it is working with Highnote, a fully cloud-native modern 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, eliminates financial barriers that millions of independent creators – musicians, content creators, influencers, and more – face and empowers them with the resources they need to build successful businesses and brands.
The global creator economy has greatly expanded over recent years and is believed to include approximately 200 million creators. This rapid growth has uncovered the need for creators to use a solution like Bump to receive access to tailored financial services that can support, monitor and track how much money they make from assets like royalties and publishing rights, as well as discover all sources of income so that creators have a true understanding of how much money they are making. With a multitude of ways to earn income outside of the traditional W2, creators need a new solution to access credit and financial tools that can help them expand their businesses.
“Creators’ finances are often misunderstood and as a result, they are unable to 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 income discovery technology to find all sources of income for creators and to predict a creator’s future income. We do this with creators’ best interest in mind so that they don’t need to worry about the loss of 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 through innovative and differentiated payments technology leaves Bump well-positioned to scale and grow for mutually beneficial long-term success.”
The Bump Creator Card provides creators with the following benefits:
Bump worked with Highnote to provide the card issuance infrastructure and program management capabilities that allow Bump to build a differentiated card solution that is customized for the creator economy. With Highnote’s all-in-one platform making the hardest parts of card issuance easy to manage, Bump can better focus on providing creators with the best solutions to grow their businesses.
“This keystone partnership amplifies Highnote’s commitment to building innovative payment solutions tailored to an under-served emerging community, the creator economy,” said John Macllwaine, Co-Founder and CEO at Highnote. “The Bump Creator Card demonstrates Highnote’s best-in-breed commercial credit card issuance capabilities that include features such as wallet tokenization, credit limit setting, billing cycle tracking, and scheduled repayments. We are the partner of choice for innovative digital enterprises that want to embed 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 a part of the company’s In Solidarity commitment of $500 million in products, services, technology and financial support to help close the racial wealth and opportunity gap. The program offers stage-relevant support, including mentorship and coaching, as well as curated commercial and investor introductions.
As the exclusive network, Mastercard will work closely with Bump to provide differentiated payments technology to support the creator economy.
“Creators are harnessing the power and potential of digital and influencing the world around us. As a result, they need smarter, more efficient payments 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 uplift the digital economy, and we’re proud to extend our work to deliver a game-changing product for creators small and large.”
To learn more about Bump’s platform or join the waitlist for early access to the Bump Creator Card, visit usebump.com.
To learn more about Highnote, visit highnote.com.
Headquartered in Los Angeles, CA, Bump has advisors from, and has partnered with the world’s best investors and companies such as Snap, Mastercard, Silicon Valley Bank, Sixty8 Capital, Plug and Play Ventures and others. For more information, check out https://www.usebump.com.
Highnote issuing statement:
Mastercard and the circles design are registered trademarks of Mastercard International Incorporated.
Media Contact: Jillian Smith, [email protected]
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