New digital payment platform Kasheesh launches in US
A new digital payment platform, Kasheesh, has launched in the US allowing users to split payment of online purchases across combinations of debit and credit cards, without added costs or interest increases.
The Kasheesh platform takes into account what each customer already has available via credit and debit limits and spreads the payment of goods to avoid adding more debt.
Kasheesh’s browser extension allows US consumers to reduce the cost burden on individual cards, build their credit scores and increase financial privacy through the automated generation of encrypted card numbers to use for purchases.
Kasheesh has partnered with Stripe and Plaid to verify each user’s proof of identity and funds for security purposes with all customer information remaining confidential.
As part of its launch, Kasheesh has also raised $5.5 million from a number of investors, including Tribe Capital, Anthemis, Courtside Ventures and individuals from the worlds of sport and entertainment.
Kasheesh CEO and co-founder Sam Miller says: “There’s a significant cost burden, risk and little to no personalisation when you’re forced to put an entire payment onto one card, especially when that card is frequently used for multiple purchases.
“Kasheesh leverages existing spending power, not added debt.”
Since its closed launch, Kasheesh has brokered more than $11 million in user transactions and purchases.