How they describe themselves: SWITCH is an innovative Seattle-based fintech startup founded to target the daily annoyances of web life, automating many common, tedious tasks to keep our ever-changing digital world up to date. SWITCH is led by a team of entrepreneurs and Internet pioneers leveraging patent-pending machine learning solutions to gain valuable insight into card usage, benefiting card issuers, merchants, and consumers alike.
How they describe their product/innovation: SWITCH is developing the first credit card updater for online accounts: we help users keep their cards and other payment methods up to date while providing greater visibility into usage for card issuers. When a card replacement event occurs, people can quickly and easily update their payment methods wherever they purchase online, as well as on websites that use recurring payments (such as utilities, subscriptions, streaming services, and more). Our app also lets card issuers get new or replacement cards into circulation faster, and helps merchants ensure that customers’ card-on-file information stays up to date.
Product distribution strategy: Direct to Consumer (B2C), Direct to Business (B2B), through financial institutions, through other fintech companies and platforms