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Expanding Access to Digital Payments: How Extend is Unlocking Innovation for SMBs
At Fintech Meetup 2025, Andrew Jamison, CEO & Co-Founder of Extend, shares how the company is reshaping the small business payments landscape by embedding virtual credit card solutions directly into banks and software platforms.
Lee Arthur
March 12, 2025 • Estimated Reading Time: 5 minutes
Bridging the Gap in Business Payments
The small and mid-sized business (SMB) sector has historically been underserved when it comes to digital payments. Large enterprises have access to robust financial tools, while consumers enjoy seamless, tech-driven experiences. But in between, a gap remains—one that Andrew Jamison, CEO & Co-Founder of Extend, set out to solve.
"We saw a missing link in the payments market—small businesses have stretched needs, but lack the financial resources and infrastructure of large enterprises," Jamison said at Fintech Meetup 2025.
Founded in 2017, Extend doesn’t issue its own credit cards. Instead, the company partners with banks to provide a modernized virtual card experience—helping SMBs better manage cash flow, control employee spending, and streamline reconciliation.
"Rather than compete with banks, we extend their capabilities—hence the name Extend," Jamison explained.
How Extend is Driving Merchant Adoption
With 10,000 customers and growing, Extend enables businesses to instantly generate virtual credit cards for specific transactions—whether for employee travel, contractor payments, or supplier purchases.
For example, construction firms use Extend to allow foremen to purchase materials without handling cash, while logistics companies issue single-use virtual cards to reconcile shipping expenses.
"We make credit cards work harder for businesses," Jamison said. "And the numbers prove it—our banking partners see a 25-40% increase in spend from businesses that use Extend."
This impact translates into $200M in interchange revenue for partner banks in 2025 alone.
Go-To-Market Strategy: Direct & Embedded Finance
Extend operates through two key channels:
1️⃣ Direct partnerships with major banks—providing them with white-labeled virtual card solutions.
2️⃣ Embedded finance integrations—partnering with platforms like SAP Concur to integrate Extend’s capabilities directly into expense management systems.
"We’ve streamlined virtual card issuance into a single API," Jamison said. "For software providers, this means adding embedded payments without the complexity of building a credit infrastructure from scratch."
Extend has also expanded its reach through partnerships with issuers working with thousands of financial institutions, allowing more banks and credit unions to embed its virtual card technology at scale.
2025 & Beyond: Entering the Expense Management Market
As Extend continues its rapid growth, the company is expanding beyond virtual cards to full-scale expense management solutions.
"Businesses don’t just need cards—they need better visibility and control over every dollar spent," Jamison noted.
With an embedded finance-first approach and growing bank partnerships, Extend is well-positioned to lead the next wave of innovation in SMB payments.
We’re thrilled to welcome Liberis as an official Unofficially Fintech sponsor. Embedded finance is a major theme at this year’s event, and Liberis is leading the charge by providing seamless funding solutions directly within platforms that businesses already use. They’ll be attending Fintech Meetup, talking all things embedded finance, so be sure to book some time with them! 👇
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