Knot and Astra Partner To Enable Seamless Card Switching with Instant Funding
New York, NY – December 20, 2023 – Knot, the leader in frictionless card-on-file updates, and Astra, the pioneer in instant payments-as-a-service, today announced a groundbreaking partnership that will revolutionize how card issuers and cardholders manage their finances. This collaboration brings together Knot’s instant card-switching technology with Astra’s API-driven instant funding platform, creating a seamless experience that eliminates the pain points of card transitions.
No More Waiting: Instant Funding for New Cards
Previously, switching to a new card often meant days of waiting for funds to transfer and hours spent updating merchant card on file information. This clunky process has often left users stranded, unable to access their money, and card issuers suffering from reduced transaction volumes. The Knot-Astra solution eliminates this frustration entirely. In a matter of seconds, users can instantly fund their account and simultaneously update their saved payment methods.
“This is how fintech is meant to work – the card you want to use, the funds available instantly – through the same interface,” says Gil Akos, CEO of Astra. “We’re thrilled to combine forces with Knot and empower fintech products to move their issued cards to the top of wallet while giving consumers true financial agility. Imagine never having to wait to use your debit card at your merchant of choice – it’s an end-to-end instantaneous experience at its purest.”
Frictionless Transitions, Powered by Technology
Knot’s technology automatically updates a cardholder’s stored card details across various merchants and services, eliminating the need for manual updates. Astra’s API seamlessly integrates with existing systems, making instant funding a reality for any fintech company or bank.
“Our mission at Knot has always been to simplify how people manage their finances,” explains Rory O’Reilly, CEO of Knot. “By partnering with Astra, we’re taking that mission to the next level. This is about giving users control and flexibility, and we believe this solution will have a profound impact on the financial ecosystem.”
The Future of Finance: Frictionless, Instant, and Empowering
The Knot-Astra partnership is a natural fit. Both companies are simultaneously working to increase the efficiency of the onboarding and funding experiences for consumers while enabling better economies for issuers. By combining the best of both offerings, fintechs and banks alike can now provide a 10/10 onboarding and funding experience with even less effort – a big win for all parties.
About Knot
Knot is a leading finance API provider that enables frictionless card-on-file updates for card issuers. Their innovative technology allows cardholders to seamlessly update their saved payment methods without disruption, ensuring uninterrupted access to their funds and services.
For more information, visit https://knotapi.com.
About Astra
Astra offers advanced payment infrastructure, powering faster transfers for fintech products, financial institutions, and enterprises. Astra’s proprietary, vertically integrated API enables developers to offer instant payments and accelerated bank transfers, with built-in optimizations to reduce risk.
For more information, visit https://astrafi.com.
Media Contact:
For Knot: Nick White
[email protected]
For Astra: Sam Morgan
[email protected]