The problems faced by most credit card holders in America include high APR on payments, hidden costs behind cash backs and unavailability of cash back at many stores. Additionally, applying for a credit card in America is not a simple process. It involves a lot of paperwork and it is a time consuming process.
To simplify the credit card industry by designing it around mobile, blispay is launching its credit card service in early 2016 with a value proposition that states, “The best way to pay in early 2016”. It aims at making blispay the best way to pay by giving the users 6 months or even more to pay back without any interest, automatic cash back with no hidden fees, usability at everyplace where major credit cards are accepted and most importantly making this whole process extremely mobile friendly. One can apply for the blispay credit card from his/her mobile in seconds and get an immediate response whether the credit card is approved or not. The approval can be shown to the store representative to continue using blispay for shopping. A user can use blispay for online purchases too. In short, blispay is planning to offer the best banking experience to consumers and businesses. Their business goals revolve around transforming the ways people get short-term loans and businesses offer credit incentives.
Gregory Lisiewski who has been the Head of Global Credit at PayPal, VP of Marketing at Bill Me Later and SVP Marketing at MBNA BANK is the founder of blispay. Currently, they are a team of 10 people operating from Baltimore, Maryland. The company raised $3.5 Million in December 2014. Many entrepreneurs and finance professionals have invested in blispay. Their lead institutional investors are Atlas Ventures (currently operating as FKA) from Boston, NEA from Washington, D.C. and Founder Collective from New York City. Other investors include Brian Shin who is the founder and CEO at Visible Measures and Richard Ginsberg, the VP of Engineering at Guidepoint. Presently, the company has 6 advisors as published on AngelList. Vince Talbert, co-founder at Bill Me Later and Dave Fetterman, a tech advisor are few amongst those 6.