Product Update: April 2022

Welcome to our monthly product update, where you can learn about new features, company highlights, and upcoming releases.

In this update: a new Lithic dashboard experience, unlocked virtual cards for Starter, and API improvements. Our CEO Bo Jiang was also featured on Sila’s Alpha Beta Launch podcast and Crunchbase included us on their emerging unicorn list 🚀.

By the way, if you’re not familiar with the consumer-side of our business (Privacy.com), check out our recent feature in The New York Times (Wirecutter).

Product Highlights

New Lithic Dashboard: We revamped our Dashboard to better serve developers and cross-functional users. This release adds support for multi-user teams and allows you to create unique logins for employees, set permission levels for those logins, and use more powerful search and filter functionality to make navigating your card program easier.

Unlocked cards for everyone: All new customers now have access to virtual cards without single-merchant restrictions by default, with existing customers to follow shortly.

Physical card character limits: We have updated recommended character limits by field in our Shipping Address Schema documentation in order to better ensure that card personalization will appear as desired.

Simplifying card and account spending limits: We’ve removed a check on creating cards with card spend limits greater than the corresponding account spend limits.

Previously, customers could not create cards with spend limits that conflicted with account-level spend limits (e.g., blocking monthly card limit of $200 because account has a daily limit of $100). All card and account limits will continue to be checked during authorization.

Company Highlights

Alpha Beta Launch podcast: Our CEO Bo Jiang was recently interviewed on Sila’s Alpha Beta Launch podcast. He talks about Lithic’s origins, how we help our customers, learnings from building Lithic to 145+ employees, and why it’s important to understand the language banks use.

Emerging Unicorn Board: We were featured on Crunchbase's Emerging Unicorn Board. The list features global private companies on the path to unicorn status that are valued between $500M and $1B.

Upcoming Releases

Partial Approvals: We are adding the ability to partially approve authorizations for customers using Auth Stream Access in Q2. This will allow cards with fixed balances (such as gift cards) to be applied to purchases when the purchase amount is greater than the balance on the card.

Python Client Library: Following last month’s release of our Node.js Client Library, we are publishing our client library in Python in May.