Fast Reconciliation Powers Embedded Payments
Bo Jiang, CEO of Lithic, on the power of the cards as a digital payment rail
Fast reconciliation is not a back office nice to have, it is what makes card based payments usable as core infrastructure inside a fintech or software product. When a company issues cards inside banking, procurement, or travel workflows, it needs to match each swipe to cash movement, fees, and a ledger entry quickly enough to answer users, close books, and manage risk. That is why Lithic built settlement reporting around daily network activity, fees, and bank account cash movement, not just card authorization APIs.
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The hard part is not the happy path payment. The hard part is exceptions. Returns, credits, force posts, and fee adjustments. Lithic frames reconciliation as turning messy network level events into a consistent rules based feed that finance teams can trust down to the penny.
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This matters well beyond banks. Order uses Lithic virtual cards so each vendor payment is tied back to the purchase order and invoice inside its software, then rolled into one customer bill. The product value is fewer hours of bookkeeping, not just moving money.
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Comparable embedded card products sell the same outcome. Brex and Navan tie each booking to a fresh Brex card and reconcile travel reports against card statements with a shared transaction ID. The competitive standard is increasingly exact match reconciliation inside the workflow where spend begins.
The category is moving toward payment rails becoming invisible and reconciliation becoming the product surface. The winners will be the platforms that let software companies issue a payment, see fees and cash movement the same day, and push a clean record straight into finance and operations systems.