Karbon Card

Karbon Card, which operates under the brand Karbon Business, is a Bengaluru-based fintech serving Indian businesses with cross-border payment and expense management services. Its core offering, Karbon FX Remittances, covers both inward and outward foreign remittance for B2B payments, positioned on exchange rates and markup fees that the company states are lower than traditional banks and card services, with settlement to beneficiary accounts in four to eight hours. The company says it works only with PACB-licensed players and regulated banks for inward and outward flows, and it handles compliance elements such as A1 import payments and 15CB documentation.

Alongside remittance, Karbon offers a corporate prepaid card for expense management with real-time expense tracking, automated reporting, budget controls and cashback; a cloud discounts program that it says can reduce cloud costs by up to 60% through multiple partners without long-term lock-ins; and an AI Accountant product marketed as reducing accounting workload by 75-80%. Customer-facing content also includes a blog aimed at Indian freelancers covering topics such as W-8BEN forms for Upwork, platform tax statements and foreign tax credit Form 67.

Business model

Karbon does not charge a fee to initiate or enable a business cross-border payment; instead it states a markup fee on foreign exchange upfront, with customised rates available for higher-volume transactions. Additional products include a corporate prepaid card and access to discounted cloud services through partners.

Foreign exchange markup on cross-border remittance transactions, with pricing provided on sign-up and negotiated rates for larger volumes.

Traction

The website carries named customer testimonials from Suditi Industries Ltd., Jupiter and Newton School, describing use of Karbon for import A1 payments and consolidated foreign remittance volume.