Lithic

Lithic, previously known as Privacy.com, is a New York City-based financial technology company with a focus on developing financial services products. The company was founded in 2014 and has developed a financial services platform specifically for payments and card issuing tools for both virtual and physical cards.

Lithic's platform of the same name is designed for developers, and the full stack version of it acts as a toolkit to build credit, debit, or prepaid products. Developers can use the platform for virtual and physical card issuance, digital wallet configuration, same-day and next-day Automated Clearing House (ACH) money transfers, fraud detection capabilities, and more.

Developers can also opt for a processor-only version so they can build their own stack while Lithic processes the transactions. Companies can also use Lithic's application programming interfaces (APIs) for money transactions, building card programs, and issuing debit, credit, or prepaid cards to other businesses and consumers.

In 2022, Lithic Send, a suite of products for card disbursement programs, was launched. It can be used by businesses to create custom payout solutions with features such as account opening, account funding, native ledger, and transaction and balance tracking. Use cases for this product from Lithic include the following:

• payout solutions for class action lawsuits or insurance claims
• payroll solutions for independent contractors
• corporate incentive and rewards programs