Imprint, a 5-year-old credit card startup, secures a co-branded card deal with Rakuten, beating out big banks in a competitive bidding process. The company recently raised $70 million in capital, boosting its valuation to $900 million. Imprint partners with small banks for card offerings, focusing on seamless digital experiences for customers.

Imprint sets itself apart by offering a user-friendly payment experience, avoiding regressive late fees common with other card companies. The company’s low customer acquisition costs allow for more rewards, like the new Rakuten card offering 4% cash back in addition to other perks. Imprint’s innovative approach challenges traditional players in the industry.

Read more at CNBC: Credit card startup Imprint beats big banks for Rakuten co-brand deal