HOW US UNLOCKED HELPED SHIFT THE COURSE OF TERN

People in the US have no problem shopping online, but if you are in another country, shopping online in the US can be difficult. The merchant blocks international cards, or people don’t have cards or credit in their country. if you can find a way to get through, then you will still have the challenge of getting what you bought delivered to you.

US Unlocked virtual cards enable people and businesses outside the US to access US goods and services online, allowing almost anyone access to online merchants in the US. They also connect people with freight forwarding companies so goods can be delivered right to their doorstep. Merchants get to expand their customer base globally increasing profit margins without having to solve for all the challenges.

What can you do with US Unlocked?

Limiting Fraud and Risk

US Unlocked allows customers to control how they use their cards. With the options of a one-time use or specific merchant cards, customers limit risk of fraudulent spending. Customers can load fund to their US Unlocked account through global payment methods, similar to local bank transfers. Wallet balances fund all the cards issues to a customer on the US Unlocked platform. Transactions get authorized in real-time against wallet balances and the rules set up by customers.

How it Works – Shopping

US Unlocked is easy to use and set up. Customers apply for an account, load funds with their preferred local payment methods, and can immediately start creating virtual cards. Both one-time use and merchant specific cards can be stored in the customers wallet and can be used to buy both physical and digital goods for nearly every US merchant.

How it Works – Shipping

US Unlocked has spent years partnering with the best freight forwarding companies whose sole purpose is to make sure the items bought online can be shipped all over the world. All US Unlocked users have a freight forwarding address which is tied to the billing address for the virtual cards resulting in an incredible high acceptance rate. Freight forwarders are important to US Unlocked as they offer package consolidation services and enhance fraud controls.

The Result

Since Tern revamped US Unlocked in 2020, global adoption has rapidly grown. Since then, users have increased by over 360% completing over 144K transactions. The program has received over 5 million dollars of loads used at over 300 different US merchants. With growth year over year, US Unlocked is changing the way non-US residents interact with US goods and digital services.

Download the full US Unlocked case study.

Looking to the Future

Acquiring US Unlocked challenged Tern to develop simple solutions for complex payment problems. In doing so, we realized that we could build an all-in-one platform capable of supporting many corporate and consumer funds flows.

The overall utility of virtual cards and the growing customer success of US Unlocked has prompted Tern to launch Tern Cards. Enabling cross-border transactions coupled with the flexibility and controls of virtual cards will enable the next generation of local and global commerce. Tern’s customers are able to bring products to market quickly using low code and no code infrastructure. Whether paying vendors, receiving customer payments, or managing operating expenses – Tern Cards can handle it. Best of all – your company will earn revenue just by using the tools we give you. To learn more, please visit our Tern Cards website and sign up for our waitlist.