Ramp or Mercury: A Comparison of Banking and Spend Management Solutions

At first glance, Mercury, Ramp, and Slash may appear similar. All three are digital-first financial platforms built to modernize business banking. They feature intuitive interfaces, comparable core functionality, and a shared goal: to make financial management simpler and more efficient. But in practice, these platforms differ more than their similarities may suggest.

Although Mercury and Ramp continue to expand their platforms, they each approach financial operations through their own lens. For example, Mercury offers more credit products than Ramp, while Ramp surpasses Mercury in integration capabilities. Slash, however, brings a wider range of functionality by unifying banking, payments, and operational tools that exist across both competitors into a single system. This consolidation can lead to improved visibility, smoother workflows, and fewer disconnected tools to manage.

Understanding how Mercury, Slash, and Ramp differ can help you choose the right platform for your business. In this guide, we compare the key features and products across all three and highlight what sets Slash apart: comprehensive financial infrastructure, industry-leading rewards, cryptocurrency support, and capabilities that unify tools often spread across multiple financial solutions.¹﹐⁴ Keep reading to learn how Mercury, Ramp, and Slash compare head-to-head.

What you need to know before making a choice: Mercury, Ramp, and Slash

All three fintech platforms champion a digital-first approach focused on streamlined tools, automation, and greater versatility. But their offerings vary widely, from the types of businesses they serve to the products they deliver. Here’s a brief look at what sets them apart:

What is Mercury?

Mercury launched in 2019 as a banking platform built for startups. Mercury serves late-stage startups, tech companies, and mid-to-large organizations looking for software-driven financial operations.

Below are some possible limitations associated with Mercury’s products and services:

• Relatively limited rewards: Mercury offers flat-rate cashback rewards of up to 1.5% from its corporate cards. This can lag behind competitors like Slash, which can earn up to 2%.
• Fewer payment options: Lacks ability to send funds using real-time payment rails like RTP and FedNow; does not support cryptocurrency payments for fast, low-fee international transfers.
• Higher FX fees: Mercury applies a relatively high 3% foreign transaction fee compared to Slash, which charges just 1% for cross-border transfers or less than 1% for USDC and USDT off-ramping.
• Overseas account closures: News outlets reported in 2024 that Mercury suddenly closed accounts across Africa with minimal warning, leaving many overseas customers without access to funds.

What is Ramp?

Ramp began in 2019 as a corporate card and spend-management platform focused on automation. It partners with Celtic Bank, Column N.A., Intrafi Network LLC, and others for its banking and credit products. Ramp is built for high-growth startups and SMBs looking for an automation-heavy corporate card program or access to a large number of third-party integrations.

Here are some possible drawbacks to using Ramp’s products and services:

• Relatively limited rewards: Ramp also offers a straightforward 1.5% cashback, which is less than Slash’s 2% cashback on purchases. As of November 2025, Ramp’s Invesco treasury account offers around 3.9% annualized yield, the lowest of the three competitors.
• No native cryptocurrency support: Unlike Slash, Ramp doesn’t support stablecoin wallets, crypto payouts, or on/off-ramp functionality, which can prevent cost-savings opportunities when sending cross-border payments.
• Lack of working capital options: Ramp does not have flexible financing products (e.g. tailored lines of credit) that other financial service providers offer.

What is Slash?

Founded in 2020, Slash is the youngest of the three companies; however, its products and services outpace its more established competitors. Slash partners with Column N.A. and Lead Bank for its credit products and banking services. The platform is accessible to businesses of all sizes, including non-U.S. companies without an LLC, through the Global USD account.

Here are some of Slash’s key features:

• Built-in cryptocurrency support: Slash lets you on- and off-ramp USD-pegged stablecoins including USDC, USDT, and USDSL. This gives you access to near-instant global transfers that avoid traditional processing delays and FX fees.
• Slash Working Capital: Slash’s financing solution allows you to draw funds directly from the dashboard with flexible 30, 60, and 90-day repayment terms, which can provide short-term liquidity that supports faster growth.5
• Competitive treasury yield: Slash offers higher annualized yields than Mercury and Ramp, with treasury account options earning up to 4.1%.6
• Industry-leading cashback: Mercury and Ramp’s corporate cards earn up to 1.5% cashback, while the Slash Visa® Platinum Card can earn up to 2%.
• Dynamic transfer options: Beyond standard ACH and wire transfers, Slash natively supports real-time payments via RTP and FedNow, plus USD-denominated stablecoin transfers across eight major blockchains.

How do Mercury, Ramp, and Slash compare?

To understand how each platform stacks up, here’s a breakdown of how Mercury, Ramp, and Slash compare across their key products and features so you can evaluate your options and choose the solution that delivers the most value for your business:

Typical qualifications and ease of account setup

Fintech platforms can offer more obtainable qualification requirements than traditional banks. This can include reduced reliance on credit checks, personal guarantees, or extensive financial documentation. While Mercury, Ramp, and Slash may be more accessible than legacy institutions, each caters to different business stages and industry profiles. Slash stands out for its inclusivity; qualifications can be attainable for many small-and-medium sized businesses, and its Global USD Account allows non-U.S. businesses without a U.S.-registered LLC to qualify and gain access to Slash’s payment rails and cryptocurrency support.

Corporate card features

All three platforms offer corporate cards designed to sync transaction data directly into their systems, which can simplify expense management, cash flow visibility, and accounting integration. Slash and Ramp both issue corporate charge cards, which require full repayment each billing cycle and do not extend revolving balances. Mercury, by contrast, offers a credit card with revolving credit capabilities, though balances can accrue interest at rates of 30.74% APR. Slash leads on rewards, offering up to 2% cashback compared to Mercury and Ramp’s cap of 1.5%.

Cryptocurrency support

Mercury and Ramp do not provide native tools for holding, sending, or receiving cryptocurrency. By contrast, Slash supports payments using the two most widely adopted USD-pegged stablecoins, USDC and USDT, which enable faster, lower-fee transfers because they move over blockchain networks rather than traditional banking rails. These stablecoins maintain parity with the U.S. dollar to minimize volatility, an advantage of using stablecoins for transactions over unpredictable assets like Bitcoin or Ethereum. USDC’s issuer, Circle, also adheres to Europe’s MiCA regulatory framework, adding another layer of global compliance.

Working capital financing

Ramp does not currently offer tailored credit or financing lines. Mercury and Slash both provide working-capital options, but Mercury’s offering is more rigid, relying on a fixed weekly repayment schedule. Slash provides greater flexibility, allowing businesses to draw down funds directly from the dashboard and choose between 30, 60, or 90-day repayment periods, which can be more adaptive to variable cash-flow cycles.

Insured Cash Sweep (ICS) programs

ICS programs increase FDIC coverage by distributing deposits across a network of partner banks. While FDIC insurance normally tops out at $250,000 per account, these sweep networks can extend protection into the millions (depending on the platform and the business’s total balance). Mercury, Ramp, and Slash all offer expanded FDIC protection through their respective partner-bank networks.

User experience and reliability

All three platforms prioritize intuitive, digital-first banking experiences. Users can quickly send domestic or international payments, monitor spending, integrate with accounting tools, and manage employee controls with just a few clicks. Automated expense management rules and configurable APIs can further streamline compliance and data workflows. One caveat: Mercury has faced reliability concerns following reports of overseas account closures last year, which may give some global businesses pause.

Additional alternatives to Ramp and Mercury

Outside of the direct one-to-one comparison, several other financial platforms frequently enter the conversation when businesses evaluate which financial solution is right for them. These products also aim to streamline financial management or offer banking instruments, but each can come with its own tradeoffs. Below is a quick look at some additional competitors in the space:

• Brex: Brex is another fintech platform that can improve automation, data organization, and integration potential. Rather than straightforward cashback rewards, Brex uses a points-based system geared toward tech-forward and high-growth companies. Brex does not yet support blockchain compatibility, and its rewards structure may not align well with the needs of SMBs.
• American Express: Amex is known for its reliability and premium rewards through its Membership Rewards program. It offers a wide range of credit and charge cards, each with different point structures, introductory offers, qualification requirements, and annual fees. Amex lacks the automation capacity and expense-management tools that modern fintech platforms now provide.
• Stripe: Stripe is a strong solution for billing and customer payments, and it also offers business banking functionality. However, its services come with a range of fees—from 10¢ per virtual card issued to a $620 monthly subscription for its software suite. Additionally, Stripe does not provide high-yield treasury accounts, which many competitors include.

Nov 24, 2025

Brex vs American Express: Best Platform for Businesses

Author:

Making the right financial move with Slash

Many fintech platforms can help streamline financial management, reduce manual work, and improve overall efficiency. Still, few offer the kind of all-in-one experience that growing businesses actually need to stay competitive. Slash brings banking, payments, crypto tools, and rewards together in a single platform that feels cohesive and easy to use across your daily operations.

Slash also offers a wider range of capabilities that support both day-to-day tasks and long-term planning. You can move money through real-time transfers, blockchain rails, or traditional methods; use stablecoins when speed and cost matter; earn strong cashback on purchases; and grow idle funds through high-yield treasury options. Everything works together so you can manage more of your financial workflow in one place with less friction.

Just as importantly, Slash keeps improving. New features and updates roll out every month, giving you more ways to move and manage money with greater speed and clarity. Over time, this steady progress helps ensure your business is always working with financial tools that stay ahead of your needs rather than falling behind them.

The future of business finance is simpler, faster, and more connected. Make the shift with Slash and stay ahead of whatever comes next. Learn more today at slash.com.

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Frequently asked questions

Which platform is more suitable for startups versus established businesses?

While all three platforms offer compatibility with startups, Slash may be the most accessible. Slash has a streamlined application that requires an EIN, articles of incorporation, and only 2 recent bank statements. For our specialized Global USD Account, qualifying is even more straightforward, as it does not require your international business to have a U.S.-registered LLC.

Which platform is more suitable for e-commerce and tech businesses?

Slash is a vertical-specific business banking platform with industry specific tools for e-commerce and tech. E-commerce companies can benefit from Slash multi-entity support to manage accounts for multiple storefronts, and you can make fast, low-fee vendor payments with USD-pegged stablecoins. Tech companies get powerful employee spend management with Slash charge cards, detailed cash flow insights, and real-time data sharing across platforms with the configurable Slash API.

Who competes with Ramp?

Ramp is a fintech platform that competes most directly with Slash, Brex, Mercury, and others. They also compete with legacy U.S. banking institutions like Amex and Chase.