Merchant Partners
Merchant Partners operates 1stMILE, a mobile-first financial platform connecting drivers with 10,000+ automotive shops through a co-branded Mastercard, vehicle protection plans, and a loyalty rewards program.
- Company typePrivate
- Founded2024
- HeadquartersRedmond, United States
- Headcount—
- GTM typeB2C
- OfferingServices
What Merchant Partners does
Merchant Partners, headquartered in Redmond, United States, is a private financial solutions company founded in 1999. Its operating business, 1stMILE, is structured as 1stMILE, LLC — a Registered Independent Sales Organization (ISO) and Member Service Provider (MSP) of BMO Harris Bank N.A. and Citizens Bank, N.A. The platform targets the automotive aftermarket, connecting vehicle-owning consumers with a network of more than 10,000 automotive repair and service shops through an integrated suite of financial and protection products.
1stMILE's core offerings are delivered via a mobile-first platform consisting of four interlocking products: (1) 1stMILE Financing, anchored by the co-branded 1stMILE Mastercard credit card that enables flexible payments for repairs, maintenance, and upgrades; (2) 1stMILE Protect, a vehicle protection program providing roadside assistance, towing, and repair service coordination; (3) 1stMILE Rewards, a loyalty program that lets drivers earn and redeem points at participating shops; and (4) the 1stMILE mobile application, which serves as the consumer interface for shop discovery, financing access, rewards management, and protection enrollment. The technology stack is a dual-channel distribution model combining direct-to-consumer self-service through the app with B2B2C distribution via the shop partner network.
The revenue model is multi-stream and transaction-based: interchange fees on Mastercard transactions, interest income from consumer financing, recurring subscription revenue from protection plans, and partnership/shop fees from the 10,000+ shop network. Merchant Partners monetizes through this banking-licensed infrastructure rather than acting as a direct lender, using the ISO/MSP relationship with BMO Harris and Citizens Bank to underwrite and issue credit. Customer segments are split between end-user drivers/consumers (primary) and automotive shop owners (primary business channel), with pricing determined by individual creditworthiness and shop-level commercial arrangements.
Merchant Partners firmographics
Firmographics- Name
- Merchant Partners
- Legal name
- 1stMILE, LLC
- Website
- https://merchantpartners.com
- Company type
- Private
- Founded year
- 2024
- Operating status
- Operating
- Short description
- Merchant Partners operates 1stMILE, a mobile-first financial platform connecting drivers with 10,000+ automotive shops through a co-branded Mastercard, vehicle protection plans, and a loyalty rewards program.
- Ownership category
- akta.pro rank
Merchant Partners industry classification
Industry- Product category
- Automotive Financial Services
- NAICS
- Credit Card Issuing (522210), Sales Financing (52222)
- SIC
- Personal Credit Institutions (6141), Short-Term Business Credit Institutions (6153)
- akta.pro primary industry
- Virtual / Digital-First Credit Cards (FSAKABAK)
- akta.pro secondary industries
- Merchant-Branded Installment Financing (Retailer Private-Label) (FSAKAFAA), Commercial & Corporate Card Schemes (FSAMAAAF)
Keywords
Where Merchant Partners is headquartered
LocationHeadquarters
- HQ city
- Redmond
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Merchant Partners business model
Business model- GTM type
- B2C
- Offering type
- Services
- Cost components
- Operations, Personnel, Technology or R&D, Marketing or Sales, Infrastructure
Revenue model
- Credit Card Interchange: 1stMILE Mastercard generates revenue through interchange fees on transactions processed through the credit card.
- Financing Interest: Flexible payment financing options on auto repairs and maintenance generate interest income from consumers.
- Protection Plans: Vehicle protection services including roadside assistance and repair coverage generate recurring revenue from protection plan subscriptions.
- Shop Partnership Fees: Automotive shops pay fees or share revenue to participate in the 1stMILE network, offering their customers financing, rewards, and protection options.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Usage-based | Monthly | Financing options vary based on creditworthiness and loan terms |
| Transaction based/ take rate | Monthly | 1stMILE Mastercard credit card |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels5 records
Merchant Partners product offering
Product offeringCore offering
Merchant Partners operates 1stMILE, a consumer automotive financial services platform that combines flexible financing (including the 1stMILE Mastercard credit card), a vehicle protection program with roadside assistance and towing, and a shop-based loyalty rewards program. The platform connects drivers with over 10,000 participating automotive shops via a mobile app, enabling affordable payments for repairs, maintenance, and tire purchases along with redemption of earned rewards. Banking infrastructure is provided through registered bank partners BMO Harris Bank N.A. and Citizens Bank, N.A.
Product overview
1stMILE is a platform offering a unified suite of automotive financial and protection products for drivers and shops. The core offerings include: 1stMILE Financing (with the 1stMILE Mastercard credit card) for affordable payment plans on repairs and maintenance; 1stMILE Protect providing vehicle protection with roadside assistance, towing, and repair coverage; and 1stMILE Rewards enabling drivers to earn and redeem loyalty points at participating automotive shops. The 1stMILE App serves as the mobile interface for drivers to access these services and locate shops. The platform connects drivers with more than 10,000 automotive shops through a unified ecosystem combining financing, protection, and loyalty features.
Differentiator
Problem solved
Functional benefit
Brands
- 1stMILE Mastercard: Credit card product for automotive financing options
- 1stMILE Protect
- 1stMILE Rewards
Products and services
- 1stMILE Financing (with 1stMILE Mastercard) Flexible payment options and the 1stMILE Mastercard credit card enabling drivers to finance auto repairs, maintenance, and upgrades at participating automotive shops.
- 1stMILE Protect Vehicle protection coverage offering roadside assistance, towing, and reliable auto repair services coordination for drivers.
- 1stMILE Rewards Loyalty program allowing drivers to earn rewards on purchases from participating automotive shops and save on future repairs, upgrades, and tire purchases.
- 1stMILE App Mobile application enabling drivers to find shops, earn rewards on repairs, maintenance, and tire purchases at over 10,000 automotive shops, and access financing and protection services.
Quantifiable outcome
- Available at more than 10,000 automotive shops
Companies that use Merchant Partners
Customer profileSegments2 records
Ideal customer profiles2 records
Merchant Partners technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Merchant Partners partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- 10,000+ Automotive ShopscoreA network of over 10,000 automotive shops participate in the 1stMILE ecosystem, offering customers access to financing, rewards programs, and protection plans at their service locations.
Scale indicators1 record
Recent moves6 records
Expansion highlights5 records
Merchant Partners competitors and assessment
Company assessmentBroad incumbents
- Synchrony Financial: Synchrony Financial is one of the largest private-label credit card issuers in the US, with major partnerships in retail and healthcare (CareCredit). It competes broadly with 1stMILE's Mastercard model and represents the dominant scale player in the co-branded card space 1stMILE operates in.
- Affirm: Affirm is a leading BNPL/point-of-sale financing provider with growing penetration in auto-related purchases. While it is a broader consumer finance platform, its auto segment directly overlaps with 1stMILE's installment financing offering and represents a well-capitalized competitive threat.
- Klarna: Klarna is a major BNPL provider offering short-term installment financing at the point of sale across many merchant categories. While primarily e-commerce focused, its Pay-in-Long-Term and financing products overlap directly with 1stMILE's flexible payment options for higher-ticket auto services.
- Citizens Pay (Citizens Financial Group): Citizens Pay is the point-of-sale financing arm of Citizens Financial Group, offering installment loans at retail and service merchants. Notably, Citizens Bank is already a partner bank for 1stMILE, making this both a competitive overlap and a strategic counterparty in the ISO structure.
- PayPal Credit: PayPal Credit offers revolving and short-term financing to consumers at checkout. As a digital-first revolving credit product, it competes for the same end-user wallet share as the 1stMILE Mastercard for online auto-related purchases and accessory spending.
Direct peers
- Snap Finance: Snap Finance provides lease-to-own and installment financing to underbanked consumers, with strong penetration in auto repair, tires, and accessories. It targets the same credit-constrained customer segment and the same shop-based distribution as 1stMILE.
- Sunbit: Sunbit is a point-of-sale financing fintech specifically focused on auto repair, dental, and other service verticals. It offers short-term installment loans at the shop POS, directly competing with 1stMILE's financing product and sharing the same SMB shop-distribution GTM.
- CareCredit (Synchrony Financial): CareCredit is a Synchrony Financial product offering dedicated healthcare, veterinary, and auto repair financing via a branded credit card accepted at provider locations. It is the most direct comparable to 1stMILE: a co-branded card + installment financing product embedded in a vertical merchant network.
Others
- Auto Repair-Focused Loyalty Programs (e.g., Goodyear/AutoZone service networks): Large auto parts/service retailers like AutoZone operate loyalty programs tied to automotive spend. These are adjacent comparables for the 1stMILE Rewards model and demonstrate the value of loyalty-driven repeat purchase behavior in the auto service vertical.
Emerging players
- Roadside Protect / extended warranty providers (e.g., Assurant): Assurant and similar vehicle protection plan providers offer roadside assistance and extended warranty products that overlap with 1stMILE Protect. They represent the competitive set for the recurring protection revenue stream.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Merchant Partners social profiles
Digital presenceMerchant Partners financial estimates
Financial estimateRevenue estimate
Valuation estimate
Merchant Partners leadership team
Management profileNumber of profiles
Merchant Partners funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Merchant Partners M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Merchant Partners
What does Merchant Partners do?
Merchant Partners operates 1stMILE, a consumer automotive financial services platform that combines flexible financing (including the 1stMILE Mastercard credit card), a vehicle protection program with roadside assistance and towing, and a shop-based loyalty rewards program. The platform connects drivers with over 10,000 participating automotive shops via a mobile app, enabling affordable payments for repairs, maintenance, and tire purchases along with redemption of earned rewards. Banking infrastructure is provided through registered bank partners BMO Harris Bank N.A. and Citizens Bank, N.A.
Is Merchant Partners a public or private company?
Merchant Partners is a private company. It is classified as unknown and is currently operating.
When was Merchant Partners founded?
Merchant Partners was founded in 2024.
Where is Merchant Partners based?
Merchant Partners is headquartered in Redmond, United States, in the North America region.
How does Merchant Partners make money?
Four revenue lines are on record. Credit Card Interchange is the primary driver. The others are financing Interest, protection Plans and shop Partnership Fees.
Who are Merchant Partners's main competitors?
Broad incumbents on record are Synchrony Financial, Affirm, Klarna, Citizens Pay (Citizens Financial Group) and PayPal Credit. Direct peers are Snap Finance, Sunbit and CareCredit (Synchrony Financial). Auto Repair-Focused Loyalty Programs (e.g., Goodyear/AutoZone service networks) is listed as an others. Roadside Protect / extended warranty providers (e.g., Assurant) is listed as an emerging player.
Does Merchant Partners have an API?
No public API is recorded for Merchant Partners.
What industry is Merchant Partners in?
Merchant Partners's product category is Automotive Financial Services. Its primary akta.pro industry code is FSAKABAK, Virtual / Digital-First Credit Cards, with a secondary code of FSAKAFAA, Merchant-Branded Installment Financing (Retailer Private-Label). Its NAICS code is 522210 and its SIC code is 6141.