April 21, 2021 | 2 min read
Convenient, no-fee access to cash with a Marqeta card
Marqeta is pleased to announce a new partnership with Cardtronics, giving any cardholder with a Marqeta card access to the company’s network of surcharge-free Allpoint ATMs.
Although our recent consumer survey showed that overall ATM usage declined due to health concerns during COVID-19, cash still makes up a significant portion of payments, especially for certain segments of the population that rely on cash for their earnings and certain transactions.
Three-quarters of underbanked consumers are using “as much or more cash” today as they were before COVID-19.
While digital transactions continue to grow, cash was still expected to represent 28% of all U.S. payments in 2020.
The ability to use ATMs without a fee is now the second-most ranked driver of convenience for U.S. banking consumers.
That is why Marqeta has joined Cardtronics’ Allpoint network of surcharge-free ATMs. Now any digital bank, fintech, or business building a card program on the Marqeta platform can provide their cardholders with convenient, no-fee access to cash. Allpoint’s network of approximately 55,000 ATMs globally are located in high-traffic locations such as grocery and convenience stores, pharmacies, and big-box stores, reducing barriers for cardholders who need quick and convenient access to their funds.
“In an increasingly competitive digital banking space, surcharge-free ATM access is becoming table stakes for companies looking to bring modern banking products to market,” said Salman Syed, SVP/GM of North America at Marqeta. “We’re looking forward to enabling Marqeta customers to offer access to Cardtronics’ ATM network through our modern card issuing platform.”
Learn more about Marqeta’s partnership with Cardtronics’ Allpoint ATM network here.