Today we
announced we’ve signed a five-year deal with
Varo Bank, N.A., the first nationally-chartered consumer techbank in the U.S., to become its issuer processor. Varo Bank offers services such as fee-free checking accounts, free ATM access at over 40,000 locations, cash advances and lines of credit, secured credit-building credit cards, instant payment solutions and high yield savings accounts to customers, with over five million cards in-market. Varo selected Marqeta for its ability to combine sophisticated virtual, tokenized and physical card-issuing technology with faster speed-to-market which will help its customers improve their daily relationship with money.
announced we’ve signed a five-year deal with
Varo Bank, N.A., the first nationally-chartered consumer techbank in the U.S., to become its issuer processor. Varo Bank offers services such as fee-free checking accounts, free ATM access at over 40,000 locations, cash advances and lines of credit, secured credit-building credit cards, instant payment solutions and high yield savings accounts to customers, with over five million cards in-market. Varo selected Marqeta for its ability to combine sophisticated virtual, tokenized and physical card-issuing technology with faster speed-to-market which will help its customers improve their daily relationship with money.
Through its mobile app, Varo’s innovative financial platform empowers customers, improves their financial health and helps them make real progress with their money. With Marqeta’s platform, Varo will also enable digital wallet tokenization with Apple and Google Wallets for its cardholders. Varo is the first bank to receive a de novo national bank charter as a consumer techbank in the U.S.
"We sought an issuer partner that complements our unique position as both a technology company and a regulated financial institution," said Varo Bank CEO Colin Walsh. "This partnership with Marqeta enables us to offer cutting-edge card issuing technology, giving our customers enhanced ability to view and manage their transactions efficiently. This advancement aligns perfectly with our mission of financial empowerment."
