Varo Bank Selects Marqeta As Issuer Processor In Five-Year Deal To Enhance Financial Inclusion And Opportunity; Marqeta's Advanced Card-Issuing Technology To Support Varo's Fee-Free Checking, Credit Building, Instant Payments, And More For Over 5M Cards
Portfolio Pulse from Benzinga Newsdesk
Varo Bank has chosen Marqeta as its issuer processor in a five-year deal aimed at enhancing financial inclusion and opportunity. Marqeta's advanced card-issuing technology will support Varo's fee-free checking, credit building, instant payments, and more for over 5 million cards.
August 06, 2024 | 12:13 pm
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Marqeta has secured a five-year deal with Varo Bank to become its issuer processor, supporting over 5 million cards with advanced card-issuing technology.
The partnership with Varo Bank is a significant win for Marqeta, potentially increasing its revenue and market presence. The deal's focus on financial inclusion and advanced technology aligns well with current market trends, likely boosting investor confidence in the short term.
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