Canadian startup Stack partners Mastercard for digital money account with mobile tap-and-pay

Source: Stack

Stack announced a partnership with Mastercard today, two weeks ahead of its official Beta launch. More than 20,000 Canadians have registered for the Beta app, which will begin onboarding users this month through Google Play.

A public launch for both Android and Apple devices is planned for later this year.

STACK is reinventing financial services with a fee-free alternative to traditional banking. Combining advanced machine learning with customizable tools, the STACK app delivers a smarter way to spend, save and share your money, straight from your smartphone. STACK will be the first financial services provider to offer instant access to multi-currency and crypto wallets as part of a 360 degree solution to personal finance.

STACK accounts will include a chip-and-pin Mastercard prepaid card, providing seamless and secure point-of-sale access to worldwide retailers, global ATM networks and Purchase Protection on every transaction.

“Partnering with Mastercard supports our mission to provide a better alternative to traditional financial services, without compromising convenience or reliability,” said Miro Pavletic, Co-Founder and CEO of STACK. “Mastercard is a trusted technology expert in the payments industry, and we’re committed to working with the best of the best.”

“Canadians want to manage their money on their own terms and STACK is giving them that ability,” said Patrick Sulston, Vice President of market development in Canada, Mastercard. “With a Mastercard prepaid card inside the STACK app, Canadians can easily, securely and conveniently access their funds and shop in-store and online.”

STACK is the first financial technology company in North America to offer members a mobile tap-to-pay option attached to a digital money account, enabling members to pay with their mobile phones. Other features like automated savings, instant rewards and social sharing provide a lifestyle-focused approach to financial services.

“Canadians deserve better than what’s available in the current market,” said Pavletic. “With the advancements of tech-enabled financial services, we can finally offer a replacement to legacy institutions with a new, more consumer-friendly alternative.” 

Comments: (0)

Dorsum white paper - Building your future wealth management solution vol. 2
Visit apc.com