In a strategic move to bolster its card issuing and processing capabilities, Varo Bank has entered into a five-year agreement with Marqeta, designating Marqeta as its exclusive issuer processor in the United States. This partnership aims to leverage Marqeta’s advanced technology platform to enhance the financial products and services offered by Varo Bank.
Founded with a mission to provide accessible and affordable banking services, Varo Bank has rapidly grown its customer base. The collaboration with Marqeta is expected to streamline Varo’s card issuance process, enabling faster and more efficient services for its users. Marqeta’s modern card issuing platform is renowned for its flexibility, scalability, and robust security features, making it an ideal partner for Varo’s ambitious growth plans.
Colin Walsh, CEO of Varo Bank, expressed enthusiasm about the partnership, stating, “Partnering with Marqeta allows us to further innovate our product offerings and deliver exceptional banking experiences to our customers. Marqeta’s technology aligns perfectly with our mission to provide seamless, cutting-edge financial solutions.”
Marqeta’s CEO, Jason Gardner, echoed this sentiment, noting, “We are excited to support Varo Bank’s vision of transforming banking. This partnership underscores our commitment to empowering digital banks with the tools they need to succeed in a competitive landscape.”
The agreement signifies a significant milestone for both companies. For Marqeta, it represents an expansion of its footprint in the fintech space, while for Varo Bank, it marks a crucial step towards enhancing its service delivery and customer satisfaction.
As Varo Bank continues to innovate and expand, the collaboration with Marqeta is set to play a pivotal role in shaping the future of digital banking in the U.S., offering customers improved access to innovative financial products and services.