On Monday, Canadian fintech startup Stack announced it has formed a partnership with MasterCard to launch its digital money accounts with mobile tap-to-pay functionality. Stack stated its accounts will include a chip-and-pin MasterCard prepaid card that provides secure point-of-sale access to worldwide retailers, global ATM networks, and Purchase Protection on every transaction.
Miro Pavletic, co-founder and CEO of Stack, stated:
“Partnering with MasterCard supports our mission to provide a better alternative to traditional financial services, without compromising convenience or reliability. MasterCard is a trusted technology expert in the payments industry, and we’re committed to working with the best of the best.”
Patrick Sulston, Vice President or Market Development at Canada MasterCard, also commented:
“Canadians want to manage their money on their own terms and Stack is giving them that ability. With a MasterCard prepaid card inside the Stack app, Canadians can easily, securely, and conveniently access their funds and shop in-stores and online.”
Pavletic went on to add:
“Canadians deserve better than what’s available in the current market. With the advancement of tech-enabled financial services, we can finally offer a replacement to legacy institutions with a new, more consume-friendly alternative.”
Stack revealed that over 20,000 Canadians have registered for the Beta app and the public launch for both Android and Apple devices is scheduled for later this year.