Digital Banking: Quontic Bank Launches Payments Ring in the US


Quontic Bank announced that it has introduced the “first-ever” tap-to-pay mobile payment ring to the US market.

Quontic is an “innovative,” “digital-first,” and “customer centric” bank on a mission “to redefine how a bank and its customers conduct business.”

Steve Schnall, CEO and Founder of Quontic, stated:

“Welcome to your debit card, evolved. Quontic is the first bank to offer Bitcoin rewards on a checking account, the first to offer a wearable payment solution, and, often, the only bank willing to demonstrate just how innovative a digital bank can be. We’re pleased to continue to push the industry forward and will continue to make it easier for Americans to bank, wherever and however they choose.”

Customers are able to “link the ring to one of Quontic’s three market leading checking accounts: High Interest Checking, which can earn up to 1.01% APY; Bitcoin Rewards Checking, which earns 1.5% Bitcoin on all eligible purchases, and Cash Rewards Checking, which earns 1.5% cash back on all eligible purchases.”

As noted in the update, Quontic “is committed to making banking more equitable for its customers.”

As a U.S. Department of Treasury certified Community Development Financial Institution (CDFI), Quontic “provides access to homeownership to low-income families, immigrants, small business owners and others who have earned, saved and budgeted their money on the path to homeownership.”

During the past year, Quontic was “named the Best Overall Online Bank of 2022 by Forbes, one of America’s Best Banks 2022 by GoBankingRates and one of America’s Best Banks 2022 by Newsweek.”

As mentioned in a release, Quontic is “the adaptive digital bank that empowers its customers financially while embracing their diverse circumstances.” Quontic’s “disruptive” banking platform reimagines traditional banking “with adaptive lending and innovative deposit products that transcend legacy banking inequities.”

Quontic’s mission “to break the system for financial empowerment stands in the face of big banks and proves there is a better and more equitable way to put the customer first.”

The bank focuses “on truly understanding and serving the underdogs, entrepreneurs, gig-economy workers, immigrants, and more with a curated banking experience as opposed to a one-size-fits-all banking approach.”

Quontic is “a privately held company based in New York, New York.”

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