New collaboration with Visa and Qube Money offers an innovative, digital payment service for consumers through an online banking app.
Pleasant Grove, Utah — Qube Money, an up-and-coming fintech company, announced a collaboration with Visa to create unique financial solutions to empower consumers to spend and save with purpose. Qube Money is launching a new app in Summer 2020 that combines its digital cash envelope budgeting method with a full, FDIC-insured, online banking suite while utilizing Visa’s secure payment network. The collaboration offers a secure solution for digital consumers and potential cash-only consumers to utilize Qube Money’s financial services with an innovative app/card combination that provides a real-time budgeting and spending system.
The two companies will collaborate across multiple areas including:
- Creating intention at the core of each transaction, making it easy for Americans to make purposeful spending decisions in real-time.
- Engineering a smart debit card with Default ZeroTM technology.
- Building a PR campaign to promote Qube Money through mainstream media outlets.
Qube Money founder and CEO Ryan Clark said, “After months of due diligence, having Visa align their global reputation in support of Qube bodes well for our strength and vision. The new app we are launching this summer will provide a tool to help customers control spending habits in the moment and with confidence.” Company co-founder Shane Walker added, “Since the formation of Qube Money, we have dreamed and planned for this day. Partnering with Visa is a core step to fulfilling our mission to empower people to do ‘money on purpose’.”
The Qube Money app consolidates the banking and budgeting process by allowing the user to set spending limits. Consumers determine how much they want to spend through digital cash envelopes set up by user-selected categories. Expenditure balance reports are automatically updated with each purchase and reported in real-time to the customer. Multiple users can activate the account as set up by the primary user. The app is secured through Visa’s trusted technology.
“Championing the fintech community and our partners to drive the next generation of digital payments is core to our growth strategy at Visa,” said Terry Angelos, SVP and Global Head of Fintech, Visa. “We are excited about our strategic collaboration with Qube Money, which will open new doors for meeting the needs of today’s consumer and continue to contribute to the betterment of the global payments ecosystem.”