Peoples Trust And Koho Go To Market With Smart Spending Account

by PaymentsJournal 0

Latest News

Peoples Trust is providing prepaid issuing services, marketexpertise and regulatory guidance for Koho

VANCOUVER, British Columbia, April 19, 2017 /PRNewswire/ — Peoples TrustCompany, the leading federally-chartered prepaid card issuer in Canada,has launched with Koho, a Vancouver-basedfintech company, to deliver a modern, mobile, no-fee spending account tomillennials. After a 12-month beta program, Koho now offers Canadians a SmartSpending Account and branded Visa prepaid card issued by Peoples Trust.

PeoplesTrust provides comprehensive issuing services for reloadable and single-loadopen-loop prepaid cards, BIN sponsorship, regulatory expertise and marketguidance to help fintechs like Koho establish,launch and grow card programs across Canada.

“PeoplesTrust’s leadership in prepaid payments has been essential to our successfulroll-out across the country,” said DanielEberhard, Koho’s CEO. “Their deep market knowledgeand regulatory expertise ensures that Koho continues to deliver innovative andrelevant financial services to Canadians.”

“Visaprepaid cards offer security and the convenience to pay wherever Visa isaccepted,” said ChrisFerron, senior account executive, Prepaid, Visa Canada.”We are pleased to work with companies like Koho and Peoples Trust tobring innovative products to new users.”

“Withmore than a decade of experience, Peoples Trust is the most experienced prepaidcard issuer in Canada,” said Peter Read, president ofPeoples Card Services. “We are pleased to provide the financial ecosystemthat power fintechs, like Koho, and card program managers in Canada and the U.S.”

PeoplesTrust, Koho and the Canadian Prepaid Providers Organization will present at the Payments Canada Summit in May about strategies fintechs mustconsider when launching in Canada.

Formore information on card issuing services in Canada, visit peoplescardservices.com.

About Peoples Trust Company

PeoplesTrust is a financial institution headquartered in Vancouver,B.C., with offices across Canada.The Company forms the foundation of Peoples Group and is active in originatingand servicing mortgages, with over $8 billion in assets under administration. Itoffers very competitive deposit products and through its subsidiary PeoplesCard Services, is a pioneer sponsor of prepaid and credit card programs in Canada,and a market leader in both reloadable and non-reloadable prepaid card productsof Visa and MasterCard. For more information, visit peoplescardservices.com.

KohoVisa Prepaid card is issued by Peoples Trust Company pursuant to license byVisa Int.