Challenger bank Dave has announced an agreement with Mastercard to power its debit cards.
In Brief:
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Dave was launched in 2017 to improve the accessibility of the legacy financial system.
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This year it launched Dave Banking, an app-based spending account.
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The app, and the Mastercard debit card, are available exclusively to Dave customers.
What does this mean?
Dave has found that 36% of Americans plan to increase their reliance on digital banking tools as a result of Covid-19. The FinTech says it’s on track to reach a million customers by the end of the year.
