Koho to Offer No-Fee, Mobile Banking Services to Millennials; Reaches Agreements with Visa, Peoples Trust and Galileo

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Koho, a financial technology (FinTech) company based out of Vancouver, BC, has announced it is working with Visa (NYSE:V), Peoples Trust Company and Galileo Processing to deliver modern, no-fee banking to millennials.

Koho Visa Card and Mobile Application

Koho Visa Card and Mobile Application

With Visa, Peoples Trust and Galileo... we've put together a world class team.

Koho, a financial technology (FinTech) company based out of Vancouver, BC, has announced it is working with Visa (NYSE:V), Peoples Trust Company and Galileo Processing to deliver modern, no-fee mobile banking to millennials. Koho will offer Koho-branded Visa prepaid cards issued by Peoples Trust Company with Galileo providing transaction processing services. 

"With Visa, Peoples Trust and Galileo, I really feel like we’ve put together a world-class team,” says Daniel Eberhard, CEO of Koho. "Visa is a market leader, one of the most recognizable brands in the world and allows our users to use Koho anywhere Visa is accepted worldwide. Peoples Trust Company is a leader in the issuance of prepaid payment cards and Galileo is one of the most technically advanced processors in the world. More importantly, all three organizations have demonstrated a real commitment to our vision to make banking simpler, more affordable and more transparent.” 

Koho aims to do more than just remove fees. Koho also offers automatic goal savings, daily budgets, spending insights and much more.

“We think Canadian consumers need to raise their expectations," Eberhard says. "It’s not just about core functionality, it’s about understanding your financial position and providing the tools to help you improve it. Whether you're saving for travel, a dog or a house, Koho can help you get there faster."

“Visa prepaid cards offer security and the convenience to pay wherever Visa is accepted,” says Chris Ferron, Sr. Account Executive, Prepaid, Visa Canada. "We are pleased to work with companies like Koho and Peoples Trust to bring innovative products to new users.”

“FinTech is an emerging financial services sector that we have been following closely. We are excited to partner with Koho to bring their innovative banking and budgeting alternative to millennials,” says Peter Read, President of Peoples Card Services. “We anticipate this being a very popular product.”

The partnerships are the largest milestone in an already impressive year for Koho, which included a $1 million funding round, the NASDAQ NY Tech Day award for Best FinTech Company, being named one of the 20 hottest startups in Canada and the addition of thousands of users to the launch waitlist.

About Koho Inc. 

Koho is a financial technology company that provides simple, modern banking to Canadians. Koho’s technology allows users to make purchases everywhere Visa cards are accepted and provides access to a suite of other products, such as direct deposit, ATMs, bill pay, free transfers and more. Koho is headquartered in Vancouver, BC.

About Peoples Trust Company

Peoples Trust is a financial institution headquartered in Vancouver, BC, with offices across Canada. The company is active in originating and servicing mortgages, with over $6 billion in assets under administration, and offers very competitive deposit products. Peoples Trust, through its subsidiary Peoples Card 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 products of Visa and MasterCard.

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Daniel Eberhard
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