KOHO and Mastercard collaborate to offer new product to Canadians

By Edlyn Cardoza

KOHO Financial Inc. recently announced that it has partnered with Mastercard to offer improved services and an all-around better customer experience to its clients. With one simple mission: to find better financial solutions for all Canadians, this new partnership will help KOHO get one step further to reaching that goal. The partnership, announced recently, will mean an improved service for their users, with fast, flexible, and more convenient payments and offer an all-round better customer experience.

The KOHO Mastercard is designed to provide better financial solutions to meet the everyday spending needs of Canadians. With all the same features KOHO customers are used to, including no fees, high-interest rates, and cash back, a Credit Building feature, and smart ways for users to make the most of their money, there are a ton of reasons why over 650,000 Canadians have already signed up to the Company, and the new KOHO Mastercard is another one to add to the list. The KOHO card will now be more widely accepted across more than 24 million locations in over 210 countries. The KOHO Mastercard can be used by cardholders everywhere that Mastercard is accepted.

“Our goal for KOHO is simple: we want to make the lives of Canadians easier by giving them better ways to spend and manage their money,” said Daniel Eberhard, CEO and Founder of KOHO Financial Inc. “Our partnership with Mastercard will help us hugely along that journey, by providing a new and improved solution to spending that will still offer all the same benefits our customers have grown to know and love.”

“Canadians have diverse needs and expectations about their experiences with brands, especially now with our lives being more digital than ever,” said Sasha Krstic, President of Mastercard in Canada. “We’re thrilled to partner with KOHO to offer a solution that meets and exceeds the growing needs of Canadians to use their money where or how they want.”

KOHO’s product roadmap is always evolving to meet everyday Canadians’ evolving financial needs. Since 2020 the company has launched simple and affordable products that always put the users at the forefront and help to democratise access to wealth creation, like:

• Cover: An overdraft feature that gives users a buffer for everyday spending.
• Instant Pay: Users can access their pay daily rather than bi-weekly.
• Earn Interest: A KOHO spending & savings account can earn 1.2% interest.
• Credit Building: Users can build their credit history by paying a $7 monthly subscription.