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Stripe’s application for a Merchant Acquirer Limited Purpose Bank (MALPB) charter has been accepted by the state of Georgia’s Department of Banking and Finance, bringing the financial infrastructure giant one step closer to directly accessing payment card networks.
A Stripe spokesperson told PYMNTS that “over the past few years, as Stripe’s business has grown, we’ve significantly expanded the number of banking and other partners we work with,” adding that the Georgia MALPB is a “step follows in this strategic direction.”
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