We’re excited to announce that:
- TabaPay intends to acquire OCC-chartered Transact Bank N.A..
- TabaPay completed a $155 million fundraise, led by FTV Capital
We know you might have some questions, and we’ll take the time to answer the biggest ones here.
What is TabaPay planning to acquire?
TabaPay has announced its intent to acquire OCC-chartered Transact Bank N.A., which is based in Denver, Colorado. We plan to rename the bank to TabaBank N.A. (or just TabaBank in day-to-day communications).
The acquisition requires approval from the Federal Reserve Board (FRB) and the Office of the Comptroller of the Currency (OCC). We’ve been working very closely with the Federal Reserve during the application process and expect the bank to be fully approved in 2026 and operational in 2027.
Why is TabaPay acquiring a bank?
Most of our clients use multiple bank partners to deliver their services. With the creation of TabaBank, we will be able to bring our products together under a single bank and provide clients with a unified merchant account—simplifying the experience for our customers while expanding what we can offer. Just as importantly, owning the bank gives us 100% control over service delivery, allowing us to provide clients with faster, more consistent, and higher-quality service without relying on a patchwork of service providers and partners.
What makes TabaBank distinct from other banks?
With the acquisition of Transact Bank, N.A., TabaBank will operate under an OCC national bank charter, which is often considered the gold standard for U.S. bank charters. The charter provides broad banking powers, access to Federal Reserve services, including FedNow and ACH, and the ability to operate nationally under a single federal regulatory framework without registering for individual state money transmitter licenses. Unlike more limited banking models, TabaBank will be able to support a broad range of banking, payments and money movement activities, all through one bank, giving TabaPay clients greater ease and control to support their payment needs.
Why did TabaBank just complete a fundraise?
With additional funding from FTV Capital, we’ll be able to support an even broader range of clients and use cases by qualifying as a full-service acquirer with our card network partners.
What will change with TabaPay's bank acquisition?
At the moment, nothing about our clients’ day-to-day work with TabaPay or our bank partners will change. When the acquisition is complete, TabaBank will complement TabaPay’s existing partner bank network, providing additional redundancy and expertise for more complex use cases, like account funding and debt repayment and beyond.