The Bancorp expands partnership with Block, adding debit cards for Cash App customers

The Bancorp has updated its master services agreement with Block to include a new card issuing agreement for debit and prepaid cards aimed at Cash App users, starting in 2026.

The agreement has an initial duration of five years, and The Bancorp plans to keep investors updated on the initiative's progress.

Following the announcement, The Bancorp's stock rose slightly by 0.3%, while Block's stock increased by $0.03, reaching $68.70 during after-hours trading.

Recommendation Rating: Positive Outlook

The Bancorp (NASDAQ:TBBK) has made a significant update to its master services agreement with Block (NYSE:XYZ) by introducing a card issuing agreement for providing debit and prepaid cards for Cash App users, as announced on Monday.

This addition is set to commence in 2026, with a preliminary duration of five years. The company will keep investors informed with key updates as the initiative unfolds, according to their recent filing.

In after-hours trading, shares of The Bancorp saw a slight increase of 0.3%, while Block's stock rose by $0.03, reaching a price of $68.70.