“Can a merchant-embedded stored-value wallet replace credit-driven loyalty programs and become the default savings-and-rewards layer at retail checkout?”
Founded in mid-2021 as a 'save now, pay later' antidote to BNPL, Accrue Savings embedded FDIC-insured savings accounts directly into merchant checkout flows, rewarding consumers for saving toward purchases. After a $25M Series A in early 2022, the company evolved toward a broader digital stored-value wallet infrastructure for retailer loyalty programs, emphasizing low-cost payment rails, refund reconversion, and LTV metrics. A separate entity, Accrue 401k, was spun out to manage Guideline retirement plans excluded from the Gusto acquisition and was acquired by Vestwell in January 2026 — distinct from the core Accrue Savings consumer wallet business.
Accrue Savings discloses Bangor Savings Bank (sponsor bank) as its banking provider, with Bangor Savings Bank as its sponsor bank, according to the Embedded Finance Index 2026.
Accrue Savings does not disclose a bank charter of its own; its banking services are provided through Bangor Savings Bank.
Accrue Savings processes payments through Stripe.
Accrue Savings's cards are issued through Bangor Savings Bank.
The Embedded Finance Index 2026 maps 4 layers in Accrue Savings's stack: Payments / PSP (Stripe); Banking / BaaS (Bangor Savings Bank (sponsor bank)); Card issuing (Bangor Savings Bank); Sponsor bank (Bangor Savings Bank).
Accrue Savings was founded by Michael Hershfield and is founded in 2021, headquartered in New York, NY, United States.
Accrue Savings has raised $29.7M in total (latest round: Series A, January 2022).
Get a read on where your own stack stands against Accrue Savings and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.