“Can a UK prepaid-card pioneer reinvent itself as a full-charter challenger bank serving the SMB/sole-trader segment that high-street banks ignore?”
Founded 2005 as a prepaid-card operator serving underbanked UK consumers and micro-businesses. Spent 15 years operating as an e-money issuer before earning a full UK banking licence in 2021, unlocking deposit-funded lending. Rebranded to Zempler Bank in 2024 to shed the prepaid-card association and reposition as a challenger SMB bank. Acquired by The Access Bank UK in 2026, becoming an independent subsidiary of the Nigerian banking group.
Cashplus discloses Advanced Payment Solutions Limited (in-house) as its banking provider, according to the Embedded Finance Index 2026.
Cashplus does not disclose a bank charter of its own; its banking services are provided through Advanced Payment Solutions Limited (in-house).
Cashplus processes payments through Cashplus Bank (self-operated).
Cashplus's cards are issued through Advanced Payment Solutions Limited (in-house) on the Mastercard network.
Cashplus's lending and capital products are provided by Cashplus Bank (in-house).
Cashplus connects to bank accounts through Moneyhub, OpenWrks, Plaid and Volt.
Cashplus uses Currencycloud for FX and cross-border payouts.
The Embedded Finance Index 2026 maps 8 layers in Cashplus's stack: Payments / PSP (Cashplus Bank (self-operated)); Banking / BaaS (Advanced Payment Solutions Limited (in-house)); Card issuing (Advanced Payment Solutions Limited (in-house)); Card network (Mastercard); Lending (Cashplus Bank (in-house)); Open banking (Moneyhub, OpenWrks, Plaid and Volt); FX & payouts (Currencycloud); Spend / AP (Cashplus Bank (in-house)).
Cashplus was founded by Rich Wagner and is founded in 2005, headquartered in London, United Kingdom.
Get a read on where your own stack stands against Cashplus 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.