Vast Bank, a federally regulated national bank, has announced a multi-year partnership with fintech company Cliq. Under this agreement, Cliq will serve as a Third-Party Payment Processor (TPPP), providing the infrastructure to handle a wide range of transactions. The scope of services includes standard ACH payments, alternative payment methods, cryptocurrency and stablecoin solutions, and the issuance of business debit and prepaid cards.
This move highlights the enduring trend of Banking-as-a-Service (BaaS) and the delegation of operational functions to specialized fintech partners. For Vast Bank, this allows for product scaling without the need to invest in complex proprietary payment infrastructure, particularly in the fast-growing crypto payment segment. For Cliq, it serves as validation of its maturity as an infrastructure player capable of serving regulated financial institutions.
Why it matters.
This partnership underscores a significant shift in the payments landscape where the boundary between banks and fintechs is blurring. The key asset is no longer just the banking license, but the quality of the payment infrastructure and the speed of adopting new payment methods. It signals that regulators are increasingly accepting crypto and stablecoin models when they are integrated into the legal banking framework through reliable partners.
Who is affected and how
PSPs and Banks: The TPPP model is gaining traction as banks seek flexible partners offering "all-in-one" solutions, from ACH to crypto. This creates competition for traditional processors but opens niches for specialized solutions. PSPs working with banks must anticipate that their clients will actively seek external partners to expand functionality.
Merchants and Marketplaces: New TPPP partnerships may expand payment method choices for end-users. If Vast Bank offers corporate clients access to crypto payments via Cliq, it could impact the B2B payment ecosystem. Marketplaces and large merchants are increasingly considering stablecoins as a tool for cross-border settlements, potentially lowering friction and costs.
Regulatory Context: Partnering with a federally regulated bank emphasizes that crypto and stablecoin solutions are gradually being integrated into the legal banking perimeter. For fintechs, this is a signal that such models are permissible when backed by a solid banking partner, reducing regulatory uncertainty for infrastructure providers.
Bottom line
The Vast Bank and Cliq deal confirms that infrastructure quality and speed of innovation are now more critical than traditional banking barriers. As banks outsource complex processing to specialized fintechs, the market is moving toward a more modular and competitive payment ecosystem.
How do you see the role of TPPPs evolving in the next five years?
Source: Finextra, 15 Oct 2026
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