SmartyPig, the leader in goal-based savings, today unveiled the SmartyPig Cash Rewards Prepaid MasterCard.® The SmartyPig Cash Rewards Prepaid MasterCard provides significant value for cardholders with no monthly maintenance, customer service or reload fees, while providing the opportunity to earn up to 10 percent cash back at more than 9,000 select U.S. retailers.
With the SmartyPig Cash Rewards Prepaid MasterCard, SmartyPig online savings account holders now have the option to load funds anytime through their online account onto a prepaid MasterCard that can be used anywhere Debit MasterCard is accepted. Cardholders earn automatic cash back when they use the card to make purchases at select retailers across the U.S. The cash-back savings that are earned can then be transferred back to a SmartyPig savings account to help savers reach their goal faster or can be left on the SmartyPig Cash Rewards Prepaid MasterCard to use toward future purchases.
"With consumers today looking for payment tools that can help them with their daily finances, provide added value, and avoid growing bank fees and high-interest credit cards, the SmartyPig Cash Rewards Prepaid MasterCard is a great solution," said Bob Weinschenk, CEO, SmartyPig. "Now our customers have even more flexibility in how they redeem the funds they put toward their savings goals and are able to earn valuable rewards on their everyday spending, as well."
The SmartyPig Cash Rewards Prepaid MasterCard was developed in response to requests from SmartyPig savers wanting additional redemption options with added flexibility, as well as ways to make everyday spending more financially rewarding. The SmartyPig Cash Rewards Prepaid MasterCard provides both - acceptance anywhere Debit MasterCard is accepted and cash-back savings on everyday purchases. All without the typical load and monthly fees seen with most other prepaid cards, the high fees being added on to standard bank accounts and the trappings of credit card debt.
"More than ever, we know that consumers are increasingly looking for ways to get more from the financial services industry, whether it be from the payment products in their wallets or from tools to help them be more financially responsible," said Neil Dugan, Group Head, Global Prepaid Solutions, MasterCard Worldwide. "It is our commitment to provide a flexible prepaid model that enables innovative partners like SmartyPig to address consumers needs while also driving their own business objectives."