Mercury Financial widens customer base to over 1m accounts in Q4 2021

Source: Mercury Financial

Mercury Financial, a financial inclusion technology provider, announced today it reached over one million accounts in the fourth quarter of 2021, marking an important milestone in the Company’s growth. The Company now extends more than $3 billion in credit access to the near prime-market in its continued pursuit for greater financial inclusion.

“We’re certainly making a difference. Our momentum this year brought a tremendous and positive impact to the lives of so many deserving Americans,” said James Peterson, CEO of Mercury Financial. “We’re on a mission to empower our customers with access to a premium credit experience and encourage positive credit building behaviors through technology. I’m very proud of our team’s dedication to expanding financial inclusivity in 2021, and we’re poised to reach a million more in the new year.”

There are 36 million non-prime credit borrowers in the United States and Mercury® Financial is prepared to meet the market’s needs. Driven by its mission, the company provides credit access, rewards, and a premium digital experience to these hard-working Americans, who may not have it otherwise. In 2021, its customers redeemed more than $10 million in rewards through the Mercury Mastercard®, Free Spirit® Points Mastercard®, and Free Spirit® Points Plus Mastercard®.

“Because we serve the near prime market, many of our customers lack the same credit opportunities as others. For one reason or another, they’re left out of the credit system,” said Marge Hannum, chief risk officer of Mercury® Financial. “Limited credit access impacts more Americans than most people may think. We hope our milestone will drive awareness for this important issue and the necessity for greater financial inclusion in our country.”

Another component of the company’s service is to make payments more seamless and drive awareness of the benefits of responsible credit management tools.

Mercury® Financial is investing in its digital platform and offerings as part of its scaling for a broader customer base, Recently, in response to the near-prime market’s need for contactless payment accessibility, the Company launched mobile wallet and tokenization capabilities to make in-store, in-app and online payments at participating merchants from their Apple®, Google®, or Samsung® smart devices.

To continue the growth and delivery of its mission, Mercury® Financial will further develop its digital products and strategic partnerships into the new year.

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