SmartyPig, which positions itself as the “ leader in online social banking, helps customers save for specific savings goals while earning high interest, as well as cash back savings on everyday purchases,” has taken the logical step of adding POS transaction capabilities through a prepaid card. This card will leverage a network of over 9,000 U.S.merchants who have agreed to offer consumer discounts up to 10% to consumers using the cards.
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.
The card has no monthly maintenance, customer service or reload fees.
See the original press release at: http://www.businesswire.com/news/home/20101130005703/en