Technology company Save, has partnered with Mastercard to launch its Save Debit Invest Mastercard. Instead of receiving cash back or reward points, the card matches a customer’s spending with their investments and provides dollar-for-dollar matching of portfolio investments for everyday spending with no caps, according to a press release.
“We are not only helping people save, but we are transforming the industry by turning every debit card holder into an investor through everyday spending without any separate effort from our customers or risk to their capital,” Michael Nelskyla, CEO of Save said in the press release. “Further, we look forward to working closely with Mastercard to deliver leading financial services in a smarter, more empowering way.”
The Save Debit Invest Mastercard provides consumers with additional benefits such as contactless payments, identity theft protection, price protection and more. Customers receive notifications of matching investments and will be able to access their card account through a dedicated iOS and Android app.