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New gamification appearance are advancing to Walmart MoneyCard, the retailer’s prepaid agenda issued by Green Dot.
The program, alleged Prize Savings, is an accomplishment to animate holders to accumulate added money in savings.
The firms accept there’s a “savings crisis” in the US, which reportedly prompted the barrage of the program, but it could additionally alongside admission assurance with Walmart MoneyCard, which ultimately helps both the banker and the issuer.
The affairs uses banknote prizes to incentivize savings. The affairs enters MoneyCard barter into a account sweepstakes for extenuative funds. Users can use the MoneyCard app or website to alteration money from their agenda antithesis into the MoneyCard Vault, a chargeless accumulation feature. For every dollar they admission into their Vault, they accept one admission in a sweepstakes, which draws 500 winners for banknote prizes per month.
Indirectly, the affairs incentivizes users to appoint added with their prepaid card, which could alongside animate usage.
Prepaid cards such as this are aloof one allotment of the abundant above payments ecosystem, which has developed added circuitous in the aftermost several years and now includes issuers, merchants, processors, and more.
John Heggestuen, chief analysis analyst at BI Intelligence, Business Insider’s exceptional analysis service, has aggregate a abundant address on the payments ecosystem that drills into the industry to explain how a ample ambit of affairs are processed, including prepaid and abundance cards, as able-bodied as absolute which types of companies are in the best and affliction position to capitalize on the latest industry trends.
Here are some key takeaways from the report:
In full, the report:
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The best is yours. But about you adjudge to access this report, you’ve accustomed yourself a able advantage in your compassionate of the payments ecosystem.
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