Unifimoney is launching a new credit card that allows members to redeem their rewards as Bitcoin, gold, or equity. The Unifi Premier Visa Signature will debut later in 2021 with a phased rollout to Unifimoney customers. Here’s what you need to know:
Unifimoney to Launch Unifi Premier Visa Signature
Unifimoney is a leading fintech and investment platform that seamlessly integrates a high yield checking account, credit and debit card, and investing through its mobile app. Now, the company is taking its money management portfolio even further through the launch of the Unifi Premier Visa Signature.
The new Unifimoney credit card will launch in the third quarter of 2021, with current customers receiving preference over new members. A cash back rewards card, the new product will be the first of its type by a Fintech company competing directly with legacy Premium Travel Rewards cards.
The Unifi Premier Visa Signature is a joint venture between Unifimoney and Railsbank, the leading global Banking-as-a-Service (BaaS) platform. Beyond statement credits and the usual redemption methods, cardholders can opt to redeem their cash back rewards in three unique ways:
- Bitcoin cryptocurrency
- Gold (with the option of other precious metals being considered for future rollout)
- Equity investment contributions
The Unifi Premier credit card will feature the typical Visa Signature perks and protections, including Visa Luxury Hotel Collection access, ID theft protection, auto rental collision damage waiver, and more. The card will also help the environment, as it is produced from recovered ocean plastic with contributions to the Ocean Foundation.
Fintech Firms Continue to Upset the Traditional Credit Card Market
The Unifi Premier Visa Signature launch is the latest in a growing trend of fintech companies disrupting the traditional credit card marketplace. Speaking about the card’s launch, Ben Soppitt, Co-Founder and CEO of Unifimoney, said the Unifi Premier Visa Signature is a game-changer in how consumers view – and use – their credit card:
“High-income professionals’ ability to efficiently manage and grow their wealth is limited by the need to manually work with multiple services and apps. To solve this problem, we created a comprehensive money management app to support the wealth ambitions and values of forward-thinking professionals who care about their financial well-being,” he said. “By combining simplicity, clear value, technical innovation, philanthropy, and sustainability in a credit card, we hope to help our community maximize their hard-earned money with rewards that invest in their future.”
Dov Marmor, Chief Operating Officer, Railsbank, North America, also sees the new card as pioneering in the credit card space:
“Banking as a Service has led to the reimagination of so many financial products, delivering fairer finances for all. Credit cards were the last holdout, until now,” he said. “Railsbank built Credit Card as a Service (CCaaS) to help companies such a Unifimoney bring their ideas to life with a turn-key, modern infrastructure, hassle-free. Ben and his team have a depth of experience and a wharf of amazing ideas to share with the world. We’re super excited to partner and pioneer!”
Unifimoney is an investment and money management platform. Its mission is to help build and protect the long-term wealth of millions of young professionals by taking out the effort and manual labor required to manage money optimally and automating the often repetitive and boring tasks involved.
Featured photo by Pierre Borthiry on Unsplash
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