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Collaborate with M1, the Finance Super App™, to create the first-of-its-kind Owner’s Rewards Card, offering up to 10% cashback that customers can redeem directly into their investment portfolios.
M1, The Finance Super App™, helps people manage and grow their money with control and automation – for free. Having hit over $6 billion in assets under management, M1 empowers hundreds of thousands of self-directed investors to open accounts and improve their financial well-being through investing, digital checking, and portfolio lines of credit. M1 was named 2022 Best for Low Costs and 2022 Best for Sophisticated Investors by Investopedia.
Investing is now mainstream, and thanks to free apps like M1, it’s available to people of all financial backgrounds. However, there had never been a credit card that would help people maximize their investments through passive spending–until M1 had an idea.
M1 wanted to create a credit card that would integrate with cardholders’ portfolios and help cardholders grow their wealth, long-term. Their idea was to let cardholders earn cashback every time they spent money on the Owner’s Rewards Card at an eligible retailer they had invested in. For example, if a cardholder had invested in stock at Lululemon in an eligible M1 Invest account, and then spent $200 at Lululemon on their M1 card, that cardholder would earn 10% cashback (or a cool $20) and then get to reinvest that back into their stock portfolio.
M1 also wanted to ensure that the user experience would be seamless and fully integrated into their current Super App. As a one-stop-shop for all things consumer finance, M1 cardholders needed to be able to oversee their portfolios and manage their cards all in one place.
M1 chose Deserve’s Consumer Card Platform because we could deliver all of the above and more. The Consumer Card Platform is a digital-first, mobile-centric, and API-driven Credit Card as a Service (CCaaS) platform to help industry innovators like M1 create completely custom, competitive, and scalable credit card programs. With our customizable APIs, embedded user experience, unique underwriting, servicing, portfolio analytics, and end-to-end compliance, M1 was able to build the card the world needed.
In October 2021, M1 and Deserve launched the Owner’s Rewards Card. With Deserve’s cloud-based Consumer Card Platform, M1 was able to build a completely customized rewards program that was compatible with cardholders’ portfolios.
With Deserve’s Consumer Card Platform, the Owner’s Rewards Card also delivers:
As the first of its kind, the M1 Owner’s Rewards Card is the only credit card on the market to help money-savvy customers maximize their portfolios and easily build their wealth. Upon launch, 90,000 M1 customers joined the waitlist, affirming M1’s mission to create a card their cardholders will be excited to use. Featured in Business Insider, CNBC, Forbes, Bankrate, and more, the Owner’s Rewards Card made a huge splash, lauded for its innovative rewards structure that empowers cardholders to think like owners.
With our platform, M1 was able to integrate our flexible APIs into their app and create a fully seamless, easy-to-use, cardholder experience. With the M1 app, cardholders can easily see how much cashback they can earn when spending with select brands, decide where and how to reinvest their cashback, and manage other essential card functions. And with our flexible underwriting engine, M1 created a custom underwriting configuration, designed to maximize approvals through deep-tested artificial intelligence and machine learning (AI/ML) models.
As we say at Deserve, “You bring the vision. We do the rest.” Check out our website today to learn more about how your business can launch a credit card with Deserve’s Consumer Card Platform in as little as 90 days!