August 2022

A Case Study: The Owner’s Rewards Card by M1, the Finance Super App™


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.

The Challenge

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. 

The Solution

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:

  • 10%, 5%, or 2.5% in cashback rewards when cardholders shop with (and invest in) 70+ popular brands, including Starbucks, Nike, Tesla, Amazon, Airbnb, Apple, Tesla, United Airlines, Best Buy, Lululemon, Whole Foods, Target, and more*
  • 1.5% cashback when cardholders shop with other brands outside their portfolios
  • Visa Signature benefits, including Visa® Zero Liability
  • Advanced security for cardholders

The Results

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!

* 1.5%-10% credit card cash back rewards earned on eligible purchases are subject to a maximum of $200 cash back per calendar month. Review card disclosures for more details. The Owner’s Rewards Card by M1 is Powered by Deserve and issued by Celtic Bank, a Utah-Chartered Industrial Bank, Member FDIC.
M1 refers to M1 Holdings Inc., and its affiliates. M1 Holdings is a technology company offering a range of financial products and services through its wholly-owned, separate but affiliated operating subsidiaries, M1 Finance LLC and M1 Spend LLC.  M1 Plus is an annual membership that confers benefits for products and services offered by M1 Finance LLC and M1 Spend LLC.
All investing involves risk, including the risk of losing the money you invest. Brokerage products and services offered by M1 Finance LLC, Member FINRA/ SIPC. Credit Card not available for US Territory Residents. Review Cardholder Agreement and Rewards Terms for important information about the Owner’s Rewards Card by M1. All product and company names are trademarks™ or registered® trademarks of their respective holders. Use of them does not imply any affiliation with or endorsement by them.

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