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October 16, 2020

Mastercard and Stride bring portable benefits to gig and independent workers

By Mohamed Dabo

Mastercard has announced a new strategic partnership with Stride, a major portable benefits platform for independent workers, to provide customers with the ability to offer cardholders in the US access to simple, affordable coverage plans.

This marks the first time that differentiated health, dental, and vision benefits will be made available via a payments network.

Among the first of Mastercard’s customers to use Stride’s Portable Benefits Platform are African American-owned fintech Mobility Capital Finance (MoCaFi) and Jobble, a community of over 2 million on-demand workers spanning the delivery, warehouse, grocery and restaurant fields, among others.

Partnership provides access to Stride’s Portable Benefits Platform

MoCaFi and Jobble cardholders, as well as other Mastercard participating partners, will have access to Stride’s Portable Benefits Platform, which provides:

  • A fully stocked benefits marketplace: Access to affordable, quality health insurance, low-cost dental and vision insurance, discounted telemedicine and prescriptions, income and expense management tools, and tax withholding estimation and guidance, in addition to local deals and discounts.
  • A customizable, configurable platform: The ability to tailor benefits programs for specific users by adding their own unique perks and benefits, presenting their own tools and services, and offering different benefits packages based on loyalty, engagement, productivity, and other criteria.
  • Year-round concierge access: Continuous access to Stride’s award-winning member experience team, who can help with everything from benefit selection and enrollment to questions about invoices and payments.

Benefits range from insurance, to financial management, education and more

Additionally, beginning in 2021, enabled Mastercard cardholders will be able to use their cards on Stride’s Portable Benefits Platform, making it easier and more rewarding for their users to pay for their benefits.

This partnership is an extension of Mastercard’s commitment to financial inclusion, and the first step in the company’s broader strategy to provide gig and independent workers with a wide range of benefits choices – from insurance, to financial management, education and offers.

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