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April 22, 2021

Unifimoney partners Railsbank to launch Unifi Premier credit card

By Shalini mani

Unifimoney has teamed up with Railsbank to roll out Unifi Premier credit card, which will allow users to redeem their rewards in investment asset of their choice.

The newly launched will allow cardholders to redeem their rewards as bitcoin, gold or equity.

As part of the company’s sustainability commitment, the card is made using recovered ocean plastic with contributions to the Ocean Foundation.

Speaking on the new offering, Unifimoney co-founder and CEO Ben Soppitt said: “By combining simplicity, clear value, technical innovation, philanthropy, and sustainability in a credit card, we hope to help our community maximise their hard-earned money with rewards that invest in their future.”

Points and rewards-based travel credit cards have become increasingly outdated as consumer behaviour shift towards investing in future wealth creation, noted Unifimoney.

The firm said that Unifi Premier credit card has been designed to help high-income professionals to maximise their money through various investment channels.

Railsbank North America COO Dov Marmor noted: “Banking as a Service has led to the reimagination of so many financial products, delivering fairer finances for all. Credit cards were the last hold out, until now. 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.”

The new credit card is slated to be launched in the third quarter of the year. The applications for the card will open to Unifimoney customers on a phased basis.

Separately, CPI Card Group said Unifimoney will offer Second Wave cards for its new credit card.

Second Wave cards, made with recovered ocean-bound plastic, feature an EMV compliant and dual interface. It is designed to help companies address the growing market of environmentally-conscious consumers.

Last year, Unifimoney partnered with CPI to issue contactless credit and debit cards made with recovered ocean-bound plastic.

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