Mastercard and Gemini Partnered with WebBank on the Gemini Credit Card
Laura McQuarrie — April 29, 2021 — Lifestyle
References: gemini & designtaxi
Mastercard, Gemini and WebBank teamed up to create the world's first credit card with cryptocurrency rewards, the Gemini Credit Card. The first-of-its-kind credit card gives cardholders the chance to earn 3% back when purchasing Bitcoin or other cryptocurrencies available through Gemini, the New-York based cryptocurrency exchange.
Notably, the crypto rewards program also delivers rewards in real-time. While some credit cards require people to wait a month to claim their rewards, those who hold a Gemini card can get their cryptocurrency reward as soon as the transaction happens. Additionally, the credit card is appealing for having no annual fees.
The Gemini Credit Card is set to be accepted wherever payments can be made with Mastercard and it also gives people the chance to access exclusive offers via other merchants.
Notably, the crypto rewards program also delivers rewards in real-time. While some credit cards require people to wait a month to claim their rewards, those who hold a Gemini card can get their cryptocurrency reward as soon as the transaction happens. Additionally, the credit card is appealing for having no annual fees.
The Gemini Credit Card is set to be accepted wherever payments can be made with Mastercard and it also gives people the chance to access exclusive offers via other merchants.
Trend Themes
1. Crypto Credit Cards - The emergence of crypto credit cards with real-time rewards programs presents an opportunity for financial institutions to attract a new demographic of consumers.
2. Real-time Rewards Programs - The adoption of real-time rewards programs can disrupt the credit card industry and provide a competitive advantage for companies seeking to retain customers and generate loyalty.
3. Cryptocurrency Adoption - As more financial institutions embrace cryptocurrency, there is an opportunity for the industry to innovate new products and services that cater to the growing demand for digital currencies.
Industry Implications
1. Credit Card Industry - The emergence of crypto credit cards represents a disruptive innovation opportunity for the credit card industry to attract new customers, increase loyalty and drive revenue growth.
2. Cryptocurrency Industry - As more financial institutions embrace cryptocurrency, there is an opportunity for the industry to innovate new products and services that cater to the growing demand for digital currencies.
3. Financial Services Industry - The trends of real-time rewards programs and cryptocurrency adoption present an opportunity for the financial services industry to adopt new technologies and business models that can drive growth and increase customer engagement.
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