Seltz is Set to Launch Its Unique Credit-Like Debit Card in the US
Niko Pajkovic — August 15, 2022 — Business
References: seltzpay & fintechfutures
Fintech startup Seltz has announced that it will be launching its signature subscription-based debit card in the United States. The unique debit card aims to provide people with a rewards program that operates similarly to credit cards. For example, the company has said the US version of the debit card will offer users up to 5% cashback or crypto on both in-store and online purchases.
Other notable features of the Seltz debit card include paycheque depositing, fraud protection, expense management tools, secure cloud infrastructure, global card coverage, and split payments. In addition, the debit card will be compatible with ATMs around the world. According to the company, the Seltz debit card will also offer users purchase protection for up to $1,500.
Image Credit: Seltz
Other notable features of the Seltz debit card include paycheque depositing, fraud protection, expense management tools, secure cloud infrastructure, global card coverage, and split payments. In addition, the debit card will be compatible with ATMs around the world. According to the company, the Seltz debit card will also offer users purchase protection for up to $1,500.
Image Credit: Seltz
Trend Themes
1. Rewards-based Debit Cards - Seltz's subscription-based debit card with rewards program is an innovation opportunity for the banking industry to provide an alternative payment solution that provides a credit card-like reward system.
2. Cashback for Debit Cards - The Seltz debit card's cashback feature is an innovation opportunity for businesses to provide additional incentives for customers who use debit cards rather than credit cards for their purchases.
3. Expense Management Tools for Debit Cards - The Seltz debit card's expense management tools are an innovation opportunity for the financial sector to provide better tracking and budgeting solutions for customers using debit cards.
Industry Implications
1. Banking - Seltz's subscription-based debit card and rewards program is a disruption opportunity for the banking industry to provide alternatives to traditional credit card reward programs.
2. Retail - The Seltz debit card's cashback feature is an innovation opportunity for retail businesses to incentivize customers to use debit cards for purchases rather than credit cards.
3. Financial Technology - The Seltz debit card's expense management tools and secure cloud infrastructure are innovation opportunities for the fintech industry to provide better budgeting and security solutions for debit card users.
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