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PayPerks Blog


Poets and Quants Names PayPerks to Top MBA Startups

PayPerks is proud to be included in Poets and Quants’ first annual list of top MBA Startups. In good company, to boot: congrats to our friends at Warby Parker, SoFi, Rent the Runway, Blue Apron, FSA Store and Olapic as well! http://poetsandquants.com/2013/11/18/poetsquants-top-100-mba-startups

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Federal Reserve Bank of Philadelphia Publishes White Paper on PayPerks

This past year has been filled with many exciting milestones for PayPerks, one more exciting that the next.  Nothing does a better job of putting those successes into context than this white paper, released today by the Federal Reserve Bank of Philadelphia's Payments Cards Center , about PayPerks. The genesis of this paper began in July 2011 when Susan Herbst-Murphy , the author of the piece, learned about PayPerks at a conference on the government’s use of prepaid cards. From there, she…

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My First PayPerks Fountain Jump

Jumping in the Washington Square Park fountain has become a PayPerks way of documenting milestones. The team jumped in last year (see photo) to celebrate some early milestones, and the year before that too when we were just getting going. For our third team jump, and my first (since I joined the PayPerks team this past spring), we set our sights on hitting 100,000 PayPerks users as "the next big thing." We only hoped we'd reach our goal before they turned the water off for the winter…

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Paybefore praises PayPerks model in gamification article

We were excited to see how many complimentary things Paybefore's recent article "Gamification: More than Just Fun and Games" had to say about PayPerks. The article explains how gamification can help consumers overcome some major barriers to trying a new financial service product—fear, distrust and lack of interest—and goes on to suggest that PayPerks' usage rewards takes gamification to a new level by incenting ongoing product utilization. Hard to believe it's been more than 2 years now since…

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AGA reports prepaid card savings

Nice shout-out for PayPerks in the Association of Government Accountants' recent report on the cost savings generated from transitioning from checks to prepaid cards: “We’re now beginning to see a focus on using the prepaid platform to drive financial capability for cardholders, as in the recent announcement of the rollout of PayPerks in the Treasury program,” Andrew Gillen of MasterCard said. “It will be interesting to see if state governments follow suit.” In addition to ease of use with…

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CFSI Interview with Arlyn

Arlyn had a great talk with Kathleen Smith Shelton of the Center For Financial Services Innovation (CFSI) about some exciting milestones of this past year, how PayPerks defines success, and the advice for innovators breaking into underserved markets. Kathleen: Do you have any thoughts for those just starting to look for ways to serve the underbanked markets? Arlyn: My advice to entrepreneurs is always focus on solving problems -- not just creating a business. … That’s the best place to…

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Paybefore and Bank Credit News highlight PayPerks’ successful launch with Direct Express

Many thanks to Andrew Gillen of MasterCard for touting some of our recent successes with PayPerks on the Direct Express card. Articles in Paybefore and Bank Credit News highlight PayPerks as an important tool for driving meaningful and beneficial changes in financial behavior. The articles also cite some comments from our Facebook page  which illustrate PayPerks' warm reception from Direct Express cardholders: “I use PayPerks and it is a very good way to learn how to use your Direct…

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Core Innovators Mega Challenge - PayPerks Wins!

The award was determined by a live vote of hundreds of financial services executives and fellow innovators at the CFSI Underbanked Financial Services Forum . While it ’ s always encouraging to be recognized, this award was particularly meaningful as we were identified in the company of other start-ups that are focused on solving the unique pain points of the emerging middle class. It’s an honor to share the stage with other great companies such as LendUp and Mitek . The Mega Challenge kicked…

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The weird thing about momentum

Last week, I had the honor of sitting on a panel about the future of cash with people like Hikmet Ersek (the CEO of Western Union) and Larry Summers. While I spent most of the 90 minutes respectfully disagreeing with the majority of the panelists (no big deal…it’s not intimidating at all to publicly disagree on the future of cash with the Former Secretary of the Treasury), there was something Mr. Summers said that I couldn’t have agreed with more: “While things take longer to happen than you…

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PayPerks turns government payments into a teachable moment

In today’s American Banker, CFSI’s President and Chief Executive Jennifer Tescher extols the potential virtues of government benefit cards as a means toward financial capability among the un- and underbanked. While Team PayPerks lives and breathes this stuff, two of the facts referenced surprised even us: In January 2013 alone, 62 million people received \$70 billion in Social Security and disability benefits States pay out nearly \$13 billion of food stamps benefits annually to 23 million…

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