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Kora Launches a Student Virtual Card with Cash Back Rewards Powered by Cardlytics
Rhea-AI Impact
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Rhea-AI Sentiment
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Rhea-AI Summary
Kora, a fintech serving college students, has launched the Kora Rewards program in partnership with Cardlytics. Users can earn up to 10% cash back when shopping with the KoraCard at various brands. This feature aims to enhance financial management for students, who have limited options for financial rewards. The Kora app also includes KoraCoach for financial education and KoraCash for flexible financing between $25 and $2000. This initiative aligns with Kora's mission to improve financial literacy among students.
Positive
Launch of Kora Rewards program enabling cash back up to 10%
Partnership with Cardlytics enhances rewards experience
Kora app includes financial literacy tools and flexible financing options
Negative
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Kora Rewards by Cardlytics is the latest money-saving feature built right into the Kora app.
CHICAGO--(BUSINESS WIRE)--
Kora, a financial technology company exclusively serving college students, announced the launch of its Kora Rewards program powered by Cardlytics1. By partnering with Cardlytics, a digital advertising platform that provides cash back rewards to consumers, Kora users can now earn automatic cash back rewards of up to 10% when they shop thousands of local and national brands with the all-virtual KoraCard2.
“We’re building Kora to be the premier money app for Gen-Z college students, meeting them where they’ve traditionally been underserved. Students, particularly those new to managing their own finances, have few options to be rewarded for their spending. The Kora Rewards program will bring exciting offers and ways to save money, right into the Kora app,” said Hao Liu, CEO of Kora.
By partnering with Cardlytics, Kora is providing its cardholders with an automatic, engaging rewards1 experience. Kora cardholders simply pay for products with their KoraCard as they normally would and the cash back rewards1 they earn automatically appear in their Kora app. Members can also explore local and national offers right on the Kora app. As an additional convenience, KoraCard is compatible with Apple Pay® and Google Pay™ mobile wallets.
“There is a real need to provide college students with tools that promote healthy financial habits,” said Farrell Hudzik, EVP, Financial Institutions for Cardlytics. “Combining Kora’s unique demographic and mission-focused business with Cardlytics’ cash back offers1 will positively impact these students by putting money back in their accounts for purchases they make everyday. Our partnership with Kora is a perfect extension of our company’s purpose of delivering real value to people through an engaging rewards platform, and we are thrilled to watch this space grow.”
Kora Rewards1 is the latest money-saving feature built right into the Kora app. Within the Kora app, college students can also access KoraCoach1, a suite of financial literacy, expense tracking and money insight tools tailored for students; as well as KoraCash1, a flexible financing option between $25 and $2000 that can be paid back on terms that students choose.
“The launch of Kora Rewards1 makes the Kora app a no-brainer for any college student out there,” said Liu. “Students now have an app made just for them that lets them track their expenses, shop online or in-store, and earn cash back rewards1.”
About Kora
Kora is a fast-growing financial institution dedicated to serving college students and helping them achieve a better financial future. In 2021, Kora was founded by a team that has been working for years to increase student access to financial products, financial literacy, and developing an app-first experience that will coach the next generation of college students to graduate with a healthy financial outlook. Learn more about Kora at www.koramoney.com or your preferred app store.
About Cardlytics
Cardlytics (NASDAQ: CDLX) is a digital advertising platform. We partner with financial institutions to run their rewards programs that promote customer loyalty and deepen relationships. In turn, we have a secure view into where and when consumers are spending their money. We use these insights to help marketers identify, reach, and influence likely buyers at scale, as well as measure the true sales impact of marketing campaigns. Headquartered in Atlanta, Cardlytics has offices in London, New York, Los Angeles, San Francisco, Austin, Detroit, and Visakhapatnam. Learn more at www.cardlytics.com.
About MetaBank®
MetaBank®, N.A., a national bank, is a subsidiary of Meta Financial Group, Inc.® (Nasdaq: CASH), a South Dakota-based financial holding company. MetaBank strives to remove barriers to financial access and promote economic mobility by working with third parties to provide responsible, secure, high quality financial products that contribute to the social and economic benefit of communities at the core of the real economy. MetaBank works to increase financial availability, choice, and opportunity for all. Additional information can be found by visiting www.metafinancialgroup.com.
1This optional offer is not a MetaBank product or service.
2The Kora Visa® Prepaid Card is issued by MetaBank®, N.A., Member FDIC, pursuant to a license from Visa U.S.A. Inc. Card may be used everywhere Visa debit cards are accepted. No ATM access.
