Groundbreaking Aspiration Zero Launches Today, First-of-its-Kind Credit Card Built to Fight the Climate Crisis

Rhea-AI Summary

Aspiration has launched the Aspiration Zero card, a unique credit card designed to combat climate change. Users can offset their carbon footprint by using the card just once daily, earning unlimited 1% cash back for monthly usage. The card supports tree planting initiatives with each purchase. Aspiration is also merging with InterPrivate III Financial Partners Inc. (IPVF), set to be a publicly traded sustainable finance company. With over 5 million members and 35 million trees planted in the past year, Aspiration aims to empower consumers for sustainable financial practices.

Positive

• Launch of the Aspiration Zero card allowing carbon footprint offset and cash back.
• Over 5 million members and 35 million trees planted in the last year.
• Merger with InterPrivate III Financial Partners Inc. expected to enhance public presence.

Negative

• None.

Using an Aspiration Zero card just once a day allows the average American to fully offset carbon footprint and earn rewards for doing so

LOS ANGELES--(BUSINESS WIRE)-- Aspiration, the global leader in “Sustainability as a Service” products for consumers and companies, announced today the public launch of the Aspiration Zero card, the world’s first credit card built to combat the climate crisis. Anyone interested in the card can now apply at https://www.aspiration.com/zero.

Using an Aspiration Zero card just once a day can offset the average American’s entire carbon footprint — and using it 30 times a month gets you both to carbon zero for the month and unlimited 1% cash back on every purchase you made that month.

How it works is simple: With every purchase made on the Aspiration Zero card, Aspiration will plant a tree and lets users plant an additional tree by rounding up their purchase to the nearest dollar. Two average adult trees offset the daily carbon impact of the average American.

Remaining true to sustainable values, Aspiration has created the physical Zero card so it is primarily made from plant-based material, not plastic.

“Aspiration Zero is more than a credit card — it is one of the only products of any kind that will offset the average person’s entire carbon footprint just by using it once a day,” said Andrei Cherny, Aspiration’s CEO and co-founder. “Millions of Americans are joining the fight against the climate crisis in their home, in their car, in the grocery store. Now, for the first time ever, they can bring that fight to their wallet.”

The official launch of the Aspiration Zero card follows the recent news that Aspiration will become the first sustainable finance company to go public. Aspiration recently entered into a merger agreement with InterPrivate III Financial Partners Inc. (NYSE: IPVF), a publicly traded special purpose acquisition company, which, upon closing, will result in Aspiration becoming a listed company.

Aspiration is one of the fastest-growing financial institutions in America with more than 5 million members. The company has planted more than 35 million trees on behalf of its consumer and business customers over the last 12 months.

Over five million Americans have signed up as Aspiration members, joining one of the largest communities of Conscious Consumers in the world. With the launch of Zero, Aspiration now offers a complete ecosystem of sustainable financial services, from accounts that let customers stop their deposits from being used to fund oil and gas projects to debit cards that let them track the impact of their spending on people and the planet, to investment and retirement accounts that bring sustainable options to all. Aspiration’s technology and tools also provide bundled solutions that help businesses meet the demand for sustainability from their customers and employees by offsetting their carbon footprints and developing co-branded products and services that mitigate climate change. The Company’s corporate partners range from software publisher Intuit to the Los Angeles Clippers to NEU Community, which is launching a community of sustainable homes outside of Austin, Texas, in partnership with Aspiration.

The Aspiration Zero Mastercard® is issued by Beneficial State Bank (“BSB”), member FDIC, pursuant to license by Mastercard International Incorporated (“MCI”). The Aspiration Plus Debit Card is issued by Coastal Community Bank (“CCB”), member FDIC, pursuant to license by MCI. Mastercard is a registered trademark, and the circles design is a trademark of MCI.

About Aspiration Partners, Inc.
Aspiration is a leading platform to help people and businesses put automated sustainable impact into their hands and integrate it into their daily lives. Aspiration has earned the trust of its more than 5 million members by helping them spend, save, shop, and invest to both "Do Well" and "Do Good." Aspiration Partners, Inc. is a certified B Corp. For more information, visit Aspiration.com or Aspiration.com/business. Still and video media assets can be found at https://tinyurl.com/56u3yu3z.

About InterPrivate III Financial Partners Inc.
InterPrivate III Financial Partners Inc., led by Chairman & CEO Ahmed Fattouh, President Nicholaos Krenteras, and Vice Chairman Sunil Kappagoda, is a blank check company whose business purpose is to affect a business combination with one or more businesses in the financial services or fintech sectors. InterPrivate III’s Board of Directors includes globally recognized financial services leaders including: former BankOneChairman, John McCoy; former Lucent and Verifone Chairman, Rich McGinn; Pine Brook founder and former Warburg Pincus Vice Chairman, Howard Newman; and fintech investor Gordy Holterman.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211014005303/en/

Aspiration Investor Relations

investors@aspiration.com

Aspiration Public Relations

Sehrish Sayani

press@aspiration.com

InterPrivate III Financial Partners Inc.

Investor Relations

ir@interprivate.com

InterPrivate Capital

Charlotte Luer

Investor Relations

ir@interprivate.com

Source: Aspiration

FAQ

What is the Aspiration Zero card and how does it work?

The Aspiration Zero card allows users to offset their carbon footprint by using it just once a day, earning unlimited 1% cash back for using it 30 times a month.

How many trees has Aspiration planted?

Aspiration has planted over 35 million trees on behalf of its customers in the last 12 months.

What is the significance of the merger with InterPrivate III Financial Partners Inc. (IPVF)?

The merger will make Aspiration the first sustainable finance company to go public.

How many members does Aspiration have?

Aspiration has over 5 million members in its community.

Is the Aspiration Zero card made from sustainable materials?

Yes, the Aspiration Zero card is primarily made from plant-based materials.