Urban One, The Largest Black Owned Media Company In The U.S., Goes Live With ONE VIP, A Digital Financial Solution For Black Consumers

Rhea-AI Summary

Urban One launched ONE VIP, a digital financial solution tailored for Black consumers, on October 22, 2020. This first-of-its-kind product includes a prepaid debit card with an associated rewards program, allowing users to manage their accounts online or via a mobile app. Cardholders can earn points for purchases and contribute to the Urban One Community Works Foundation. Urban One pledges to donate $10 per account quarterly for active users. This initiative aims to empower the Black community and support charities focused on criminal justice reform and LGBTQ issues.

Positive

• Launch of ONE VIP, the first financial solution specifically for Black consumers.
• Includes a rewarding loyalty program encouraging spending with Black-owned businesses.
• Urban One commits to donating $10 quarterly per active cardholder to charitable causes.

Negative

• None.

SILVER SPRING, Md., Oct. 22, 2020 /PRNewswire/ -- Today, Urban One Inc., the largest Black-owned media company in the U.S., launched ONE VIP, a digital financial solution with a rewards product designed with Black consumers in mind.  ONE VIP provides a digital debit account with a ONE VIP Rewards program. It is the first live financial solution for Black consumers and urban consumers.  ONE VIP designed the program for consumers who are currently banked and financially include those who are presently unbanked, with a contemporary digital financial solution. 

"We are excited to take the lead and be the first African American owned company to provide this kind of financial solution for Black consumers," said Jon Round, Urban One's Senior Vice President of Financial Services.  "This digital financial solution and rewards program allows us to provide access, flexibility, and empowerment to our consumers, and helps to circulate black dollars in the black community."

ONE VIP is a financial product designed to support the Black community directly.  Cardholders can manage their account online or with the ONE VIP mobile App and make cash withdrawals, retail and online purchases with the premium, matte Black prepaid debit card, that rewards them for a life well spent.  Customers can maximize their spending power and earn points on most purchases.  They can also earn additional points from select merchants as part of a Buy Black initiative that incentivizes them to shop with 25 Black-owned brands.  Points can be redeemed either for cashback or used as a donation to the Urban One Community Works Foundation (U1CW).  U1CW will use the donations to support selected charities supporting people of color such as The Innocence Project for criminal justice reform, the National Black Justice Coalition serving LGBTQ/SGL communities, and Howard University, recirculating Black dollars in the Black community.

Additionally, Urban One will donate $10 per account per three-month period for every cardholder who maintains a ONE VIP account for three consecutive months and meets loading/spending requirements. 

Alfred C. Liggins III, Chief Executive Officer, Urban One, commented, "For 40 years, Urban One has led the way, representing Black culture in the USA, seeking to inform, inspire and entertain Black America.  Today, I'm proud that Urban One leads the way again with another first; ONE VIP, a current financial product intrinsically designed to address the very needs of our audience. This marks the first step by Urban One to financially include and empower, with financial products designed for the Black community."

ONE VIP is a digital financial account with a premium, matte Black prepaid debit card.  Its salient features include the ability to:

• Apply and manage the account online or with the ONE VIP mobile App.
• Withdraw cash at ATMs, make purchases online or at retail locations using the card, or by adding the card to Mobile Wallets and pay by phone.¹ Mobile Wallets supported; ONE VIP, Apple, Android, Samsung, Garmin, and Fitbit.
• Add funds by direct deposit, or ACH from a bank, or by taking a photo of a check using the ONE VIP mobile app, or by depositing cash at select retail locations.²
• Set-up alerts and notifications, control card settings, either through the website or mobile app.
• Participate in the innovative contemporary ONE VIP Rewards Loyalty Program.
• Benefit from additional point reward options and discounts when using the card. Merchants include some of the most popular global brands from popular rideshares to entertainment subscriptions, to fashion, food/grocery, and beauty.³

Consumers can sign up for a ONE VIP account at www.onevip.com. Subject to approval. You must be at least 18 years old and reside in the US or its territories to apply.  Transaction fees and terms and conditions may apply.  MORE DETAILED INFORMATION AVAILABLE ON REQUEST. 

https://www.instagram.com/onevipcard/
https://twitter.com/onevipcard
https://www.facebook.com/onevipcard

The ONE VIP Visa Prepaid Card is issued by Stride Bank, N.A., Member FDIC, pursuant to a license from Visa USA Inc.  Deposits are FDIC insured up to $250,000 by Stride Bank.

Urban One, Inc. (urban1.com), together with its subsidiaries, is the largest diversified media company that primarily targets Black Americans and urban consumers in the United States. The Company owns TV One, LLC (tvone.tv), a television network serving more than 59 million households, offering a broad range of original programming, classic series and movies designed to entertain, inform and inspire a diverse audience of adult Black viewers. As of June 2020, Urban One currently owns and/or operates 61 broadcast stations (including all HD stations, translator stations and the low power television stations we operate) branded under the tradename "Radio One" in 14 urban markets in the United States. Through its controlling interest in Reach Media, Inc. (blackamericaweb.com), the Company also operates syndicated programming including the Rickey Smiley Morning Show, the Russ Parr Morning Show and the DL Hughley Show. In addition to its radio and television broadcast assets, Urban One owns iOne Digital (ionedigital.com), our wholly owned digital platform serving the African-American community through social content, news, information, and entertainment websites, including its Cassius, Bossip, HipHopWired and MadameNoire digital platforms and brands. We also have invested in a minority ownership interest in MGM National Harbor, a gaming resort located in Prince George's County, Maryland. Through our national multi-media operations, we provide advertisers with a unique and powerful delivery mechanism to the African-American and urban audiences.

¹ Transaction Fees may apply.
² Transaction Fees may apply.
³ Rewards program subject to restrictions and other terms and conditions.

 

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SOURCE Urban One, Inc.

FAQ

What is ONE VIP by Urban One?

ONE VIP is a digital financial solution featuring a debit card and rewards program designed for Black consumers.

How does the rewards program work for ONE VIP?

The ONE VIP rewards program offers points for purchases, which can be redeemed for cashback or donated to community charities.

When was ONE VIP launched?

ONE VIP was launched on October 22, 2020.

What is Urban One's commitment regarding donations?

Urban One will donate $10 for every active ONE VIP account every three months.

How does ONE VIP support Black-owned businesses?

Cardholders can earn additional points when shopping with select Black-owned brands as part of a Buy Black initiative.

Is the ONE VIP card FDIC insured?

Yes, deposits are FDIC insured up to $250,000 by Stride Bank.