PayPerks was named “The One to Watch” at the Paybefore Awards (held at the All Payments Expo in Las Vegas on March 4th)!
The best in category award, which is given to the up-and-coming prepaid/emerging payments business offering the program, product or service with staying power and the potential to move prepaid/emerging payments forward—over the long term, foreshadows the staying power of PLS on emerging payments products. The Paybefore write up explains that the judges chose PayPerks as it is, “poised to drive meaningful, differentiating and scalable impact for both the profitability of the financial services provider and for the end-users of the platform.”
A winning proposition, to be sure!
Excited to report that Paybefore (the leading information provider to prepaid, mobile and emerging payments industry professionals) has selected PayPerks as a 2014 Paybefore Awards winner in the ‘One to Watch’ category. This award recognizes the up-and-coming prepaid/emerging payments business offering the program, product or service with staying power and the potential to move prepaid/emerging payments forward—over the long term.
PayPerks was selected by a panel of five industry experts who served as judges for this year’s competition. The Best-in-Category will be determined by this panel in combination with a popular vote (visit Paybefore.com’s voting page through Feb 2nd to show your PayPerks-love).
Winners will be announced at the All Payments Expo., at 1:20 PM on March 4th so stop by and say hi if you’re there!
Here at PayPerks, we’re constantly trying to improve users’ experience on the site. This week, we’re launching a new look and feel to our login, sign up and card linking page, as well as a whole new navigation bar (especially on mobile!).
Improvements to card linking and error reporting have greatly reduced the new user learning curve
Logging in is now as easy and pretty as the rest of the site!
Flat UI and our new forms make the sign up process more approachable
One of the changes, based on user feedback, is that we’ve made it easier to see what the upcoming prizes are and what you’ve won in the past — just click on Prize Info on the top.
New names, and a drop down style menu make it easier to find what you’re looking for
Stay tuned for more visual changes over the coming months, we’ll be sure to announce any updates here. For a more detailed look at all the changes, see our Help Center posts:
As always, let us know what you think of the new design! Email us a email@example.com, or use this form to contact us. We love hearing your feedback.
As a follow up to their 2012 market sizing report , CFSI and Core Innovation Capital published this list of, in their words, “principal and up-and-coming movers and shakers in payments for the underbanked, or the Emerging Middle Class.” We found this map so helpful, we printed it and posted it on our physical wall!
What do PayPerks and streaming music app Songza have in common? Both have founders with the last name Davich and both companies have a founder that went to Bowdoin.
There are many more lesser known facts, and fun photos, in this feature story from the Fall 2013 issue of Bowdoin Magazine.
Go U Bears!
Bowdoin Magazine Features PayPerks’ CEO (and her brother)
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!
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 invited us to conduct a workshop at the Federal Reserve Bank of Philadelphia.
Over the 2+ years since we first met Susan, PayPerks has grown from 2 to nearly 30 people, launched on numerous programs and touched hundreds of thousands of cardholders. The paper, “Driving Positive Behavior Change through Education and Motivation” (link to download PDF) provides a deep dive on what happened along that path.
Here’s a summary provided by the author:
This paper discusses the fusion of financial literacy instruction and gamification as developed and delivered by start-up firm PayPerks. PayPerks’ initial emphasis has been on improving the understanding and use of prepaid cards among individuals with little prior experience using payment cards. PayPerks co-founders facilitated a Payment Cards Center workshop where they demonstrated their product and discussed the journey it took from raw idea to commercialization. Two significant new PayPerks partnerships, including one with the U.S. Treasury Department’s DirectExpress program, were also announced during this workshop. Along with describing a novel approach to consumer financial education, the PayPerks story is also a study in innovation and entrepreneurship.
Download the full PDF
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.
Crossing that big milestone didn’t feel “real” until we started making the trek down from our office in the Flatiron District of New York City (past several lesser fountains). Along the way, we pointed out sights, making casual conversation while trying to psych each other out with how cold the fountain water was going to be in September. Truth be told: it was more than a little chilly.
The size of our team had doubled since the last jump, making it a little harder to sneak in for a quick picture and dart out again. But we somehow managed to dash in, pose, and all be looking at our plucked-from-the-crowd photographer at the same time. Miracles do happen!
We haven’t chosen our next milestone yet, but we’re hoping to have even more PayPerksians crowded into the fountain as our team continues to grow. We’ll have to take turns with which unlucky few have to take the brunt of the fountain in the back—thanks Ali, Caroline, and Tim for being brave enough to go all in this time!
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 Paybefore named us their “Company to Watch”. We are glad to see they’re still watching!
Gamification: More than Just Fun and Games
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 prepaid cards, the AGA found significant savings for both the payees and the recipients of federal benefits payments. While it’s possible to use the government prepaid programs at no cost, an average cardholder will see a cost of .03% of the payments received on a prepaid card– compared to costs up to 4% for the alternative in check cashing fees.
The government is also saving– Treasurer of the United States Rosio Rios famously wrote a check to American taxpayers in 2011 for the $1 billion that will be saved by moving from checks to prepaid cards.
It’s a win-win-win!
Read the full article here: http://bankcreditnews.com/news/aga-report-finds-government-prepaid-cards-offer-numerous-advantages/11472/