Debit card holds both cash and virtual currencies/spotted on Springwise


Shift has introduced a card that lets users pay with both traditional bank accounts, loyalty points and virtual currencies.

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The traditional wallet is under threat. Last year, we wrote aboutCoin, the credit card-sized device that stores up to 8 cards at once and can be used in their place. Now Shift has introduced a card that lets users pay with both traditional bank accounts, loyalty points and virtual currencies.

The card appears and operates much like a standard debit card, except it’s tied to a Shift account, rather than a traditional bank account. Users can load a number of their money sources onto the card — whether it’s their bank account, digital currency wallet, ripple account or loyalty membership. The card can be used to pay for groceries with real cash in one shop, and moments later used to hand over Bitcoin for a coffee in another. It can handle payments in different fiat currencies and comes with an app to show exactly what’s been purchased with the card.

At the moment, the Shift card is being trialled by 100 users in the San Francisco Bay Area. It currently only works with virtual currencies and the team is hoping to clear the legal hurdles of integrating loyalty points and real money. Co-founder Meg Nakamura remained positive while speaking to TechCrunch, saying: “It’s just going to take time. U.S. banks are engaged and excited about the technology and its potential. They’re watching regulatory direction closely.”

Are there other ways to make switching between consumers’ various accounts simpler?

Website: www.shiftpayments.com
Contact: www.shiftpayments.com/contact

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About Framework Marketing Group

Framework Marketing Group has access to and is able to provide a range of co-ordinated creative thinkers…as and when you need them. It’s a marketing communications company with a toolbox of resources able to be used on an “on-demand” basis. The focus is on communication tools that evaluate brand strategies and interpret consumer behaviour to ensure a consistent and practical brand communications programme. Specifically: 1. Build strategic marketing plans: Understanding market data so strategic marketing plans have practical outcomes and communications to target markets are effective. 2. Communication audits From analysis of all messages – understand how customers really think and then recommend improvements to messages and media channel selection 3. Brand evaluations Establish how robust the brand equity is with each target market so communications to them is relevant 4. Integrate all communication channels Recommend an effective mix of communication channels to achieve economies of scale timing and content compatibility 5. Interpret market research Understand and fix gaps in market knowledge for consumers, customers and staff 6. Sales strategies Develop sales strategies from a foundation of core marketing platforms so all communications to market are complementary to each other
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