Discover Launches Plastik Prepaid Loyalty Card

Cloud-based mobile rewards platform provider announced yesterday (August 12) the launch of its new Perk Plastik prepaid debit card that runs on the Discover Network.

Cloud-based mobile rewards platform provider announced yesterday (Aug. 12) the launch of its new Perk Plastik prepaid debit card that runs on the Discover Network.

Cardholders will be able to convert Perk points into money, which can then be used at any retail or online establishment. The card is issued in partnership with Marqeta, an API-based issuer processor platform.

“We are very pleased to launch Perk Plastik. Since the rollout of the program on July 16, thousands of members have selected the Plastik option. We have received overwhelmingly positive feedback from our members in this relatively short period of time about the ease of use and accessing more avenues to spend their rewards,” Ted Hastings, CEO of Perk, said in a company statement. “With Perk Plastik, we provide our members with greater personal financial flexibility and versatility when it comes to redeeming their Perk Points. Providing options in the form of rewards we offer a competitive advantage over any rewards platform with a defined set of rewards in a catalog, this drives user engagement and entices new members to utilize our apps.”

Perk members can sign up for a Perk Plastik card through the latest version of Perk Wallet, which is available for both Android and Apple mobile devices.

“Perk Plastik is also aligned with our long-term strategy with our advertising partners as we can provide even more value and insights to our advertisers looking to understand whether their advertising is having an effect on in-store purchases. Perk Plastik is better for our consumers, better for advertisers and as a result increases the adoption of our platform. We are proud to partner with Marqeta and Discover in this endeavor and will continue to seek additional opportunities to expand our network and improve the Perk brand,” Hastings continued.

The Perk Plastik card is then linked to the member’s account, allowing Perk Points to be directly exchanged for funds accessible through the card. The Perk Plastik card can be used wherever Discover is accepted.

Omri Dahan, CRO of Marqeta, added: “We have found that merchants today are not looking to change their point of sale to accept reward points as payment. Marqeta is able to convert points in real time helping Perk to provide its members with greater options for spending their rewards. We look forward to a long business relationship with Perk and are proud to be a part of Perk Plastik.”

To check out what else is HOT in the world of payments, click here.


Featured PYMNTS Study: 

With eyes on lowering costs to improving cash flow, 85 percent of U.S. firms plan to make real-time payments integral to their operations within three years. However, some firms still feel technical barriers stand in the way. In the January 2020 Making Real-Time Payments A Reality Study, PYMNTS surveyed more than 500 financial executives to examine what it will take to channel RTP interest into real-world adoption. Here’s what we learned.

Click to comment