The Paceline Card, which is issued by Evolve Bank & Trust, touts itself as “a first-of-its-kind credit card that links financial benefit to physical health” in the company announcement. Paceline cardholders can get reimbursed for their Apple Watch purchases, including the new Series 7 model.
Users who reach 150 minutes of exercise per week will unlock rewards, increased cash-back opportunities and other benefits.
“Rewards programs are essential loyalty drivers for credit cards, and they’re developed to drive card activity,” said Joel Lieginger, CEO and founder of Paceline, in the company announcement. “But Paceline is turning that model on its head.
“Our focus is on building a rewards program that is driven by physical activity and prioritizes the physical and financial health of the cardholder,” he said. “The Paceline Card is the next major step in realizing our vision of a unified wellness platform, and we chose to pair our card with the Apple Watch — and closing your activity rings — because it aligns with that core vision.”
Tying financial perks to increased physical activity means “we have the opportunity to not only dramatically improve the health of individuals, but also the nature of preventive health in our society,” said Lieginger.
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The Paceline Card is backed by embedded Banking-as-a-Service platform Railsbank.
Related: Paceline Rewards Consumers To Work Out And Stay Healthy
Lieginger told PYMNTS CEO Karen Webster in July about Paceline’s plan for the Paceline Card.
“We’re building this for the next-generation connected consumer,” Lieginger said at the time. “The whole idea of our credit card is to incentivize and further consumers’ personal health and wellness journeys.”
Rewards, Lieginger told Webster, have helped credit card companies change Americans’ shopping, dining and travel habits over the last two decades, so Paceline created one that could change consumers’ health habits.
