Robinhood announced the replacement of debit cards with new Cash Cards with the possibility of receiving cashback in digital assets. This information is written The Verge.
Thus, the company satisfied the needs Generation Zwhich, according to the company’s research, does not favor many banking products.
Also, Cash Card does not provide commissions or interest. When buying goods and services, spending is rounded to the nearest dollar. For these “surpluses”, the company buys shares or cryptocurrency, depending on the preferences of the client. This option comes with a weekly bonus up to $10.
In addition, the owners of the new card will be able to link it for crediting salaries to separate accounts, including for converting into cryptocurrencies.
For the company, the new card is an element of the strategy for creating “embedded crypto products”, which is how it described in company. With its help, they plan to expand the audience by those who are not associated with digital assets, offering them familiar interfaces.
