Upromise To Save For College With AMasterCard

May 23, 2006, 1:00 a.m. EDT 1 Min Read

Facebook
Twitter
LinkedIn
Email
Show more sharing options
Share Show more sharing options

Register now

PURCHASE, N.Y. - (05/23/06) MasterCard Internationalannounced an exclusive debit deal with Upromise Inc. which willallow MasterCard debit card holders to set aside bonus points for acollege savings account. Members of Upromise will earn rebates fromthousands of grocery stores, gas stations, restaurants and retailstores that will be rebated into a Section 529 college savingsplan. Under the deal with MasterCard, members of Upromise whoregister a MasterCard debit card issued by a participatingfinancial institutions will earn extra cash contributions by makingeligible purchases with certain merchants. The contribution will beequal to 1% to 5% of the purchase price. Upromise is based inNeedham, Mass.

Facebook
Twitter
LinkedIn
Email
Show more sharing options
Share Show more sharing options

Reprint

For reprint and licensing requests for this article, click here.

TRENDING

Data sharing

Small Louisiana bank gives customers tool to safeguard their data

Origin Bank is rolling out software to let customers curb or shut down account-data sharing with third-party apps. In the process, it hopes to learn a lot about client behavior and preferences that it could use in its own products.

By Penny Crosman

24m ago
Federal Reserve

Bankers skeptical Fed’s Main Street program will pick up steam

Loan officers surveyed by the central bank said the subpar creditworthiness of some applicants and the ability of others to find credit elsewhere are among reasons the middle-market rescue facility has fizzled.

By Hannah Lang

34m ago
M&A

Small Virginia Beach credit union to merge into Chartway FCU

Members of St. Matthews Federal Credit Union are set to vote on whether to join the $2.3 billion-asset Chartway before the end of the year.

By Aaron Passman

42m ago

MORE FROM AMERICAN BANKER

Digital payments

Banking groups urge Congress to block OCC payments charter

Various trade organizations sent letters to a House Financial Services Committee task force saying lawmakers should "actively discharge their oversight prerogatives" as the national bank regulator considers giving licenses to companies that do not accept deposits.

By Brendan Pedersen

3h ago
Cryptocurrencies

Financial institutions, government still wary of crypto

Employees in the financial industry and public sector are considerably more worried about the risks posed by digital currency than those in the cryptocurrency field, a new survey finds.

By Brendan Pedersen

4h ago
Community banks

First Merchants to shuffle management after CEO's retirement

Michael Rechin will step down at the end of this year. The Indiana company tapped CFO Mark Hardwick as its next CEO, while Michael Stewart, its chief banking officer, will become president.

By John Reosti

5h ago
Women in Banking

The Most Powerful Women in Finance

Many of the women in this year's list are familiar to American Banker readers, including J.P. Morgan's Mary Callahan Erdoes, Fidelity Investmemts' Abigail Johnson and Synchrony Financial's Margaret Keane. Seven honorees are newcomers, including two, Maria Hackley and Ida Liu, from Citigroup.

September 28
M&A

Summit Financial set to enter Kentucky with small bank acquisition

The West Virginia company has an agreement to buy WinFirst Financial for $21.7 million in cash.

By Paul Davis

September 28
M&A

Umpqua lines up sale of wealth management business

The pending sale of Umpqua Investments should free up funds for the company to invest in other businesses.

By Jim Dobbs

September 28