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Grover, Visa, Solarisbank to launch reward debit card for tech rental customers

Wednesday 3 November 2021 10:19 CET | News

Consumer tech subscriptions provider Grover has launched its first financial services product - the Grover Card - in a move to ramp up efforts to democratise access to tech while tackling e-waste. 

The Grover Card is a Visa Debit Card, issued by Solarisbank and available to customers in Germany through the Grover app. The card offers a three percent return on everyday purchases which is turned into Grover Cash rewards, tracked and redeemed against tech subscriptions in the app. 

The card is being launched in a closed beta phase to existing customers who can sign up through the app or website and will be more widely available in Germany in Q1 2022 before being rolled out to Grover’s other markets in the near future. 

This is the first step in a growth plan to bring embedded finance into the Grover offer, to help customers get more mileage from their money while encouraging a societal shift towards circular tech. Customers can also expect a gamified user experience that makes day to day spending more engaging, tracking how average purchases can be transformed into access to tech products.

The card can be used everywhere Visa is accepted, and customers can expect the same levels of protection and security they’d expect from a Solarisbank account. 

According to recent research from Solarisbank, around 61% of consumers are willing to use financial services offered by ecommerce businesses, emphasising the potential of the embedded finance market which is expected to grow from EUR 22.5 billion today to around EUR 230 billion globally by 2025. 


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Keywords: partnership, Solarisbank, Visa, embedded finance, debit card, ecommerce
Categories: Payments & Commerce
Companies:
Countries: Germany
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Payments & Commerce






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