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May 02, 2013

PayPerks Offers Financial Education and Rewards

By Robbie Pleasant, TMCnet Contributor

Comerica Bank and MasterCard (News - Alert) have decided that it’s time to help make customers more financially aware with the Financial Literacy Month. As such, they’ve introduced PayPerks: a complimentary financial education and rewards platform for anyone with a Direct Express Debit MasterCard.

With this program, users are rewarded for participating in a financial capability curriculum online or through mobile browsers. The curriculum is designed to help encourage financial responsibility, and has been customized to help Direct Express cardholders use their cards for maximum convenience with minimum fees. It also addresses topics such as establishing savings plans and managing household budgets.

The U.S. Department of the Treasury is known for using the Direct Express Debit MasterCard program, helping for federal payments to recipients who would have difficulty receiving direct deposits, such as Social Security payments, Veterans’ benefits and more. You are now free to make any jokes about them needing the education program most of all.

"The Direct Express Debit MasterCard program has enabled Treasury to provide federal payments electronically, even to those without bank accounts, eliminating the need to print and mail millions of paper checks each month," said Walt Henderson, director of EFT Strategy Division at the Department of the Treasury.  "Beyond the savings Direct Express offers taxpayers, it also provides recipients with a convenient means to receive their federal payments electronically and to pay bills or make purchases by telephone, on the Internet, or at the point of sale at no cost.  Adding the PayPerks financial capability curriculum to Direct Express increases the program's value even more, as it empowers cardholders to get the most benefit from their cards and to take control of their financial lives."

The PayPerks program is open to all Direct Express cardholders. It provides a rewards model that combines education and incentives to encourage positive spending changes, while earning points that can be used for rewards and chances to win prizes. This not only educates customers on proper spending and management habits, but also encourages it with the promise of reward. The combination makes for a great program that will help provide better spending habits for customers everywhere.

Edited by Alisen Downey
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