First-of-its-Kind Partnership Takes Aim at Hispanic Underinvestment by Offering Fractional Shares of Stock as Rewards for Everyday Spending
DNERO, the Digital Wallet offering financial services for the Hispanic market, and Bits of Stock, the platform that powers Stock Rewards & loyalty programs, have announced a partnership that will allow users to earn fractional shares of stock on everyday purchases.
The DNERO App will be the first platform dedicated to empowering Hispanic wealth-building via Stock Rewards. Starting next month, DNERO users will be able to automatically earn Stock Rewards on qualifying purchases made with their DNERO debit card, with up to 10% back at over 10,000 top brands and merchants. The next-generation rewards offering will be powered by the Bits of Stock Growth Rewards API™.
According to a recent CNBC survey, only 28% of Latino families in the US are invested in the Stock Market, compared to 61% of white families. DNERO CEO, Carlos Orellana, believes Stock Rewards will set our business apart by incentivizing more Hispanics to learn how to build wealth.
“By offering rewards in the form of fractional shares of stock, we can provide an entry point for under-invested members of our community to start building wealth,” said Orellana. “We’re thrilled to partner with Bits of Stock to offer this innovative reward that will strengthen our relationship with our market and provide real value for our community members.”
“DNERO is an ideal partner,” said Arash Asady, CEO of Bits of Stock. “As a mission-driven startup, we’re proud that they’re leveraging our technology to empower financial wellness and help us build the ownership economy.”
DNERO is an inclusive digital platform that will improve the financial habits of the un- and underbanked, with an emphasis on the Hispanic community, by incentivizing spending, investing, receiving, earning, and managing money!
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