Mogo Introduces 1% Bitcoin Cashback Rewards
A first-of-its-kind reward program in Canada
VANCOUVER, British Columbia–(BUSINESS WIRE)–Mogo Inc. (NASDAQ:MOGO) (TSX:MOGO) (“Mogo” or the “Company”), a digital payments and financial technology company empowering the next generation of consumers, today announced that their first-of-its-kind bitcoin rewards program has been extended to include the Mogo Visa* Platinum Prepaid Card (“MogoCard”) and digital spending account. Beginning this month, members will earn 1% bitcoin cashback rewards for every purchase made on their MogoCard. Their rewards will be deposited monthly in cash directly into their bitcoin and rewards account.
The 1% bitcoin cashback rewards program is available exclusively to members who refer a friend to Mogo. This unique reward is another compelling feature of the MogoCard, which is also the first and only card in Canada (debit, credit or prepaid) with a carbon offset program that automatically offsets CO2 with every purchase. In addition to having carbon offsetting and bitcoin cashback, the MogoCard was designed to help Canadians get in control of their spending and stay out of debt.
“Consumers today want a modern rewards program that can really have a big impact on their lives, versus legacy travel rewards,” said David Feller, Mogo’s Founder and CEO. “With bitcoin increasingly going mainstream, millions of Canadians are looking for a way to participate in this new asset class. This new program enables anyone to begin accumulating bitcoin, without risking their own money, while also controlling their spending and offsetting their carbon footprint, with no monthly or annual fee. Unlike traditional reward programs, bitcoin has the unique characteristic of being an asset class that can rise in value, as we have seen recently, and we’re excited to introduce a reward program that can potentially help members build wealth by accumulating bitcoin.”
To learn more about Mogo’s bitcoin cashback rewards, visit: https://blog.mogo.ca/bitcoin-cashback-rewards
*Trademark of Visa International Service Association and used under licence by Peoples Trust Company. Mogo Visa Platinum Prepaid Card is issued by Peoples Trust Company pursuant to licence by Visa Int. and is subject to Terms and Conditions, visit mogo.ca for full details. Your MogoCard balance is not insured by the Canada Deposit Insurance Corporation (CDIC). MogoCard means the Mogo Visa* Platinum Prepaid Card.
Forward-Looking Statements
This news release may contain “forward-looking statements” within the meaning of applicable securities legislation, including statements regarding our ability to increase brand awareness, drive member growth, engagement and monetization. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management at the time of preparation, are inherently subject to significant business, economic and competitive uncertainties and contingencies, and may prove to be incorrect. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Mogo’s growth, its ability to expand into new products and markets and its expectations for its future financial performance are subject to a number of conditions, many of which are outside of Mogo’s control. For a description of the risks associated with Mogo’s business please refer to the “Risk Factors” section of Mogo’s current annual information form, which is available at www.sedar.com and www.sec.gov. Except as required by law, Mogo disclaims any obligation to update or revise any forward-looking statements, whether as a result of new information, events or otherwise.
About Mogo
Mogo — a financial technology company — offers a finance app that empowers consumers with simple solutions to help them get in control of their financial health and be more mindful of the impact they have on society and the planet. Users can sign up for a free account in only three minutes, begin to learn the 4 habits of financial health and get convenient access to products that can help them achieve their financial goals and have a positive impact on the planet including a digital spending account with Mogo Visa* Platinum Prepaid Card featuring automatic carbon offsetting, free monthly credit score monitoring, ID fraud protection and personal loans. Members can also easily buy and sell bitcoin 24/7 through the Mogo app, as well as participate in Mogo’s new bitcoin rewards program. The Mogo platform has been purpose-built to deliver a best-in-class digital experience, with best-in-class products, all through one account. With more than one million members and a marketing partnership with Canada’s largest news media company, Mogo continues to execute on its vision to gamify financial health and become the go-to financial app for the next generation of Canadians. To learn more, please visit mogo.ca or download the mobile app (iOS or Android).
Contacts
Craig Armitage
Investor Relations
[email protected]
(416) 347-8954
