Points and perks are often used by credit card providers to provide a reward for consumers, so the 'Point' mobile banking app is positioned as a new solution to do just that without having to accumulate any debt in the process. The app is a debit card that will provide shoppers with points for making purchases through their favorite merchants and brands. This includes such companies as DoorDash, Uber, Chipotle, Starbucks and many more.
The 'Point' mobile banking app will reward users for saving with a 1.4% APY and also provide them with FDIC insurance as well as a no hidden fee model for them to appreciate. The service will come as welcome news to consumers seeking to perform a financial makeover and shift their purchases away from credit cards.