Starbucks and Chase Introduce Starbucks Rewards™ Visa® Prepaid Card
SEATTLE Jun 11, 2018 Second co-branded product, with no monthly, annual or reload fees, brings customers more opportunities to earn Starbucks Rewards, everywhere Visa is accepted
Today, Starbucks (NASDAQ: SBUX) and Chase (NYSE: JPM) announced the availability of the Starbucks Rewards™ Visa® Prepaid Card, the first prepaid or debit product where you can earn Stars outside of Starbucks. It is the only general purpose reloadable (GPR) prepaid product that allows you to earn Stars for purchases you make with the card, with no monthly, annual or reload fees1. The second co-branded product introduced by the companies this year, the Starbucks Rewards™ Visa® Prepaid Card is a unique financial solution for a growing population of customers looking for alternative tools for money management while earning Starbucks Rewards in all places Visa is accepted.
Integrated directly into the Starbucks Rewards™ loyalty program, customers who use the Starbucks Rewards™ Visa® Prepaid Card will automatically receive Gold Status, earn Stars with spend and become eligible for Birthday Rewards, free food and beverage items from Starbucks, and more including exclusive perks and benefits already enjoyed by more than 14 million members daily.
“We want to offer Starbucks customers a flexible card that delivers more Star-earning potential in the fastest way possible,” said Jennifer Roberts, head of Digital Products for Chase. “The new Starbucks Rewards™ Visa® Prepaid Card is perfect for Starbucks fans who want a simple way to pay and get rewarded for everyday purchases.”
Benefits of the Starbucks Rewards™ Visa® Prepaid Card include:
- Bonus Stars: 125 Bonus Stars the first time you use your Starbucks Rewards™ Visa® Prepaid Card to load $10 or more to your registered Starbucks Card (equal to one food or drink Reward)2
- More Stars: 1 Star for every $10 on purchases made with the Starbucks Rewards™ Visa® Prepaid Card, everywhere Visa is accepted.
- Instant Gold Status: Cardholders will automatically receive Gold Status within the Starbucks Rewards™ program
- No Monthly, Annual or Reload fees1
- Chase Zero Liability Protection
- FDIC Insured
“As we continue to expand and strengthen our digital relationships with customers, we want to make sure we’re providing choices that are both rewarding and meet their preferences in how they engage with us,” said Matt Ryan, chief marketing officer for Starbucks. “This reloadable Visa Prepaid card is a unique and modern option that gives customers one more way to earn more Stars and Rewards through everyday spend, in a way they haven’t been able to before.”
General Purpose Reloadable Cards have seen an increase of usage in recent years, with a growing population of customers adding prepaid products as money management tools for everyday purchases, as well as to better manage their financial lives3.
The Starbucks Rewards™ Visa® Prepaid Card is the second co-branded product introduced by Starbucks and Chase this year, following the launch of the Starbucks Rewards™ Visa® Card in February. Chase Merchant Services is the payment processing partner for Starbucks stores in the U.S. and Canada, and Chase Pay is accepted at participating Starbucks stores in the U.S., as well as through the Starbucks mobile app.
For more information about how to apply for the Starbucks Rewards™ Visa® Prepaid Card, including terms and conditions, click here.
1Other Fees May Apply
2Limited Time Offering, through 2018
3FDIC 2015 National Survey of Unbanked and Underbanked Households, October 2016
Lauren Ryan, Lauren.F.Ryan@jpmorgan.com