SAN FRANCISCO, Calif., March 1, 2022 /PRNewswire/ — Paceline, the startup that connects your health and your finances through its unified wellness platform, today launched the first credit card powered by movement – rewarding cardmembers not only for spending, but for staying active by hitting their weekly “streak” of 150-minutes of exercise.
The Paceline Visa Signature Card allows cardmembers to earn back the cost of Apple Watch Series 7, and boasts up to 5% unlimited cash back on eligible health and wellness spend and up to 3% unlimited cash back on all other eligible purchases for cardmembers who achieve their weekly streak.
The Paceline Card is powered by your workouts, doubling the amount of cash back you receive when you complete your weekly streak. Activity monitoring is simplified by connecting the Paceline app with any compatible wearable device. The card leverages the same system that fuels Paceline’s free rewards app, which offers gift cards and discounts to top wellness brands such as Daily Harvest, Hyperice, and Alala.
“Your health is your most valuable asset, and you should be rewarded for pursuing it,” says Joel Lieginger, Founder and CEO, Paceline. “Paceline empowers people to turn their physical health into an asset, and ultimately enables people to get rewarded for living healthier, better, and longer lives. The Paceline Card delivers on that promise and reinforces our mission to change the nature of preventive health in society.”
With its rich rewards app and unrivaled credit card, Paceline is designed to make, keep, and reward you for being active – no matter where or how you work out. By connecting your physical health to your everyday purchases and financial well-being, Paceline incentivizes the pursuit of better health and finances together, in a continuous virtuous cycle.
“The science shows that we can improve health outcomes by improving health behaviors, and incentives can double your likelihood of exercising,” said Dr. Heather Royer, Professor of Economics, University of California at Santa Barbara. “Paceline’s approach not only personalizes the measurement of exercise, but also broadens the incentive program to reach more people.”
Since launch, the engaged community of over 500,000 users on the Paceline app have logged over 2 billion workout minutes and redeemed $4 million in rewards value. Paceline continues to expand the health and wellness category, allowing more brands to qualify for elevated cash back, including gym memberships, groceries, fitness classes, fitness apps, pharmacy purchases, workout apparel, and fitness equipment.
The Paceline Card is powered by RailsTech, Inc., the US subsidiary of Railsbank Technology, Ltd., the world’s leading embedded finance experience platform, and is issued by Evolve Bank & Trust; Member FDIC pursuant to a license from Visa® USA, Inc.
Paceline’s Powerful Cash-Back Signature Credit Card:
- Cardmembers unlock up to 5% unlimited cash back on purchases from qualifying health and wellness merchants and up to 3% unlimited cash back on all other qualifying purchases – when they hit their weekly Paceline streak.
- Cardmembers earn unlimited base cashback of 2.5% on all health and wellness purchases and 1.5% on all other qualifying purchases if they do not hit their weekly streak.
- $60 annual membership fee.
Expanding ‘Health & Wellness’ Category Rewards Cardmembers for Staying Healthy:
Paceline continues adding health and wellness brands to qualify for cardmembers to earn cash back:
- Gym memberships and subscriptions, including Peloton, Equinox, SoulCycle, Life Time, Orangetheory Fitness, Planet Fitness, and more.
- Fitness equipment with brands including Peloton, Tonal, Mirror, and Echelon.
- Fitness apparel and sporting goods with brands including Adidas, Athleta, Nike, lululemon, The North Face, Outdoor Voices, Patagonia, and Under Armour.
- Grocery stores including Whole Foods, Trader Joe’s, Instacart, and more.
- Qualifying pharmacy purchases at CVS, Walgreens, Rite Aid, and others.
Automated and Flexible Rewards Redemption Further Incentivizes Pursuit of Health:
- Cash back automatically posts to cardmembers’ accounts daily for hassle-free rewards management.
- Cardmembers are eligible to redeem additional Paceline streak rewards from over 200 brand partners when their weekly Paceline activity streak is hit.
Strategic program built in collaboration with Apple allows Cardmembers to be reimbursed for Apple Watch Series 7, accelerating their wellness journey:
- New cardmembers are eligible for weekly credits towards their purchase of any Apple Watch–including Apple Watch Series 7–up to $429, which can be earned back over 12 months.
- To qualify, cardmembers must hit their weekly activity streak of 150 minutes of exercise and keep their account in good standing.
Paceline believes in connecting your physical and financial health in a privacy-first and consent-driven way. The company never shares your data with, or sells it to, third parties. Paceline only uses your data to deliver more value to you because Paceline believes that your data is just that – your data. In keeping with Apple’s core value of privacy, when users share activity data collected by Apple Watch with Paceline, they are in control of what data types they would like to share, and Apple does not have access to this data. User data is also safeguarded by innovative privacy protections built into every Apple Watch.
Paceline is the first unified wellness platform, incentivizing consumers to live a healthy lifestyle through financial rewards. By leveraging the emergence of connected wearables and AI to reward users for achieving health goals, Paceline further connects customers’ health to their everyday financial wellbeing. Unified wellness incentivizes the pursuit of better health and finances together, in a continuous virtuous cycle. As such, Paceline is an integrated system of technology, financial services, and health and wellness brands that become an embedded, yet non-invasive, component of life – financially motivating each user toward achievable goals that improve well-being.
Current investors include Acrew Capital, Mubadala Capital – Ventures, Montage Ventures, Propel Venture Partners, Northwestern Mutual Future Ventures, GreatPoint Ventures, Courtside Ventures, Lux Capital, MS&AD Ventures, Clocktower Technology Ventures, NextView Ventures, and angels including Mark McCombe, Senior Managing Director at BlackRock, in his personal capacity.
Contact: [email protected]