Wellness platform Paceline launches a credit card
San Francisco-based Paceline , a health and wellness platform that rewards physical activity with financial benefits, announced the launch of the Paceline Card, tying credit card rewards to physical activity tracked via Apple Watch.
The Paceline Card, issued by Evolve Bank & Trust, is a credit card that links financial benefit to physical health. With a new program built in collaboration with Apple, cardholders can get reimbursed for their purchase of Apple Watch, including the recently released Series 7, to accelerate their wellness journey. Paceline members who achieve 150 minutes of exercise each week unlock rewards, boosted cash back, and other benefits.
“Rewards programs are essential loyalty drivers for credit cards, and they’re developed to drive card activity. But Paceline is turning that model on its head. Our focus is on building a rewards program that is driven by physical activity and prioritizes the physical and financial health of the cardholder. The Paceline Card is the next major step in realizing our vision of a unified wellness platform, and we chose to pair our card with the Apple Watch—and closing your activity rings—because it aligns with that core vision. By tying financial incentive to achievable physical activity goals, we have the opportunity to not only dramatically improve the health of individuals, but also the nature of preventive health in our society.” – Joel Lieginger, CEO and founder of Paceline.
Paceline members who achieve 150 minutes of physical activity each week can redeem a reward from over 500 health-focused lifestyle brands. Activity monitoring is simplified by connecting the Paceline app with a compatible wearable device and since last year, more than 1 million rewards representing over $3.5 million in value have been redeemed.
The Paceline Card is powered by banking-as-a-service platform Railsbank. “Paceline is pioneering unique embedded finance models that are emerging to deliver more meaningful value to users. We worked closely with the Paceline team to build a credit card experience that embodies their commitment to unified wellness and delivers a product that is secure, reliable, effective and seamless.” – Railsbank CEO and co-founder Nigel Verdon.
