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Walmart’s Prepaid Card “Prize Savings” Program

Walmart’s Prize Savings program is available to its MoneyCard prepaid Mastercard and Visa cardholders. It is the first U.S. retailer to offer a prize-linked savings (PLS) program. PLS programs have been used in other countries to encourage savings among low-income individuals for more than a decade. Walmart MoneyCard prepaid cardholders can transfer funds from their card balance into MoneyCard Vault, a no-fee savings feature that is part of their prepaid product. For every dollar a cardholder moves into MoneyCard Vault each month, they receive one entry in a monthly nationwide Prize Savings ...

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January 2017
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