Starbucks has partnered with Chase to launch a new prepaid debit card.
The Starbucks Rewards Visa Prepaid Card is the first prepaid or debit product where you can earn Stars (reward points) 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 fees.
This is the second co-branded product introduced by the companies. The Starbucks Prepaid Card is aimed at a growing population of customers looking for alternative tools for money management while earning Starbucks Rewards.
Integrated directly into the Starbucks Reward loyalty program, customers who use the Starbucks 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 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)
- 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 fees
- 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.
In February, Starbucks and Chase launched the Starbucks Rewards Visa Card. 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.