Discussion Paper

Driving positive behavior change through education and motivation: summary of a PayPerks workshop

Abstract: Start-up firm PayPerks has developed a financial capability and rewards platform that combines online education with sweepstakes-based incentives. PayPerks? initial emphasis has been on improving the understanding and use of prepaid cards among individuals with little prior experience using payment cards. Participants can earn points in a variety of ways, including taking short, self-directed tutorials on prepaid card use. Every month, those points become chances to win cash prizes in sweepstakes drawings. PayPerks co-founders facilitated a Payment Cards Center workshop where they demonstrated their product and discussed the journey it took from raw idea to commercialization. Two significant new PayPerks partnerships were also announced during this workshop.

Keywords: Financial literacy; Payment systems; Unbanked;

Bibliographic Information

Provider: Federal Reserve Bank of Philadelphia

Part of Series: Consumer Finance Institute discussion papers

Publication Date: 2013

Number: 13-01