TORONTO, June 05, 2019 (GLOBE NEWSWIRE) -- Weeks after announcing the close of its precedent-setting $42 million Series B fundraise, KOHO continues to push the industry forward by offering the best cashback program available to Canadians. No other prepaid card on the market offers cashback to consumers, and KOHO continues to change the rules of the game by offering 2% cashback on groceries, transportation, and dining out with its rewarding Premium full-service account.
KOHO Premium also boasts no foreign exchange fees, a slick vertical card design, free financial coaching in the app, higher balance limits, and price-matching to help users find the best deals possible — even after purchase.
For $9 a month or a discounted $84 a year, users who adopt Premium can buy their groceries at any store they want (and aren’t limited by big chain retailers). They also earn on transportation from Uber, to gas stations, to transit. What’s more, users can happily order that extra appetizer or food delivery knowing they’re earning instant cashback on all eating and drinking. For all purchases outside of those three categories, users will earn 0.5% cashback. All they need to spend per month to make the Premium upgrade more than pay for itself is $600.
Wisdom holds that Canadians should save 20% of their annual income, but in reality the average savings rate is only 3.5%. From Premium to its RoundUp feature, which rounds transactions up to the nearest dollar or more, KOHO continues to find innovative ways to help its users save money even while they spend.
“Just like the company itself, Premium is an evolving offering that will continue to provide more value for KOHO users as they adopt it,” shared Daniel Eberhard, Founder and CEO of KOHO. “We’re constantly adapting our products to fit the lives of Canadians, to add value and help contribute to a more financially balanced future,” he added.
KOHO is offering a free 30 day trial of Premium so that users can see for themselves if the program is the right fit for them. The original KOHO offering with its 0.5% cashback and feature-rich app will always remain free. Premium is just the beginning, with many more exciting launches coming from KOHO later this summer, including the arrival of metal cards with a waitlist already thousands long.
About KOHO
KOHO is a quickly scaling FinTech company that offers Canadians an alternative to their traditional banking experience. With an integrated app and reloadable Visa card, users get real-time insights into their money, along with instant cashback, round-ups, automated savings goals and more. Backed by Power Corp. and Portag3, KOHO is an ambitious company looking to make a difference in the financial lives of Canadians. KOHO has raised two rounds of funding and won the NASDAQ Award for Best FinTech Co. Visit www.koho.ca for more information.
Contact: Tanya Black, Communications Strategist, tanya@koho.ca (416.666.5352)
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/b138246d-9107-479b-bbc6-75d8b94439a7