Railsbank powers Socios.com Visa Debit Card
‘I AM MORE THAN A FAN’ VISA DEBIT CARD LAUNCHES WITH VISION TO EMPOWER AND REWARD SPORTS FANS GLOBALLY
Partners include FC Barcelona - which recently launched its $BAR Fan Token, generating $1.3m in sales revenue in less than two hours
Railsbank, the leading global open banking platform, announces that its customer Chiliz (Binance:$CHZ) - the leading blockchain fintech provider for sports and creators of the fan voting and rewards app Socios.com - has launched the Socios.com Visa Debit Card.
The card, which is powered by Railsbank’s platform, will be available to all users on Socios.com.
Socios.com empowers users to ‘Be More Than A Fan’, allowing them to vote in club polls and earn rewards through digital assets known as Fan Tokens. Partners include FC Barcelona - who recently launched their $BAR Fan Token, generating $1.3m in sales revenue in less than two hours - Juventus, Paris Saint-Germain, Atlético de Madrid, AS Roma, Galatasaray, CA Independiente, UFC and esports team OG. As many as 50 more major sporting organisations are primed to join the platform before the end of 2020 - starting with four new clubs on August 25th.
The Socios.com Visa debit card will allow users to make deposits into their EUR or GBP wallet on Socios.com, topping up their balance and making payments for goods and services as with any traditional payments card. The card includes an IBAN and will initially be available in the EEA, before expanding over time to additional markets.
Featuring the message ‘I AM MORE THAN A FAN’ on its overlay, the Socios.com Visa debit card will allow users to strengthen and increase their fan status, while also gaining access to a range of other benefits. In addition to the non-branded version of the card, exclusive limited-edition club-branded cards for the leading Fan Token holders, bestowing additional user privileges, will be created.
Examples of rewards include Juventus ($JUV) and Roma ($ASR) Fan Token holders appearing - via video - on the LED panels surrounding the pitch for recent home games. Galatasaray ($GAL) Fan Token holders will also had their life-sized photos on display at the Türk Telekom stadium for the final three home games of the 2019/20 Süper Lig season.
Socios.com Visa Debit Card owners will also receive a unique global ID number linked to their KYC verified Socios.com ID, that will allow fans to redeem club and sponsor related rewards and discounts. The ID will be visible within the Socios.com app.
Louisa Murray, Global Head of Sales, Railsbank said: “Fintech and football together, the dream ticket! We are very excited that Chiliz and Socios.com have chosen the Railsbank platform from which to launch this very exciting product and we will be working very closely with the team to ensure that it is a great success.
“This is a great example of when we say, any company, or product, can be a fintech. It also illustrates how fintech can liberate so many aspects of life and be a key part in the development of society.”
Alexandre Dreyfus, CEO and founder of Chiliz and Socios.com, added: “The Socios.com Visa debit card is the last mile between the club and its fans, through which fans can enjoy even greater recognition - receiving financial boosts and reward points while boosting their fan status for making purchases linked to the clubs they love.”