Brisbane, 15 December 2023: Brisbane’s global fintech, Change Financial, unveiled Doing Good Rewards as the debut participant in their ambitious Prepaid Incubator program.
Doing Good Rewards is the world’s first loyalty program to automatically combine shopping discounts and charity giving in the same transaction. Their fresh approach has drawn attention for its powerful social impact and novel application of Mastercard prepaid cards, contributing to merchant onboarding and enhancing business visibility in the Australian market.
"Being chosen as the first participant in this remarkable program marks a pivotal moment for Doing Good Rewards. It validates our innovative approach in blending commerce with charity, and we are thrilled to work alongside esteemed partners like Change Financial, Fintech Actuator, and Mastercard,” said Brad Langdon, Chief Executive Officer of Doing Good Rewards.
“Brad and the team put forward a compelling value proposition and we’re excited that our first incubator participant has such positive social impact goals,” added Tim Boucaut, Managing Director, Fintech Actuator.
In this alliance, Change Financial will issue Mastercard prepaid cards, with Fintech Actuator managing the program, aiding fintechs with comprehensive guidance from onboarding to design and execution.
Mastercard will support the participants with access to industry experience, technology, and connections to help validate their program. Change Financial and Mastercard aim to create an environment that allows emerging fintechs to experiment, innovate, and prosper by offering them a platform to test their prepaid card solutions in the real world.
"This collaboration helps remove many of the barriers for local fintechs to enable card issuing programs, it's designed to be accessible whilst allowing partners to test, learn and scale,” said Dan Martin, Vice President and Head of Digital Partnerships, Australia at Mastercard.
Each program will run for a period of six to nine months, providing continuous support and guidance to the participating fintechs.
“This innovative incubator program has been crafted with a vision to accelerate the growth and innovation of Australian fintechs, ensuring they have the necessary tools and support to navigate through the initial stages of development and market testing,” said Tony Sheehan, Chief Executive Officer of Change Financial.