By using a new debit card, customers contribute to cutting-edge research with each payment
Spotted: As the world continues to emerge from the COVID-19 pandemic, spending on the sciences is again a hot topic as governments work to decide which areas of research to fund and with how much money. In the UK, the government has announced almost £3.5 billion for use in developing supercomputing capabilities, regional innovation accelerators, and workforce skills for the next generation of jobs.
For citizens interested in science, a new bank card offers a way to get involved in the latest research. Called the Science Card, the current account and Mastercard debit card allows members to round-up everyday expenditure to support research projects.
There are two levels of membership available. The Standard account is free, while the premium ‘Fusion’ account costs £19.90 per month. The company is currently working on a new perk for Fusion account holders – the ability to become partial owners of the intellectual property (IP) of a new project. Depending on the commercial success of a project, IP owners could earn passive income for an extended period of time.
Cardholders use the app to explore available research projects and choose which ones to support, either with a direct payment or via micro-grants from rounding up common expenses. The company itself dedicates 10 per cent of its profits to scientific research. Cardholders also receive more conventional benefits such as immersive spending data, and the company plans to offer cashback on certain sales, including books, coffee, and software.
Other positive impact cards spotted by Springwise include a card that provides cashback on environmentally friendly products, a debit card that lets users fund tree-planting as they spend, and a card that powers the circular economy.
Written By: Keely Khoury