Personal Finance Rewards Program Combines Game Mechanics and Behavioral Economics to Help Consumers Better Track Their Finances, SaveUp, the nation’s first free rewards program for saving money and paying down debt, today announced the launch of the SaveUp App for iPhone and iPod touch, designed to allow users to play their way to a better financial future. SaveUp allows consumers to monitor their finances on the go while being rewarded with prizes for their hard work as they save and reduce debt. SaveUp is the first personal finance program of its kind, combining gamification and behavioral economics to help Americans build a daily habit of engaging with their finances in a fun and encouraging way.
With this app, SaveUp now allows its users to register their financial accounts from more than 19,000 financial institutions, track progress and play for prizes on a daily basis directly from their iPhone and iPod touch. SaveUp prizes range from gift cards at major retailers, vacations, cars, electronics and scholarships to cash prizes including the SaveUp Super Jackpot of $2 million.
“SaveUp was designed as a tool to make healthy financial decisions fun and rewarding. We’ve been blown away by the adoption and participation rates on our website and are thrilled to be offering an app for iPhone and iPod touch,” said Priya Haji, CEO, SaveUp. “SaveUp is the only tool available that provides a simple, engaging and educational way for consumers to organize their finances, while rewarding them as they work towards their financial goals.”
How it works:
Changing financial habits is not an easy objective. In a recent SaveUp user survey, more than half of respondents said that SaveUp has helped them save more and pay off more debt, and 71 percent said they enjoyed the daily thrill of entering for big prizes. SaveUp is succeeding by using behavioral economics and gamification to drive people to engage more frequently with their finances. The majority of web app users use the program to track their finances and play for prizes more than once per week. With the increased accessibility of the iPhone and iPod touch app, SaveUp hopes to help even more Americans achieve their goals and improve their financial habits in a fun new way.
According to SaveUp user Jeffrey S., “SaveUp is a great way to track my financial progress in paying down debt and increasing my savings. Playing for prizes is just icing on the cake.”
SaveUp has bank level encryption that keeps your information safe and access to the app is guarded by a 4-digit passcode. Money cannot be transferred into or out of your account through the app. Deposits to any checking, savings, IRA or 401k account and payments to your credit card, auto loan, mortgage, or student loan bills, earn you credits to play for prizes. SaveUp uses Intuit aggregation technology and can function with your existing accounts at over 19,000 financial institutions. Users can also view their weekly spending to help them track progress on their financial goals.
The SaveUp App is available for free from the App Store on iPhone and iPod touch or at www.AppStore.com.
Founded in 2011, San Francisco-based SaveUp is the first free nationwide rewards program that encourages Americans to save money, pay down debt and make positive financial changes. By partnering with major consumer brands and financial institutions, SaveUp gives users the opportunity to win exciting prizes for performing positive financial actions. Individual user information is secure on the site with bank level encryption. Intuit provides the back-end aggregation technology and SaveUp has completed a bank-level security audit. Please visit www.SaveUp.com for more information.
SaveUp, Inc./Marketwire
