Kora’s Student Virtual Card Offers Cash-Back Rewards

College student-focused FinTech Kora on Tuesday (April 5) launched the Kora Rewards program, a partnership with digital advertising platform Cardlytics that allows Kora users to earn automatic cash-bank rewards up to 10% for shopping with their virtual KoraCard at thousands of brands.

“We’re building Kora to be the premier money app for Gen-Z college students, meeting them where they’ve traditionally been underserved,” said Hao Liu, CEO of Kora, in the company press release. “Students, particularly those new to managing their own finances, have few options to be rewarded for their spending.

“The Kora Rewards program will bring exciting offers and ways to save money, right into the Kora app,” he said.

Through the partnership with Cardlytics, Kora cardholders pay for products with their KoraCard, and the cash back rewards they earn automatically appear in their Kora app. Members can also explore local and national offers on the Kora app. KoraCard is compatible with Apple Pay and Google Pay mobile wallets.

“There is a real need to provide college students with tools that promote healthy financial habits,” said Farrell Hudzik, EVP, Financial Institutions for Cardlytics, in the company press release. “Combining Kora’s unique demographic and mission-focused business with Cardlytics’ cash back offers will positively impact these students by putting money back in their accounts for purchases they make every day.

“Our partnership with Kora is a perfect extension of our company’s purpose of delivering real value to people through an engaging rewards platform, and we are thrilled to watch this space grow,” he said.

Related: Stride Funding, Credit Investors Partner on $105M Student Credit Facility

Earlier this week, Stride Funding teamed with Encina Lender Finance and other credit funds in a bid to get more financial support for students pursuing high-impact boot camp and certificate programs in the U.S. with a $105 million senior credit facility that will let Stride fund more students pursuing alternate education in high-growth technology and trade fields.