Greenwood, a digital banking platform for Black and Latino individuals and business owners, has partnered with Mastercard to roll out its first debit card.
The Greenwood matte black debit Mastercard is said to provide a range of security and concierge benefits for the cardholders.
It will also offer giveback programmes that support Black and Latino causes and businesses.
Greenwood and Mastercard will deliver an Enhanced Mastercard debit programme, under which all members will receive financial management services and protections such as ID theft protection.
Cardholders can upgrade to Greenwood Premium membership offering services and products such as Identity Fraud Expense Reimbursement, luxury travel services, and discounted access to private golf courses, and Priceless Lessons, among other things.
In addition to the card, Greenwood and Mastercard are also planning to launch financial education tools to the market.
This includes a daily podcast offering educational content on financial planning, banking, home ownership, and wealth creation.
Greenwood chairman and co-founder Ryan Glover said: “Mastercard’s desire to partner with us to produce content that will speak directly to our community while also providing access to the exclusive World Debit program means Greenwood customers will get a best-in-class product and the tools to grow wealth. Both of these benefits map directly to our mission.”