NestEggz Loyalty Rewards programme launched
The US-based microinvesting technology firm, Vesdia Corporation (formerly BabyMint), has announced the launch of its 'NestEggz Loyalty Rewards' programme, designed to help consumers accumulate assets in tax-advantaged retirement accounts.
Through the NestEggz programme, members receive up to a 20% rebate on everyday purchases made through Vesdia's network of more than 700 retailers and 127,000 grocery stores, which include brands such as Gap, Barnes & Noble, Dell and Blockbuster.
Retailer and grocery rebates are automatically tracked and deposited in the consumer's Individual Retirement Account (IRA), or almost any other retirement savings vehicle of the consumer's choice.
According to Financial Research Corporation (FRC), merchant and credit card rebates such as those offered by Vesdia have the potential to represent an incremental total of US$1.1 billion per year in assets for individual investors.
The NestEggz programme also offers its members double rebates through the use of a credit card. The programme's Loyalty Rewards credit card features a 1% cash-back rebate, with no annual fee, and no limit to the amount of rebates that can be earned.
"NestEggz is an advance in the microinvesting concept because it allows investors to direct rebates from their everyday shopping into almost any retirement savings plan," explained Vesdia's CEO, Peter Davis.