now loading...
Wealth Asia Connect Middle East Treasury & Capital Markets Europe ESG Forum TechTalk
TechTalk
Singapore card rewards with fractional shares
Tiger Brokers aims to promote greater investment awareness, financial literacy
The Asset 29 Feb 2024

Online brokerage firm Tiger Brokers (Singapore), in partnership with WISE Platform, has unveiled its Tiger BOSS debit card that is the first debit card in Singapore that enables users to earn fractional shares for every dollar spent. 

The debit card, the firm notes, addresses myriad challenges faced by beginner investors such as low starting capital, and incorporates easy investing to everyday spending to promote greater investment awareness and financial literacy among investors.

Compared with other reward types like cashback, loyalty points and miles, benefits earned in the form of fractional shares do not have a finite lifespan, with no expiry date or lock-up period, giving investors greater flexibility.

Additionally, fractional rewards, Tiger Brokers argues, can inspire the joy of investing, allowing new investors to experience the financial world and its potential rewards through the power of compounding and the accumulation of wealth over time.

With the card, users can start deploying rewards earned into their investments of choice from the time when a transaction is approved. The shorter duration required to accrue or hold rewards means that investors can free up more capital and make regular investment contributions.

This feature is especially useful for consumers who may not want to spend a minimum amount every month to accumulate rewards and reap the benefits only at a later point, as is commonly required for credit cards. 

Once activated, the card can be added to Apple Pay or Google Pay wallets for contactless payments.

“By linking everyday spending with the card, individuals can access pricier stocks without a large initial investment,” says Ian Leong, CEO of Tiger Brokers (Singapore). “Furthermore, by offering fractional shares as rewards for everyday spending, we aim to introduce newcomers to investment, and foster awareness and confidence in financial markets."

Conversation
Mildred Chua
Mildred Chua
managing director and group head of syndicated finance
DBS
- JOINED THE EVENT -
In-person roundtable
Finding opportunity amid volatility
View Highlights
Conversation
Philippe Tassin
Philippe Tassin
head of asset managers & owners client lines, Asia-Pacific
BNP Paribas Securities Services
- JOINED THE EVENT -
In-person roundtable
Tech in ESG
View Highlights