Select Innovations, Mastercard, Deserve to Launch New Kind of Rewards Card

Luxury membership community Select announced the coming launch of the Select World Elite Mastercard.

The new Select credit card will “combine Select’s robust network of ongoing, significant, and often exclusive member benefits, an uncapped 2% cash back across most spend categories, and World Elite Mastercard benefits.”

Current Select benefits “include savings and perks at over a million premier partner locations across the globe.”

These include significant discounts (15-30%) or complimentary items “at top-tier restaurants across the country, unpublished rates at hundreds of thousands of hotels and resorts that reach as high as 60% off, and ongoing special offers with sought-after brands like BMW, Tumi, Lazzoni, Caraway, and many more.”

Select also hosts “a variety of members-only events in major US cities throughout the year and provides on-demand concierge services for members via the company’s app and website.”

Select’s first foray into financial services “marks a highly anticipated milestone for the company.”

As spending trends continually point towards experiences like dining and travel, the Select™ World Elite Mastercard is “bringing unique functionality and perks to the market, in addition to a highly compelling cash-back program.”

Select’s mission is to continually “improve the lives of its members while helping its partner businesses further loyalty and reach their target demographic.”

Select CEO Carlo Cisco said:

“We are excited about what this means for the Select ecosystem. Offering a customer-focused, lifestyle-improving card, in partnership with financial industry leaders like Mastercard and Deserve, will help us better deliver on our mission and reach a larger audience.”

The card’s waitlist opens now, and they will begin “to allow prospective cardholders to apply for their invitation-only Beta beginning in February 2023.”

Invitations will be “granted sequentially, but current Select members and prospective members who invite others to the waitlist will have priority.”

Kalpesh Kapadia, Co-Founder and CEO of Deserve said:

“We’re excited to work with Select to power the Select™ World Elite Mastercard® and deliver meaningful rewards and point programs to its members,”

The Select™ World Elite Mastercard is “powered by Deserve and the Mastercard network.”

As noted in the update, Select is a financial technology company “known for its next-generation concierge service and membership community that provides access to members-only savings and perks at over a million locations and online.”

These reportedly “include special perks, pricing at hundreds of top restaurants, and exclusive discounts (up to 60% off) with leading global hotel, travel, retail, lifestyle, and entertainment brands.”

In addition, Select hosts “a variety of members-only events ranging from cocktail hours to experiences during Fashion Week and Art Week.” The Select™ World Elite Mastercard® credit card is “launching in early 2023.”

As noted in the announcement, the Select™ World Elite Mastercard® “offers 2% cash back on all spend categories excluding grocery and service industries which earn 1%. Payments toward utilities do not earn cash back rewards.”

As mentioned in the announcement, Deserve is “a credit card platform, providing a mobile-first consumer experience for cardholders and an embeddable API platform for its partners.”

Deserve’s mobile-first capabilities “enable its partners to drive a rich consumer experience, embedded in the partner’s own brand and channels.”

A wide variety of partners “including banks, Fintechs, lenders and merchant co-brands have launched and manage their credit card programs on the Deserve platform.”

Deserve is “a venture-backed Fintech company whose investors include Mastercard, Goldman Sachs Asset Management, Sallie Mae, Ally Ventures, Visa, Accel, Pelion Venture Partners, Aspect Ventures, and Mission Holdings.”

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