Clinkle Offers Students $20 to Sign Up for Debit Card
Clinkle, a mobile payments startup, is offering students from one University $20 to sign up for their debit card. The money is set up in a vending machine on the University of California Berkeley campus where students can get “free money” in exchange for getting the card.
Clinkle is a debit card that offers “treats” in exchange for purchases. Every time you use the card, you get a “treat.” You can send treats to other people with Clinkle cards.
Clinkle users can also send money to one another through a free smartphone app. They may track their spending and shopping habits through the app, and may view their transaction history.
Clinkle received $30 million in funding last year, and is very similar to the money-sharing app, Venmo. Clinkle’s Director of Design, Rob Ryan, wrote on ProductHunt, “Sure, it’s Venmo. But it’s mostly about giving and getting Treats. A campus with Treats flying around is a bundle of surprise and joy.”
Some analysts look down on Clinkle for “bribing” college students to use their debit cards. But the practice is similar to what you may find on a cash back or airlines credit card. The company hopes to build its brand far beyond the Berkeley campus in the near future.