Credit card

Ragnar Relay taps Paceline for a credit card

Fintech-meets-fitness startup Paceline will partner with Ragnar Relay, a U.S.-based racing series that will be the official credit card for the relay race, according to a press release from Paceline.

Paceline allows users to reap rewards for working out, using an app and a cash back credit card.

The idea is to capitalize on the recent poll which revealed that running a relay race attracts 77% of people, more than marathons, which attract 62%, or 5k, which attract 68%.

In its new workstation with Ragnar Relay, Paceline will offer card members a $200 credit for any entry into a Ragnar Relay race through 2023. The Paceline Rewards App will offer exclusive rewards from Ragnar and its partners, including Athletic Brewing, Nathan Sports and Kodiak Cakes, for those who exercise 150 minutes or more per week.

The Paceline Visa Signature card offers benefits such as doubling the cash back one receives when he reaches his exercise “streak”. Ragnar participants will also be able to access these benefits now.

Ragnar Relay events take place over two days and one night, with teams attempting to travel great distances across the country.

“We are so inspired by what the Ragnarians accomplish together each year,” said Joel Lieginger, CEO and Founder of Paceline. “At Paceline, we want everyone who invests in their physical health to also fully realize its financial value. Our partnership with Ragnar Relay puts a megaphone in our shared goal to inspire, reward and advocate for each other for health and wellness gains every day.

Lieginger recently spoke to PYMNTS about the company’s goals, including trying to motivate people to get in shape, which he wants to do by giving them “tangible financial incentives” to exercise. regularly.

Read more: Paceline rewards consumers for working out and staying healthy

“We’re building this for the next-generation connected consumer,” Lieginger said. “The whole idea of ​​our credit card is to incentivize and foster consumers’ personal health and wellness journeys.”

It comes as only around 25% of Americans get enough exercise, according to some statistics, with two-thirds being overweight and 1 in 10 being diabetic.

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