British fintech company Science Card has launched an e-money account to pursue its goal of using customer spending to support scientific projects in the fields of health, climate change and technology.
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Through the free account, Science Card customers can select which UK university project(s) they would like to support and automatically contribute to those projects every time they use their Mastercard Science Card.
When customers make a card payment, Science Card automatically rounds up the amount and uses it to fund research on the topics or projects selected by the customer. Roundups can be multiplied from 1x to 10x and customers can vary the projects to which they round up.
As a socially conscious company, Science Card also donates 10% of its profits directly to the research projects it commissions.
Current research projects that interested parties can support include projects on kidney transplantation, dementia and cervical cancer, which are being carried out at King’s College London, University College London, Newcastle University and Kingston University.
Science Card successfully closed its pre-seed round in February 2023 and became available to UK customers in spring 2024. The Science Card account is provided and the card is issued by Transact Payments Limited, a licensed Electronic Money Institution (EMI) authorized and regulated by the Gibraltar Financial Services Commission. The app-based account allows users to organize their finances through spending pots and send and receive money.
Science Card founder Dr Daniel Baeriswyl said: “The UK is a world leader in research and development and has enormous potential to advance health, technology and tackling climate change. But too many people in these sectors spend their time securing increasingly hard-won funding, distracting them from what matters most and risking vital research never taking place in the first place.
“At Science Card, we want to overcome that. Our mission is to bridge the gap between science and financial services, empowering people to shape our sustainable future and drive groundbreaking breakthroughs and innovations in science and technology – all by simply going about their everyday spending.”
In addition to the rounding feature, Science Card also offers its customers a free e-money checking account service, including:
• Safes for organizing finances
• The ability to send and receive money instantly, both domestically and abroad
• A Mastercard debit card that can be used online, in person or by phone
• Industry-leading security features to protect your account and card
Science Card will donate 10% of its profits directly to the research projects it supports.
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Notes for editors
* https://www.gov.uk/Government/publications/research-development-and-innovation-organizational-landscape-an-independent-review
** https://www.ukri.org/blog/voices-fixing-the-gap-in-research-funding/
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About Science Card
Science Card was founded in 2021 by deep-tech entrepreneur Dr. Daniel Baeriswyl with a mission to build a financial platform that accelerates innovation in science and technology and directly contributes to building a sustainable future. Science Card’s vision is to be the global banking partner in the fight against cancer, climate change and pollution. Their fully-featured e-money checking accounts and Mastercard debit card enable their customers to become part of a movement to create a sustainable world by simply conducting their normal daily transactions. Science Card bridges universities and banks, funding scientific research and innovation from both its own profits and its customers’ contributions. Science Card enables its customers to explore and participate in scientific research projects in the fields of climate change, healthcare and computer science, with a particular focus on achieving Net Zero, improving health equity, creating healthy oceans, enabling carbon-neutral cities and strengthening food security. Science Card successfully completed its pre-seed round in February 2023 and became available to UK customers in spring 2024. The Science Card account is provided and the card is issued by Transact Payments Limited, a licensed Electronic Money Institution (EMI) authorized and regulated by the Gibraltar Financial Services Commission.
