Railsr partners with Maslife to launch a finance app
By Leandra Monteiro
Railsr, a global embedded finance experiences platform, is partnering with Maslife to launch a finance app that combines financial health and mental wellbeing, supported by Mastercard and Checkout.com.
The Maslife-solution is based on documented research that mental and physical wellbeing has a huge impact on financial health. Maslife is combining payment and banking features with a mix of gamification and artificial intelligence to inspire users to make simple changes to their daily routines that lead to long-term positive results.
The Maslife app combines a full suite of high-tech mobile bank functionalities with integrated budgeting tools and places a strong emphasis on fitness, with exercise trackers, yoga tutorials and meditation workshops specifically devised to keep users moving and motivated. Maslife is also launching Apple Pay/Google Wallet functionality, supported by Mastercard.
Kash Amini, founder and CEO of Maslife, said, “The team and I are amazed by the overwhelming support and positive reaction to Maslife. No other app on the market does what ours can, with Maslife’s unique approach to improving people’s lives by taking care of their finances while simultaneously supporting their health and mental wellbeing. Our journey is just starting. In the near future we will offer a wide range of modern payment services including a crypto (digital asset) wallet. This allows users to buy, sell and hold crypto, addressing the increasing demand for hybrid traditional and crypto payment services.” Maslife is currently building a B2B platform to offer businesses and their employees tailored well-being features and branded debit-card, this will roll out in Q1 2023.
The Maslife app launched the Beta version in May 2020 and quickly attracted over 6,500 active participants. It has a current waitlist of some 28,000 users. The full UK launch is planned for 12th September, 2022, with a European roll-out into Germany, France and Italy during the second quarter of 2022 currently valuing the company at around £22m.
Railsr, a Mastercard Fintech Express Partner, provides Maslife with a number of services via its leading global embedded finance experiences platform. These include card issuing and processing services, Banking-as-a-Service and licensing, enabling Maslife to provide virtual and physical cards, and dedicated accounts, to its users.
Louisa Murray, Global Head of Key Customers and Channel Partners at Railsr, said, “We are pleased to be partnering with Maslife in this exciting project. It is the kind of initiative that we look for in a partnership, and we are looking forward to providing the support and services they need for the company to grow and thrive.”
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