English-language learning education technology platform VIPKid has partnered with Mastercard to enable teachers on itsVIPKid platform to receive payments through VIPKid Prepaid Mastercard.
This new payment solution for teachers on the VIPKid platform in the US and Canada is facilitated by daVinci Payments.
Under the partnership, the teachers will be provided with faster access to their earned service fees, in addition to an opportunity to separate business and personal funds. They will be also able to request a companion card for an authorised user.
Mastercard Global Prepaid executive vice-president Sue Kelsey said: “Online education is transforming traditional systems across the globe, particularly during this time when digital classrooms have become vital for students and teachers alike.
“We are thrilled to extend our solutions to the education segment, delivering a solution to the passionate and dedicated VIPKid online teaching community that provides them faster payments and meaningful benefits that fit their lifestyle and financial needs.”
The VIPKid Prepaid Mastercard, which is issued by The Bancorp Bank, is said to feature VIPKid brand and company mascot. Offering tiered card access through a VIPKid Prepaid Mastercard, the teachers on VIPKid platform will be able to access a host of products and offers.
These include instant cash back at thousands of retailers, discounts on financial wellness tools, device protection insurance, and extended retail warranty insurance among others.
This offering is also said to minimise transaction fees for those living abroad.
VIPKid Global Business Development head David Wu said: “Teachers on the VIPKid platform are passionate about teaching students online and the global connections made. They value the flexibility to teach from home and earn an income by setting their own online teaching schedule.
“In the continued spirit of flexibility, we are delighted to work with Mastercard to offer this convenient and very useful form of payment.”
Meanwhile, Mastercard recently extended its partnership with Olympique Lyonnais (OL) women’s team by becoming the official shirt sponsor for domestic games season.