Tiger Brokers introduces debit card that gives fractional shares as rewards

It can be added to Apple Pay or Google Pay wallets for contactless payments. 

Online brokerage firm Tiger Brokers (Singapore) has unveiled the Tiger BOSS debit card aimed for investors.

Launched in partnership with Wise, the Tiger BOSS debit card enables users to earn fractional shares for every dollar spent, reportedly the first of its kind.

Tiger Brokers (Singapore) CEO Ian Leong said that they developed the debit card to address challenges faced by new investors, particularly limited capital.

“By linking everyday spending with the card, individuals can access pricier stocks without a large initial investment,” Leong said.

The fractional shares have no expiry date or lock-up period. Users can start deploying rewards earned into their investments of choice from the time when a transaction is approved.

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They also do not need to wait for the physical card to arrive. New users can apply for the card via the Tiger Trade app. Once activated, the Tiger BOSS debit card can be added to Apple Pay or Google Pay wallets for contactless payments.

As part of a launch promotion, users who make an eligible transaction using their Tiger BOSS debit card by 30 April 2024 will receive 1% cashback in Tesla fractional shares and receive S$5 for every successful referral made. 

Users also stand a chance to win S$888 for every three successful referrals.