McDonald's first to use Upromise platform
August 30, 2007
NEWTON, Mass. — Upromise Inc. has announced a new platform for companies to help Americans earn college savings. McDonald's is the first to leverage the platform and bring consumers college savings on a gift card through the McDonald's Arch Card.
Gift cards have become increasingly popular in recent years, with U.S. retail gift card volume reaching more than $18.6 billion in 2006, according to the National Retail Federation.
In addition to earning 1 percent in college saving rewards on the purchase of an Arch Card or when reloading the card's balance, Upromise members will earn rewards from the purchase of McDonald's gift certificates. Upromise members can purchase Arch Cards or gift certificate books at participating McDonald's restaurants, then register the card or certificate online.
