October 14, 2015
Prepaid product provides access to the U.S. stock market
PLEASANTON, Calif. – [Press Release] – Blackhawk Network, Inc., a leading prepaid and payments network, and Stockpile, Inc., the company that pioneered eGift Cards for stock, announced today that Stockpile’s Gift Cards for Stock are available at select U.S. retailers. This prepaid gift card can be redeemed online to open and fund an account with stock. Consumers may buy the prepaid card as a gift for others or buy it for themselves.
Stockpile’s gift card comes in fixed denominations of $25, $50 and $100. It may be redeemed for a variety of popular stocks or exchange traded funds (ETFs) such as the NASDAQ or S&P 500. When you redeem a Stockpile gift card and open a brokerage account, you get fractional shares of real stock that you choose.
The Gift Card for Stock can revolutionize the way people access the stock market by providing gift cards in retail locations, said David Tate, Blackhawk Network senior vice president, products and marketing. As a pioneer of prepaid gift cards, payments tools and rewards, the launch of the Gift Card for Stock was a natural advancement for Blackhawk Network. We’re pleased to work with Stockpile to bring our network of retailers a brand new product category that promotes financial inclusion.
According to a September 2015 poll* of over 2,000 Americans over the age of 18 commissioned by Blackhawk, only 28 percent of American adults own stock. Blackhawk’s poll also found that 73 percent of millennials, between ages 18 to 34, do not own stock. They attribute the barriers to their participation in the stock market primarily to lack of knowledge about how to buy stock and limited investment budget. Despite these barriers, millennials are still interested in alternative ways to invest. Finally, Blackhawk’s poll found that 54 percent of millenials would be interested in purchasing stock if it were as easy as buying a gift card in a grocery store or other retailer that could be redeemed online.
Investing in the stock market can be an intimidating and confusing experience. We’ve made it accessible and easier, said Avi Lele, founder and CEO of Stockpile. We’re excited to work with Blackhawk to bring our Gift Cards for Stock to the market. We think it’s a more personal, longer-lasting gift that helps people own shares in their favorite companies.
Gift Card for Stock is easy to use:
1. Buy this prepaid card off the gift card rack at a participating retailer.
2. Enter the claim code at stockpile.com.
3. Sign up for a brokerage account and redeem for stock of your choice or a retailer gift card available at stockpile.com.
Gift Card for Stock is a gift card with a fixed value and is not a stock or other security or a recommendation to buy any specific stock or other security. Securities transactions are executed by Stockpile Investments, Inc., SEC registered broker-dealer, member FINRA/SIPC. Gift Card for Stock is issued by Stockpile Gifts, Inc.
As we approach the holiday season, we think Gift Cards for Stock will appeal to consumers who want to give something more meaningful. This is a great gift to teach someone about investing or dip your toe in the market for the first time, said Tate.
Stockpile’s Gift Card for Stock is distributed by Blackhawk Network. Here are the first stores to have the gift cards available:
- Buehler’s Fresh Foods (all locations in Ohio)
- Giant Eagle and Market District (all locations in Maryland, Ohio, Pennsylvania, West Virginia, and Indiana)
- Safeway (18 locations in Seattle, Wash.)
- Wegmans Food Markets (all locations in Maryland, Massachusetts, New Jersey, New York, Pennsylvania and Virginia)
About Blackhawk Network
Blackhawk Network Holdings, Inc. (NASDAQ: HAWK) is a leading prepaid and payments global company, which supports the program management and distribution of gift cards, prepaid telecom products and financial service products in a number of different retail, digital and incentive channels. Blackhawk’s digital platform supports prepaid across a network of digital distribution partners including retailers, financial service providers, and mobile wallets. For more information, please visit .
Stockpile is revolutionizing the investment world by making the purchase of stock as easy as buying a gallon of milk. Stockpile Gift Cards—now available at major grocery stores and retailers in addition to online—can be redeemed for stock in your favorite companies. Buy them for yourself or give them to friends and family of any age with no account minimum. Founded in 2010 and headquartered in Palo Alto, Calif., Stockpile promotes financial inclusion, empowerment, and literacy by enabling access for all to the financial markets. To learn more about this convenient and delightful way to invest, visit.