The news: Visa will let cardholders store their cash-back rewards in Trump accounts, per a post on X.
How we got here: The Trump administration made Trump Accounts part of the One Big Beautiful Bill that Congress passed in July 2024 in response to the building affordability crisis in the US, in an effort to give working families an opportunity to build wealth for their children.
JPMorgan, Bank of America, and American Express have said they will contribute funds to employees’ accounts.
Looking ahead: It’s unclear how Visa will execute this rewards strategy; card reward programs are managed by the issuing banks, not Visa.
Visa likely will have to negotiate individually with partnering banks to determine how cash-back rewards will be deposited into cardholders’ respective Trump Accounts.
Implications for payment providers: The affordability crisis is top of mind for a huge segment of American consumers. Executing rewards or products that help US shoppers navigate rising prices and tightening budgets can help win loyalty as they search for innovative ways to make ends meet.