Yoppie partners with Revolut to cover period costs for Metal customers so they can invest in their financial well-being instead.
Invest In Yourself Campaign
Revolut, the financial superapp with more than 16 million customers worldwide, launched the campaign “Invest in Yourself” to promote financial well-being amongst women.
The campaign sees Revolut partner with the leading organic menstrual wellness care provider, Yoppie, the subscription platform and manufacturer of a wide range of menstrual care products for each subscriber’s unique menstrual cycle, all discreetly delivered to their doorstep. Existing Metal subscribers and all those who upgrade to Metal from the 17th November 2021 to the 28th February 2022, will get their menstrual care costs covered by Revolut every month for an entire year as long as they’re on the plan.
Of all Revolut’s four plans, Metal gives access to the widest range of investment products – enabling people to start investing from less than £1. Much more than just a marketing campaign, the aim is to encourage women to save on menstrual care costs and invest for their future instead. With “Invest in Yourself”, Revolut stays true to its mission of empowering customers to take control of their finances and prioritise their financial future.
Unfair Period Care Costs, Less Financial Freedom
The UK abolished the 5% Value Added Tax (VAT) on women’s sanitary products, often referred to as the “tampon tax”, in January 2021. But the size of the tax reduction is unfortunately still very small, as, according to Yoppie, the costs for period care start from £2,06 for a pack of 20 lower quality tampons. On an average cycle of 28 days, these costs add up to a basic cost of £26 to £61.20 a year – depending on the chosen menstrual care product. Or £1,000 to £2,326 in a lifetime, as the average woman menstruates from age 13 until age 51. Not to mention extra costs such as pain relief (£4,127 in a lifetime), wet wipes (£912 from menarche to menopause) or new underwear (a minimum of £242 over the years). Money that could be better saved or invested – instead of increasing the gender wealth gap.
Normalising Periods (And Investments)
For most women, period care and personal hygiene are significant factors associated with personal and emotional well-being. Yet so is having control over their finances, as this increases financial wellness and can empower them to develop a strong financial identity. Still, according to Revolut data, men show higher usage of crypto or commodities in the Revolut app – up to twice as much as women.
The campaign “Invest in Yourself” was specifically designed to encourage women to save and invest money independently. By covering the costs of menstrual care products, Revolut enables women to focus on their financial future.
Existing Metal clients or clients who upgrade to a Metal plan by the 28th February will be eligible for free annual subscriptions at Yoppie, ‘the’ female-owned menstrual wellness brand and producer of organic menstrual care products. The offer includes tampons, pads, liners, PMS busting supplements and hormonal skincare facemasks. The chosen products will be shipped on regular cadence depending on every woman’s unique cycle. Revolut clients who upgrade to Metal will effectively earn up to £5 cashback every month that can be used to go ahead on financial goals – with 0.40% savings vaults and investments in crypto or commodities starting from as little as £1.
The campaign will be available for every client to redeem regardless of their gender, as everyone has someone in their life who gets their period. So even if a Metal customer wouldn’t use menstrual products themselves, they can always give them to someone who might need them.
Tara Massoudi, Product Operations Lead at Revolut:
“Getting people back in control of their finances has been Revolut’s mission from day one. Now we also want to give back to women the money they spend on their menstrual care. Products like tampons or pads are essential items and we don’t think that people who get their period should have to pay for them. Instead, they could use this money to save up and invest and potentially increase their capital.”
With this campaign, Revolut wants to create more awareness about the importance of financial wellness and the way this influences the physical, mental and social well-being of women in the UK.