October 8, 2025 • 7 mins
Sharesies is launching its own debit card today and promising the new product will be a change from traditional card reward programmes.
The micro-trading platform says the Sharesies Debit Mastercard will earn customers 1% “Investback”.
That meant earnings accrued from using the card would automatically be invested on a weekly basis into a nominated investment on the Sharesies app.
Sharesies Personal General Manager Scott Nixon joined the Afternoons team to discuss further.
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Episode Transcript
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Speaker 1 (00:00):
Joining us now is general manager of Chesy's Personal Scott
nexton very good afternoon, Scott.
Speaker 2 (00:05):
Hi, guys, good afternoon to you too.
Speaker 3 (00:07):
How does this new debit card work, this new master
card Chersi's collab work.
Speaker 2 (00:14):
Yeah, so it's so as you said, it's it's a
master card, so you can use it like you do
any other MasterCard. So it's accepted all over the world.
What happens is, as you are spending, we are clocking
up in the background what one percent of that total
spend amount is, and then each week we will invest
that on your path.
Speaker 3 (00:35):
So just to get this straight, so this is additional
money or is it a percentage of your money being
put into ch' Is this a rewards a one percent
rewards situation?
Speaker 2 (00:48):
Great question, yet, so this is a reward, So this
is additional money. So if you spend one hundred dollars
at the grocery store, then we are going to give
you a dollar which we put in to an investment.
Speaker 3 (01:01):
Wow, and so you would pick which particular investment you
were going to channel that money into as a customer.
Speaker 2 (01:07):
Yeah, yeah, We're we are intending to be able to
offer lots of choice in terms of what people can
invest in. We're still in a sort of an early
access phase for this product, so we've got some early
beta users who are starting to accrue their invest back,
(01:27):
and over time, sort of the next month or two,
we're intending to be able to give people choice for
what they would like to invest in. I'm sure we
get lots of feedback of what people would like to
invest in, and we'll hopefully make more options available over time.
Speaker 3 (01:41):
And of course FOMO is a huge part of the
financial system. So I understand that do you have a
waiting list of thirty thousand? Did I read that somewhere
that there's a huge waiting list to get one of
these cards? Is that correct?
Speaker 2 (01:55):
Correct? Yep, it's actually about thirty two thousand.
Speaker 3 (01:57):
Now, okay, all right, right, someone on that.
Speaker 2 (02:01):
Started talking about us.
Speaker 3 (02:05):
So, just just in the widest Cheersys things, how did
Cheersys go through the recent downturn. I'm not talking about
the actual stocks that you can investment on Cheers's, but
as a company, as a fintech company, how do you
go through the ups and downs yourself?
Speaker 2 (02:23):
Yeah, I guess we're like any company. We're always reacting
to the external environment. Actually, we've had a great few
years platforms growing really strongly. So we've put on over
one hundred and fifty thousand cutomers in the last twelve
months alone, and last quarter we traded so three point
(02:43):
three billion. So yes, acknowledge it's been a tough time
out there in the Broad and Zealand economy. But actually
we've seen quite a lot of success and that sort
of you know, as we've seen the customer base continue
to grow and you know, people making you know, wanting
to do more investing with us.
Speaker 1 (03:03):
There's been a bit of criticism for international platforms that
are similar robin Hood, and there's been a couple of others
about the gamification of the shares market. Is that thought
about within Shares's is there? You know, you're pretty front
loaded with information for people to digest when they get
into it. Because it's great that you've taken down the hurdles,
but that other side of the equation, trying to get
(03:25):
your users knowledgeable and educated about the financial markets.
Speaker 3 (03:28):
Is that a big part of it.
Speaker 2 (03:31):
Absolutely. I mean, I think I've been here sort of
three and a half years, so you know, I can't
take a huge amount of credit for all this, but
the team when they started up Shares, he's back eight
years ago. You know, put a lot of thought and
effort into education and the content around that, and I
think that's really borne out by the behavior we see
(03:53):
on the platform with people making you know, good regular
taking a long term view of their investing, doing their research,
and you know, we've got a significant amount of educational
content that we offer to investors. So we've never really
thought about it as game gamifying. Initially, we've thought about
it as access. You know, people just felt sort of
(04:14):
priced out, jargoned out of the market, very hard to access,
and so you know, we've been able to remove many
of those barriers and then alongside that educational content I
think has been really hopeful for people.
Speaker 3 (04:26):
So you speak, you talk about access there. So the
people that use Cheers's and there's I understand what over
eight hundred and fifty thousand users of Ers's eight hundred
and eighty, eight hundred and eighty people bound that thirty thousand,
more than eight fifties. So I'm not going to sell
you short there, But do you think they were people
(04:47):
that would have got into Shares in a traditional way
or do you think that that's opened up you know,
generally speaking, people that would never have got to shares.
Speaker 2 (04:57):
Look, I think it's both. But initially when we started,
I think, you know, our founders will talk about the
fact that they went to you know, they went around
the country talking to people, and they would go into
rooms and ask people to put up their hand if
they consider themselves investors, and hardly anyone will put their
hand up. Now when they speak at conferences and things
that ask the same question, and most of the room
will put their hand up. So definitely it has opened
(05:20):
up investing to a whole new generation of people. But equally,
as our platform has grown, as we've added more products
and services and features, you know, we're definitely seeing more
people switching their their portfolios into Chairsy's so who were
already investing, but now we'd like to do that through us.
So it's definitely a mix of both of those groups.
Speaker 3 (05:39):
I think we're talking to Scott Nixon, general manager Chersi's personal.
Will there ever be a situation where we get a
Chaersy's inception moment with Cheersy's going public and chars He's
being on Cheers's.
Speaker 2 (05:51):
A's that's probably a questions, but above my pay grades careful.
I'll leave those kinds of ones for our executive officers
to front, all right. I love the inception reference though.
Speaker 1 (06:05):
Yeah, very good. And just finally, if people want to
get on the waiting list for this new MasterCard product,
how do they do that?
Speaker 2 (06:12):
Yep, they can go to our website ches A, dot co,
dot nzed. You can see spend there and there's there's
you can check your email address and join the wait list.
And we've got the team here working pretty hard. Try
and get through that weight list as quickly as we can.
Speaker 1 (06:26):
If you've got a rolling ticker, what's it on? You said?
Thirty two thousand? Can you see if it's gone up
another another five hundred?
Speaker 2 (06:31):
Do you know? If you give me, can you do
three seconds of radio filler?
Speaker 3 (06:35):
And I will add yeah, ready to fillers. Basically Tyler's
full time job.
Speaker 1 (06:41):
Go for it absolutely. Just while you're finding those numbers,
there's plenty of tecks coming through. Actually, we've got a
couple more questions for you just before we let you go, Scott,
but you just yelling my year. As soon as you've
found that updated number thirty three.
Speaker 2 (06:54):
Thousand and thirty seven, yes, I can give you four
there you go.
Speaker 1 (06:58):
It's good, all right, we went up a thousands, great fellow, Tyler, Yeah,
thank you.
Speaker 3 (07:02):
I could hardly notice.
Speaker 1 (07:03):
It was terrible on my part, but see us. Yeah,
seemless but great to chat to you mate, and congratulations
on the product that sounds like it's going to go well.
Speaker 2 (07:11):
Thank you very much, appreciate your time.
Speaker 1 (07:12):
That is Scott next and general manager of Shearsy's Personal
Speaker 3 (07:16):
For more from Hither Duplessy, Allen Drive listen live to
news talks it'd be from four pm weekdays, or follow
the podcast on iHeartRadio
Joining us now is general manager of Chesy's Personal Scott
nexton very good afternoon, Scott.
Speaker 2 (00:05):
Hi, guys, good afternoon to you too.
Speaker 3 (00:07):
How does this new debit card work, this new master
card Chersi's collab work.
Speaker 2 (00:14):
Yeah, so it's so as you said, it's it's a
master card, so you can use it like you do
any other MasterCard. So it's accepted all over the world.
What happens is, as you are spending, we are clocking
up in the background what one percent of that total
spend amount is, and then each week we will invest
that on your path.
Speaker 3 (00:35):
So just to get this straight, so this is additional
money or is it a percentage of your money being
put into ch' Is this a rewards a one percent
rewards situation?
Speaker 2 (00:48):
Great question, yet, so this is a reward, So this
is additional money. So if you spend one hundred dollars
at the grocery store, then we are going to give
you a dollar which we put in to an investment.
Speaker 3 (01:01):
Wow, and so you would pick which particular investment you
were going to channel that money into as a customer.
Speaker 2 (01:07):
Yeah, yeah, We're we are intending to be able to
offer lots of choice in terms of what people can
invest in. We're still in a sort of an early
access phase for this product, so we've got some early
beta users who are starting to accrue their invest back,
(01:27):
and over time, sort of the next month or two,
we're intending to be able to give people choice for
what they would like to invest in. I'm sure we
get lots of feedback of what people would like to
invest in, and we'll hopefully make more options available over time.
Speaker 3 (01:41):
And of course FOMO is a huge part of the
financial system. So I understand that do you have a
waiting list of thirty thousand? Did I read that somewhere
that there's a huge waiting list to get one of
these cards? Is that correct?
Speaker 2 (01:55):
Correct? Yep, it's actually about thirty two thousand.
Speaker 3 (01:57):
Now, okay, all right, right, someone on that.
Speaker 2 (02:01):
Started talking about us.
Speaker 3 (02:05):
So, just just in the widest Cheersys things, how did
Cheersys go through the recent downturn. I'm not talking about
the actual stocks that you can investment on Cheers's, but
as a company, as a fintech company, how do you
go through the ups and downs yourself?
Speaker 2 (02:23):
Yeah, I guess we're like any company. We're always reacting
to the external environment. Actually, we've had a great few
years platforms growing really strongly. So we've put on over
one hundred and fifty thousand cutomers in the last twelve
months alone, and last quarter we traded so three point
(02:43):
three billion. So yes, acknowledge it's been a tough time
out there in the Broad and Zealand economy. But actually
we've seen quite a lot of success and that sort
of you know, as we've seen the customer base continue
to grow and you know, people making you know, wanting
to do more investing with us.
Speaker 1 (03:03):
There's been a bit of criticism for international platforms that
are similar robin Hood, and there's been a couple of others
about the gamification of the shares market. Is that thought
about within Shares's is there? You know, you're pretty front
loaded with information for people to digest when they get
into it. Because it's great that you've taken down the hurdles,
but that other side of the equation, trying to get
(03:25):
your users knowledgeable and educated about the financial markets.
Speaker 3 (03:28):
Is that a big part of it.
Speaker 2 (03:31):
Absolutely. I mean, I think I've been here sort of
three and a half years, so you know, I can't
take a huge amount of credit for all this, but
the team when they started up Shares, he's back eight
years ago. You know, put a lot of thought and
effort into education and the content around that, and I
think that's really borne out by the behavior we see
(03:53):
on the platform with people making you know, good regular
taking a long term view of their investing, doing their research,
and you know, we've got a significant amount of educational
content that we offer to investors. So we've never really
thought about it as game gamifying. Initially, we've thought about
it as access. You know, people just felt sort of
(04:14):
priced out, jargoned out of the market, very hard to access,
and so you know, we've been able to remove many
of those barriers and then alongside that educational content I
think has been really hopeful for people.
Speaker 3 (04:26):
So you speak, you talk about access there. So the
people that use Cheers's and there's I understand what over
eight hundred and fifty thousand users of Ers's eight hundred
and eighty, eight hundred and eighty people bound that thirty thousand,
more than eight fifties. So I'm not going to sell
you short there, But do you think they were people
(04:47):
that would have got into Shares in a traditional way
or do you think that that's opened up you know,
generally speaking, people that would never have got to shares.
Speaker 2 (04:57):
Look, I think it's both. But initially when we started,
I think, you know, our founders will talk about the
fact that they went to you know, they went around
the country talking to people, and they would go into
rooms and ask people to put up their hand if
they consider themselves investors, and hardly anyone will put their
hand up. Now when they speak at conferences and things
that ask the same question, and most of the room
will put their hand up. So definitely it has opened
(05:20):
up investing to a whole new generation of people. But equally,
as our platform has grown, as we've added more products
and services and features, you know, we're definitely seeing more
people switching their their portfolios into Chairsy's so who were
already investing, but now we'd like to do that through us.
So it's definitely a mix of both of those groups.
Speaker 3 (05:39):
I think we're talking to Scott Nixon, general manager Chersi's personal.
Will there ever be a situation where we get a
Chaersy's inception moment with Cheersy's going public and chars He's
being on Cheers's.
Speaker 2 (05:51):
A's that's probably a questions, but above my pay grades careful.
I'll leave those kinds of ones for our executive officers
to front, all right. I love the inception reference though.
Speaker 1 (06:05):
Yeah, very good. And just finally, if people want to
get on the waiting list for this new MasterCard product,
how do they do that?
Speaker 2 (06:12):
Yep, they can go to our website ches A, dot co,
dot nzed. You can see spend there and there's there's
you can check your email address and join the wait list.
And we've got the team here working pretty hard. Try
and get through that weight list as quickly as we can.
Speaker 1 (06:26):
If you've got a rolling ticker, what's it on? You said?
Thirty two thousand? Can you see if it's gone up
another another five hundred?
Speaker 2 (06:31):
Do you know? If you give me, can you do
three seconds of radio filler?
Speaker 3 (06:35):
And I will add yeah, ready to fillers. Basically Tyler's
full time job.
Speaker 1 (06:41):
Go for it absolutely. Just while you're finding those numbers,
there's plenty of tecks coming through. Actually, we've got a
couple more questions for you just before we let you go, Scott,
but you just yelling my year. As soon as you've
found that updated number thirty three.
Speaker 2 (06:54):
Thousand and thirty seven, yes, I can give you four
there you go.
Speaker 1 (06:58):
It's good, all right, we went up a thousands, great fellow, Tyler, Yeah,
thank you.
Speaker 3 (07:02):
I could hardly notice.
Speaker 1 (07:03):
It was terrible on my part, but see us. Yeah,
seemless but great to chat to you mate, and congratulations
on the product that sounds like it's going to go well.
Speaker 2 (07:11):
Thank you very much, appreciate your time.
Speaker 1 (07:12):
That is Scott next and general manager of Shearsy's Personal
Speaker 3 (07:16):
For more from Hither Duplessy, Allen Drive listen live to
news talks it'd be from four pm weekdays, or follow
the podcast on iHeartRadio
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