Russell Simmons' Rush Card Targets Smartphone Users With New App
Hip-Hop mogul Russell Simmons is targeting smart phones with a new app for his pre-paid credit card, Rush Card.
Simmons company recently released an Android and iPhone app for Rush Card users that allows them to transfer phones, view their balance, and.
"The Android and iPhone apps are yet another channel we've provided to members to help them manage their money on the go," said Ram Palaniappan, President of RushCard. "Since many of our cardholders are using web-enabled phones, the RushCard apps provide an invaluable money management tool for busy cardholders."
Simmons' Rush Card has come under fire from critics who say the card is loaded with hidden fees and high interest rates.
In June, Rush Card was subpoenaed along with other pre-paid credit card companies by the Florida attorney general, who is investigating the industry.
Simmons himself has denied allegations and maintained that the card, which is a play on his Hip-Hop nick name "Russell Rush," is a useful tool for consumers who seek to rebuild their credit.
"I completely welcome any and all debate, discussion and understanding about the best companies in the prepaid debit card industry, which my RushCard company helped found," Russell Simmons said. "The RushCard is extremely transparent in terms of the presentation of its fees and its services. All of the information is available for everyone to see on rushcard.com."
In 2001, Russell Simmons launched his "Hip-Hop Summits," which focused on a number of pertinent issues to the Hip-Hop community, including financial literacy.
He launched the Rush Card in 2006 with financial services/debt purchasing company Unifund, along with a national advertising campaign.
"RushCard is the solution for people who want affordable financial services that they can customize to suit their needs," Simmons added. "As I look at the payments landscape, I see the banks as the large record chains and my RushCard is looking a lot more like iTunes. I welcome the public debate because the more educated the consumers are the more successful we become."