Billy McFarland- the founder and CEO of Magnises
Magnises card has managed to pull out a social club which provides exclusive services to card holders. The services provided by the card are in the form of perks, offers, and discounts. Members get to experience new places in their cities at the best prices. Billy McFarland is the mastermind of Magnises. The overly intelligent McFarland was only 23 years when he decided to start the program.
Magnises has been a huge success since its first day of operation. According to Billy McFarland, the key to business success is the ability to recognize large brands and integrate them to the young community. Most of the brands available today want to sell their products but never know how.
McFarland started the company to connect brands to millennials. He realized that there was so much he could achieve with the black card. He launched a community card that focused on networking and building relationships among members.
According to CNBC, Billy McFarland’s education went till the time he dropped out from Bucknell University. He is also the founder of a content sharing site called Spling. He raised capital for the Magnises Card through investors such as the Deep Fork Capital. The card has received several investors since it was first started in New York City.
Magnises has several members today. The card has grown to be something every millennial wants to own. At the start, it was only for millennials located in New York City. However, some of the members of the card are globally based. Magnises card is focusing on cardholders within a particular region. Billy McFarland states that the card is mostly available for New York City members so as to make the most of the city. The services provided by the card will be availed in other cities shortly.
One thing about the card is that it is not a regular credit card. Instead, it is a card for members that have existing credit or debit cards. Users activate the card through a magnetic strip. The card is about the community. It is more than a simple payment tool that comes with several benefits.