Click here to close now.


News Feed Item

MAGIC By Magic Johnson™ Prepaid Mastercard® Adds Two New Ways To Save Money: MAGIC Mojo Savings Goals And Free ATM Transactions At More Than 23,000 ATMs

LOS ANGELES, Dec. 18, 2012 /PRNewswire/ -- The MAGIC by Magic Johnson Prepaid MasterCard today announces the launch of MAGIC Mojo Savings Goals and that it has joined the MoneyPass surcharge-free ATM network.  MAGIC Mojo makes saving money fast, free and fun.  Cardholders set a savings goal, and then save money towards that goal by sending text messages whenever they want to make a save.  The MoneyPass surcharge-free ATM network gives cardholders access to free ATM usage at over 23,000 ATMs nationwide. 

(Photo: )

(Logo: )

"We are working hard to provide our cardholders with more tools and product features to save money and help better manage their finances," says Earvin "Magic" Johnson, Chairman and CEO of Magic Johnson Enterprises. "One of the features we are most excited about is MAGIC Mojo Savings Goals. We partnered with to encourage our cardholders to change the way they think about saving money, and to start saving in a fun way by picking up their phone instead of pulling cash out of their wallet, and by doing that, they will see how quickly their savings adds up."

Going From Impulse Buys to Impulse Saves

For many people, and particularly those on a tight budget, the only way to save more is to spend less.  MAGIC Mojo inspires users to do just that by making impulse saves rather than impulse purchases.  Now whenever cardholders make a smart move like eating at home instead of dining out or buying something on sale, they can save the money by simply sending a text message and the money will be transferred toward their savings goal.

First, they enroll in MAGIC Mojo at and set a goal -- such as enrolling in classes, taking a vacation, paying off debt or setting aside for an emergency fund. They also set up the total goal amount and time to reach their goal.  MAGIC Mojo then breaks that goal into smaller, more achievable weekly savings targets and sends weekly text reminders and encouragement to help cardholders stay on track. 

Every time cardholders save money by not making a purchase or spending less on a purchase by shopping smart, they simply send a text message that starts with the word "Magic" followed by the dollar amount saved and a brief description. For example, "Magic 7 didn't eat lunch out." The money is transferred from the spending side of their MAGIC prepaid card to the savings side and the user is now $7 closer to reaching their savings goal.

Adds Johnson, "With MAGIC Mojo, cardholders will save more than they thought they could, improve their spending and savings habits, and reach their goals faster." 

MAGIC Mojo is powered by 

More Access, Less Fees

To help cardholders save even more money, MAGIC cardholders can now make surcharge-free transactions at any MoneyPass Network ATMs nationwide. Cardholders can easily find the nearest MoneyPass location to where they live, work and travel on the MAGIC card Facebook app or by going to the MoneyPass ATM Locator App.

MAGIC cardholders now have a chance to add to their savings by entering to win a $5,000 cash grand prize from the "MoneyPass Watch to Win" Sweepstakes. Entering the Sweepstakes is easy. Those who go to the MoneyPass Facebook page, "Like" it, and watch a one-minute video by December 31, 2012 are entered. No purchase necessary to enter or to win.

The MAGIC card offers an alternative payment solution that is safer and more convenient than cash as well as provides money management tools that empower customers to take steps toward greater financial security. It can be used to withdraw cash at ATMs or used for purchases at millions of merchants worldwide anywhere MasterCard is accepted. All funds are FDIC-insured.

To learn more about the MAGIC prepaid card, visit

Magic Johnson Enterprises acts as a catalyst for driving unparalleled business results for its partners and fosters community/economic empowerment by making available high-quality entertainment, products and services that answer the demands of ethnically diverse urban communities. For more information, visit

OneWest Bank is a Southern California-headquartered bank and is focused on delivering personalized, relationship-based banking to its customers.  The bank has 74 retail branches conveniently located throughout Southern California to serve consumers and businesses, small and large. With total assets of $26 billion and $15 billion in deposits, OneWest has the size and the strength to offer a wide array of banking products and services, locally and nationally, and the stability to protect its depositors.

Piggymojo has redesigned the experience of saving money so that it feels good.  The company's method of impulse saving, combining goal visualization, social dynamics and mobile technologies, won patent #8,090,656.  For its leadership in Financial Capability, Piggymojo received an investment of $300,000 from the Center for Financial Services Innovation.  Piggymojo has been featured in American Banker, Parenting Magazine, Fox Business, CBS Moneywatch and Yahoo Finance. 

MoneyPass is a network of Elan Financial Services, one of the nation's leading providers of comprehensive ATM and debit card processing solutions for financial institutions, Independent Sales Organizations (ISOs), and retailers. MoneyPass provides surcharge-free access at more than 23,000 ATMs across the United States, allowing cardholders to access their money where they live, work and travel. With more than 1,500 participating organizations and 60 million active cards, MoneyPass is a rapidly growing surcharge-free network whose emphasis is on cost-efficient membership options, flexible terms and accessible locations. MoneyPass cardholders can easily locate MoneyPass ATMs by visiting the online ATM locator at For more information, call 1-800-343-7064 or visit

SOURCE Magic Johnson Enterprises

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
In his General Session at DevOps Summit, Asaf Yigal, Co-Founder & VP of Product at, explored the value of Kibana 4 for log analysis and provided a hands-on tutorial on how to set up Kibana 4 and get the most out of Apache log files. He examined three use cases: IT operations, business intelligence, and security and compliance. Asaf Yigal is co-founder and VP of Product at log analytics software company In the past, he was co-founder of social-trading platform Currensee, which...
The revocation of Safe Harbor has radically affected data sovereignty strategy in the cloud. In his session at 17th Cloud Expo, Jeff Miller, Product Management at Cavirin Systems, discussed how to assess these changes across your own cloud strategy, and how you can mitigate risks previously covered under the agreement.
Countless business models have spawned from the IaaS industry – resell Web hosting, blogs, public cloud, and on and on. With the overwhelming amount of tools available to us, it's sometimes easy to overlook that many of them are just new skins of resources we've had for a long time. In his general session at 17th Cloud Expo, Harold Hannon, Sr. Software Architect at SoftLayer, an IBM Company, broke down what we have to work with, discussed the benefits and pitfalls and how we can best use them ...
Most of the IoT Gateway scenarios involve collecting data from machines/processing and pushing data upstream to cloud for further analytics. The gateway hardware varies from Raspberry Pi to Industrial PCs. The document states the process of allowing deploying polyglot data pipelining software with the clear notion of supporting immutability. In his session at @ThingsExpo, Shashank Jain, a development architect for SAP Labs, discussed the objective, which is to automate the IoT deployment proces...
We all know that data growth is exploding and storage budgets are shrinking. Instead of showing you charts on about how much data there is, in his General Session at 17th Cloud Expo, Scott Cleland, Senior Director of Product Marketing at HGST, showed how to capture all of your data in one place. After you have your data under control, you can then analyze it in one place, saving time and resources.
The Internet of Things (IoT) is growing rapidly by extending current technologies, products and networks. By 2020, Cisco estimates there will be 50 billion connected devices. Gartner has forecast revenues of over $300 billion, just to IoT suppliers. Now is the time to figure out how you’ll make money – not just create innovative products. With hundreds of new products and companies jumping into the IoT fray every month, there’s no shortage of innovation. Despite this, McKinsey/VisionMobile data...
Just over a week ago I received a long and loud sustained applause for a presentation I delivered at this year’s Cloud Expo in Santa Clara. I was extremely pleased with the turnout and had some very good conversations with many of the attendees. Over the next few days I had many more meaningful conversations and was not only happy with the results but also learned a few new things. Here is everything I learned in those three days distilled into three short points.
DevOps is about increasing efficiency, but nothing is more inefficient than building the same application twice. However, this is a routine occurrence with enterprise applications that need both a rich desktop web interface and strong mobile support. With recent technological advances from Isomorphic Software and others, rich desktop and tuned mobile experiences can now be created with a single codebase – without compromising functionality, performance or usability. In his session at DevOps Su...
As organizations realize the scope of the Internet of Things, gaining key insights from Big Data, through the use of advanced analytics, becomes crucial. However, IoT also creates the need for petabyte scale storage of data from millions of devices. A new type of Storage is required which seamlessly integrates robust data analytics with massive scale. These storage systems will act as “smart systems” provide in-place analytics that speed discovery and enable businesses to quickly derive meaningf...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
In his General Session at 17th Cloud Expo, Bruce Swann, Senior Product Marketing Manager for Adobe Campaign, explored the key ingredients of cross-channel marketing in a digital world. Learn how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects).
The buzz continues for cloud, data analytics and the Internet of Things (IoT) and their collective impact across all industries. But a new conversation is emerging - how do companies use industry disruption and technology enablers to lead in markets undergoing change, uncertainty and ambiguity? Organizations of all sizes need to evolve and transform, often under massive pressure, as industry lines blur and merge and traditional business models are assaulted and turned upside down. In this new da...
In recent years, at least 40% of companies using cloud applications have experienced data loss. One of the best prevention against cloud data loss is backing up your cloud data. In his General Session at 17th Cloud Expo, Sam McIntyre, Partner Enablement Specialist at eFolder, presented how organizations can use eFolder Cloudfinder to automate backups of cloud application data. He also demonstrated how easy it is to search and restore cloud application data using Cloudfinder.
The Internet of Everything is re-shaping technology trends–moving away from “request/response” architecture to an “always-on” Streaming Web where data is in constant motion and secure, reliable communication is an absolute necessity. As more and more THINGS go online, the challenges that developers will need to address will only increase exponentially. In his session at @ThingsExpo, Todd Greene, Founder & CEO of PubNub, exploreed the current state of IoT connectivity and review key trends and t...
Two weeks ago (November 3-5), I attended the Cloud Expo Silicon Valley as a speaker, where I presented on the security and privacy due diligence requirements for cloud solutions. Cloud security is a topical issue for every CIO, CISO, and technology buyer. Decision-makers are always looking for insights on how to mitigate the security risks of implementing and using cloud solutions. Based on the presentation topics covered at the conference, as well as the general discussions heard between sessi...