VANCOUVER, British Columbia--(BUSINESS WIRE)--Mogo Inc. (TSX:MOGO) (NASDAQ:MOGO) (“Mogo”), a financial technology company focused on empowering consumers with innovative digital financial solutions that help them get in control of their financial health, today announced the release of its new updated Mogo app featuring an interactive Rainforest Mode as part of the MogoCard experience. The MogoCard is the Mogo Visa Platinum* Prepaid Card that is designed to help Canadians get in control of their spending by moving away from the overspending associated with credit cards, while also being the first card to help fight climate change by automatically offsetting CO2 with every dollar spent using the card. Mimicking the sights and sounds of the Amazon rainforest, the new feature brings Mogo’s carbon offsetting project to life.

Found within the Spending section of the Mogo app, Rainforest Mode includes the sounds and visuals of the Amazon Rainforest and is designed to evoke a calming, zen-like atmosphere, aimed at helping users be more mindful of their spending to not only reduce their carbon impact but also to become more in control of their spending to achieve better financial health.

“Financial stress continues to be one of the biggest stressors for Canadians, while climate change remains one of the biggest long-term challenges we all face. Our goal with the MogoCard was to design a solution that helps consumers get control of the most important part of their financial game, spending, while also helping to solve climate change,” said David Feller, Mogo’s Founder & CEO. “Given more than 50% of Canadians carry credit card debt, moving away from credit card spending to a product that only lets you spend what you load is the first step toward gaining control of your finances. Spending is also one of the main drivers of climate change, as everything we buy has a carbon footprint. An estimated seventy two percent of CO2 comes from our consumption. An important step toward reducing financial stress and addressing the climate crisis is to avoid overspending and, importantly, offsetting our CO2. Our goal at Mogo was to gamify the experience of saving money and the planet, and Rainforest Mode really takes this to a whole new level. Banking and consumer finance is going through a disruption that many other industries have already faced, and we believe that the future of financial health will look more like a game than a typical banking app.”

The MogoCard and Rainforest Mode are free to all Canadians and available by downloading the Mogo app. In addition to these products and features, the Mogo app offers members free identity fraud protection, free credit score monitoring and a simple way to buy and sell bitcoin. Mogo is the only FINTRAC regulated and publicly traded Canadian company on both the TSX and NASDAQ to offer Canadians this unique suite of products.