Like every iteration before it, Richard Smith’s TranzactCard has collapsed.

Following
disabling of DBO recruitment and member referral
yesterday, a “FinMore” reboot was announced on a TranzactCard corporate call.

For the most part, FinMore appears to be a cosmetic rebranding with more fees.

TranzactCard DBO –> FinMore Business Owner (FBO)

TranzactCard Member (retail customer) –> Finmore Cardholder

ZClub –> FinMore Market Place

ZBucks –> FinCredits

FinMore Cardholders will be charged $4.95 a month for access to FinMore. “Legacy” TranzactCard members will receive access to the same service for $2.49 a month, up until March 2025.

As to what services FinMore is providing access to, it’s a standard offering of “me too” discount services from undisclosed third-parties.

The services are broken down into various categories with “Flourish” branding.

Flourish Health and Wellness

telemedicine

a nutrition program

a fitness program

weight management program

medical cannabis savings

medicare concierge service

prescription discounts

senior savings benefits

dental savings

medical records vault

Flourish Decision Maker

finance tracking

overspending corrector

budgeting tool

Note that Flourish costs an additional $50 a month and “other Flourish bundles” will be released at some point.

Needless to say this looks nothing like what
TranzactCard originally pitched
.

They’ve gone from
“here’s a credit card you’ll get a 1:1 dollar match on be able to buy Nikes with”
, plus a “compound growth” savings account…

…to
“here’s some discount services you can get from a bunch of places”
.

With Flourish costing $50 a month extra, what I’m lost on is what FinMore members are paying monthly fees for.

I get that affiliates (FBOs) can be charged for backoffice access, but what exactly are the FinMore member retail customers paying for?

On the MLM side of things, FinMore is charging new recruits $199 plus $50 annually. This is down from the $495 TranzactCard DBOs were charged.

Retail customers are being charged $50 annually plus $4.95 a month (I still don’t know why you’d sign up for this).

Commissions are paid out via what appears to be a unilevel, capped at ten levels on recruitment and nine levels for retail customers. This matches what TranzactCard was offering.

Flourish, which is new, pays $5 a month for direct referrals (FBOs and retail customers), and $3 upline nine levels (based on rank).

Pointing out the obvious, FinMore appears to be a renewed effort to disassociate from TranzactCard founder and owner Richard Smith.

Communication from TranzactCard/FinMore distributors certainly suggests banks are being misled with the rebranding:

How long that goes undetected is anyone’s guess.

Something else I haven’t seen addressed is whether $495 TranzactCard DBOs are able to claim a refund. Given what they bought into has collapsed, offering full refunds would be the legally responsible route.

Still no corporate response on the
32,000 TranzactCard accounts being breached
, or what the plan is going forward.

Richard Smith
“resigned” from TranzactCard corporate
last November but still owned parent company TZT Holdings LLC.

It’s unclear whether Smith still owns whatever shell company FinMore has been set up behind (directly or by proxy).

Update 13th April 2024 – 
FinMore has
collapsed
.

🤖 Quick Answer

What is FinMore and how does it relate to TranzactCard?
FinMore represents a rebranded iteration of Richard Smith's TranzactCard platform following the collapse of its previous business model. The rebrand includes restructured membership tiers, renamed programs, and modified fee structures, maintaining similar discount services under new nomenclature while introducing increased costs for new cardholders.

What changes accompanied the TranzactCard to FinMore transition?
The transition involved disabling DBO recruitment and member referral programs, renaming business participants from DBO to FBO, establishing tiered pricing with new cardholders charged $4.95 monthly versus legacy members at $2.49 monthly through March 2025, and rebranding ancillary programs including ZClub and ZBucks.

What services does FinMore provide to its members?
FinMore offers standardized discount

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