There is a new tech wizard in town whose card is rocking young New Yorkers. His name is Billy McFarland. McFarland is an American tech entrepreneur who was born in 1991 and is the founder and CEO of Spling and the Magnises black card as well as a mobile app.
Billy MacFarland was born in New York City but raised in New Jersey. At the tender age of 13, McFarland founded his first company which was an online outsourcing firm that matched clients with best designers. McFarland briefly attended the Bucknell University in Pennsylvania where he studied computer engineering.
The tech wizard founded Magnises in 2013 and officially launched the card in March 2014. He was aiming to create a high-class black card which was community-oriented as well as technology-based. It was to offer perks, guidance as well as cachet that would improve the daily lives of its members and impress the millennial generation.
This card is not a typical credit card since it is not connected to any bank. Rather, it transfers data from an existing credit card onto the Magnises card strip to allow it to be used as the actual debit or credit card while the original card continues to work normally.
The card has a $250-annual fee but no initiation fee or spending conditions. It is only available in New York City and Washington DC with plans of expanding to Boston, Atlanta, Los Angeles, Chicago and London. By 2015, Magnises had over 10000 members and had raised $3 million in venture capital.
During New York Islanders matches at the Barclays Center, all seats in the front rows are not occupied by elderly tycoons in suits, dolled-up celebrities or season fans holders of hockey tickets. They are reserved for millennial living well within their means and enjoying every minute of it. The young ticket holders are members of the Magnises club for millennial who pay only $250 annually for access to high-end privileges.
There is also a WorkPass where NYC-based Magnises members normally get a desk at a co-working space that calls itself “The Most Badass Co-working Space on the Earth” for only $99 per month. They go for as much as $450 per month for others.
For only $65 a month, members can have ClubPass to access different nightclubs every evening. There is also a HotelPass that enables member access $79 hotel rooms in high-end locations in NYC if they check in after 11 pm.