Richmond, Virginia, March 04, 2026 (GLOBE NEWSWIRE) -- Commonwealth Savers today announced the launch of a digital wallet for its Invest529 gift center, marking the next step in its continued partnership with financial infrastructure platform Stripe.
This enhancement reinforces the organization’s role as a leader in modernizing education savings and delivering the convenience and security families expect in today’s digital economy.
The new wallet feature allows gift contributors to use popular payment methods Apple Pay and Google Pay, alongside debit and credit cards for a frictionless experience. This upgrade reflects the growing consumer demand for seamless, secure and mobile-friendly payment options.
“Families want saving for education to be as simple as any modern financial transaction and our Invest529 program is committed to innovation and accessibility,” said Mary Morris, CEO of Commonwealth Savers. “By expanding on our partnership with Stripe, we’re making it easier for grandparents, aunts, uncles and family friends to be active participants in helping their loved ones save for their future.”
529 accounts are tax-advantaged savings accounts designed to help families prepare for future education expenses. Established nearly 30 years ago, these plans have grown steadily in popularity, particularly in recent years as legislation has expanded their flexibility to cover a wider range of education costs. Today, millions of families nationwide rely on 529 accounts as a cornerstone of their education savings strategy.
Commonwealth Savers manages the largest education savings offering in the country, serving millions of account holders and overseeing billions in assets. Through programs like Invest529, Commonwealth Savers continues to innovate and make saving for education more accessible and future focused.
Gift contributions have become a favored way to boost 529 savings as families encourage help from friends and relatives. In 2024 alone, more than $700 million in 529 gift contributions were made nationally underscoring the demand for simple, secure and flexible giving tools.
Digital wallets (Apple Pay, Google Pay, etc.) have seen a significant rise in popularity due to their convenience and enhanced security features. This growth is driven by the widespread adoption of smartphones and the increasing acceptance of contactless payments by merchants.
Commonwealth Savers administers Invest529 and CollegeAmerica, which together form the nation’s largest 529 savings program, The organization's education savings programs represent more than $124 billion in assets under management and over 3.2 million accounts nationwide.
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About Commonwealth Savers Plan
Through its tax-advantaged savings programs and community initiatives, Commonwealth Savers empowers individuals and families to prepare for their financial future. Formerly known as Virginia529, Commonwealth Savers is an independent agency of the Commonwealth of Virginia. Call 1-855-4SAVEVA (1-855-472-8382) or visit CommonwealthSavers.com to learn more about the organization and its education (Invest529 and CollegeAmerica), disability (ABLEnow and ABLEAmerica) and retirement (RetirePath Virginia) savings programs. Read program materials carefully before investing. An investor should consider the investment Advertising Disclosure Policy 6 objectives, risks, charges, and expenses of the programs before investing. All investments are subject to risk, including the possible loss of the money you invest. Commonwealth Savers encourages prospective participants to seek the advice of a professional concerning any financial, tax or legal implications related to opening an account. For non-Virginia residents: other states may sponsor a savings plan offering state tax or other benefits not available through Commonwealth Savers. ©2026 Commonwealth Savers Plan. All Rights Reserved.
Devon Copeland Commonwealth Savers (804)225-2452 dcopeland@commonwealthsavers.com
