Quicken Inc. has launched a co-branded MasterCard with U.S. Bank, featuring contactless payment and which integrates directly with the company's personal finance software and mobile app, according to a company release.

Quicken said the MasterCard program is the first such card agreement designed to help users manage their personal finances, including spending, budgeting and financial planning. The card will also feature MasterPass digital wallet, which allows card users to quickly check out at the cash register.

Quicken noted results from a 2018 survey it conducted showing about 70 percent of monthly expenses are paid by credit card and groceries and restaurant spending make up about 50 percent of that total.

Daniel Chen,head of business development at Quicken, said it worked closely with U.S. Bank to create the first card designed to help users manage their finances.

"The Quicken World MasterCard is a new finance tool on your phone and in your wallet," he said in the release. "With the card and the Quicken mobile app users will track spending together, earn meaningful rewards on everyday purchases, and ultimately reach their financial goals faster."