According to the company, CashBack+ is a suite of products that lets credit union members earn instant cash back while they shop and lets credit unions grow their non-interest income by up to 3% on every member transaction
Prizeout’s David Metz stopped by the show to share the big launch of their CashBack+ for credit unions — a new white-label solution that enables credit unions to offer members a suite of cash-back products. David added that Cashback+ essentially helps credit unions boost their non-interest income and offer new benefits to their members, so both parties greatly benefit.
Today, Metz is talking about Cashback+, a white label tool that puts money back in a member’s pocket with a debit card transaction. Note that: this works with debit cards, unlike most cashback which rides on a credit card. And that debit focus works well for credit unions where many members make heavy use of debit cards and that is especially true of younger members.
According to a 2023 Forbes Advisor Banking Survey, 57% of Americans use debit cards as their primary payment method; however, there aren’t as many rewards programs for debit cards as there are for credit cards. In fact, the only major credit card company to offer a 1% cash back debit card is Discover. This disconnect, in part, was the impetus for Prizeout’s new program, CashBack+.
CashBack+, a new suite of cash back products gives credit unions the tools to compete with big banks, earn more non-interest income, and put money back into their members’ pockets
Prizeout has introduced a new white-label solution that enables credit unions to offer their members a suite of cash-back products.
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CashBack+, a new suite of cash back products gives credit unions the tools to compete with big banks, earn more non-interest income, and put money back into their members’ pockets.