Credit unions up their cash back game with new app

Interra Credit Union is leveraging Prizeout’s CashBack+ Pay to offer debit users significantly higher cashback- about 2.7x more than typical big bank rewards, by enabling purchases through digital gift cards at checkout. The app connects directly to a member’s checking account, allowing them to generate a gift card for the exact purchase amount and receive instant cashback, all in a single step. Early adoption across credit unions and initial usage metrics point to growing traction, while the model introduces a new payments approach that bypasses traditional card rails.

Prizeout POV: This piece highlights a fundamental rethinking of payments infrastructure – using digital gift cards to bypass traditional rails and unlock a new rewards model for debit. What stands out is the simplicity: members don’t need to change behavior, yet they receive immediate, meaningful value at checkout. For credit unions, this creates a rare combination of higher rewards, seamless integration, and new revenue opportunities, all without the constraints of interchange, positioning debit as a more competitive and engaging payment option in a market long dominated by credit.

Read full article here