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‘Adding Betterment, we’re targeting 200 million Powered By customers by the end of 2021’: Dosh’s Ryan Wuerch

  • Challenger banks are increasingly adding rewards programs to their debit and credit card offerings.
  • Dosh, a shopping app that provides cashback on purchases, has teamed up with challenger bank, Betterment.
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‘Adding Betterment, we’re targeting 200 million Powered By customers by the end of 2021’: Dosh’s Ryan Wuerch

As challenger banks expand their capabilities, many with debit and credit card offerings are adding in rewards as a way to attract, retain, and engage their customers. These upstarts frequently turn to partners for their rewards programs.

Fintech firm Dosh gives millions of users cashback when they shop at top retailers that are using cash back as an acquisition tool.

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Merchants use Dosh to acquire new customers. Brands like Instacart and Dunkin use the consumer shopping app as a transaction-based, new form of advertising. Instead of hard to analyze radio, TV, and out of home campaigns, Dosh gives merchants the ability to make cash offers to get new people shopping in their stores or online. This way, they know exactly how much it costs to acquire a new customers.

Dosh recently announced a major expansion of its platform, launching with Venmo and Jelli as its first official partners. With Powered by Dosh, financial services companies can provide automatic, instant, card-linked cash back experiences for their users.

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The following excerpts were edited for clarity.


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