Future of Investing

AT&T’s Cricket Wireless strikes partnership with Acorns to bring investing to its subscribers

  • Cricket Wireless and Acorns are teaming up to bring investing to more people.
  • With the Acorns app pre-installed on new handsets, Cricket customers also receive monetary incentives to use the investment app.
close

Email a Friend

AT&T’s Cricket Wireless strikes partnership with Acorns to bring investing to its subscribers

Cricket Wireless has struck a deal with Acorns to pre-install the investment app on all new handsets sold by the AT&T brand.

The Acorns-Cricket partnership: Cricket customers who sign up for a new Acorns account and invest $5 will receive a $10 investment bonus in their Acorns Invest account.

  • Following Acorns signup, Cricket will invest $1 into their customers’ Acorns accounts for every month their wireless service is paid.
  • Acorns customers who switch to Cricket Wireless through the summer receive a $20 investment bonus.

“One of the top reasons people don’t invest in their future is lack of access,” said Acorns CEO, Noah Kerner. “Our collaboration with Cricket, and their commitment to financial wellness, will make it even easier for everyday Americans to save and invest every day.”

Acorns’ partnership strategy: Cricket Wireless is the first exclusive wireless partner for Acorns Earn, a rewards program that enables customers to earn money when they shop.

  • By tapping “Earn more money” on their home screens, Acorns customers can search more than 400 global brands that automatically invest into a subscriber’s Acorns account when they shop with that brand.
  • The Cricket Wireless offers will be featured in the Acorns Earn section, and Acorns customers can switch or sign up for Cricket service from their app.

“Acorns makes it simple for people to invest. This micro-investment tool empowers people to invest little by little, even just spare change, and it really adds up to impact their future,” said John Dwyer, President of the AT&T Prepaid Portfolio (includes Cricket Wireless). “People across the country are still struggling to make ends meet, and for many, their ability to save was severely impacted during the pandemic.  We hope this collaboration with Acorns will help our customers start saving again for the future.”

Cash back as an incentive: Digital investment services like Acorns and challenger banks continue to encourage their customers to swipe their cards. Cash back and targeted offers are one way these firms compete.

  • Dosh, a popular incentive network that integrates with fintech brands like Venmo and Betterment, was bought by Cardlytics in a transaction worth $275 — Cardlytics’ first acquisition in its 13-year history.
  • Acorns competitor Stash uses its Stock-Back Card to reward its customers with fractional shares in the companies they shop at.

Telecom and financial services: Telecommunications companies are increasingly looking to banking and investing as value-added services to introduce to their customers.

  • Verizon recently launched Family Money, an app designed to boost financial literacy, particularly among young people.
  • T-Mobile launched its own banking service, MONEY, in 2019 as a white label partnership with BankMobile.

0 comments on “AT&T’s Cricket Wireless strikes partnership with Acorns to bring investing to its subscribers”

Future of Investing

‘Lots of music involved, too!’: A day in the life of Chidi Achara, CCO of Stash

  • Consumer interest in investing is taking hold. And for investing apps, that means sharpening their marketing game to reach their target audience.
  • Leading Stash’s marketing initiatives is Chidi Achara, chief creative officer at Stash. Here’s a day in his life.
Rivka Abramson | August 02, 2021
Future of Investing, Member Exclusive

Behind Betterment’s partnership with Zenefits to give SMBs access to retirement planning

  • Betterment’s technology led 401(k) provider teamed up with HR software company Zenefits.
  • Zenefits SMB customers will gain access to Betterment’s retirement planning and financial wellness offerings.
Rimal Farrukh | April 21, 2021
Future of Investing, Member Exclusive

‘We put our skin in the game’: How Clearbanc is rethinking funding for growing startups

  • Last month Clearbanc released ClearAngel, a program that acts as an automated angel investor.
  • Clearbanc’s revenue-based model speaks to the increased need of startup funding.
Rivka Abramson | March 04, 2021
Future of Investing, Member Exclusive

‘Our research shows that consumers find investing to be intimidating’: Marcus by Goldman Sachs debuts automated investment service

  • Goldman Sachs debuted its flagship digital investment platform Marcus Invest.
  • The offering requires a minimum account balance of $1000 and charges an annual fee of 0.35 percent.
Rimal Farrukh | February 19, 2021
Future of Investing, Member Exclusive, Podcasts

‘Stickiness to old products necessitates creating new asset management firms’: Arca’s Rayne Steinberg

  • Rayne Steinberg was a co-founder of WisdomTree, an innovative asset management firm in the ETF space.
  • His new firm, Arca, is a digital asset manager focused primarily on serving institutional investors.
Zachary Miller | January 19, 2021
More Articles