Future of Investing, Member Exclusive

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”

10-Q, Member Exclusive

Visa vs Mastercard: Who performed better in Q4 2022?

  • The 10-Q newsletter is now part of your Tearsheet Pro subscription, and we're excited to bring you the brand new look of the weekly 10-Q newsletter.
  • Results for Visa and Mastercard's quarter ending 31 Dec 2022 are in – let's take a look.
Sara Khairi | February 06, 2023
Member Exclusive

Tearsheet Briefing: Fintech changed consumer finance — how are regulators thinking about this?

  • Welcome to the first Tearsheet Briefing, featuring weekly insights from our reporters on the intersection of finance and technology – exclusively for Tearsheet PRO members.
  • In our first briefing, we're exploring how the entry of fintech and non-bank firms has added complexity to the financial system, and its implications from a regulatory standpoint.
Sara Khairi | February 03, 2023
Announcement, Member Exclusive

Welcome to the Tearsheet PRO Newsletter

  • We're excited to introduce our new member-only newsletter, featuring fresh and exclusive content from Tearsheet Editors Zack Miller and Iulia Ciutina.
  • Tearsheet PRO is designed to connect the dots, challenge conventional thinking, and keep your finger on the pulse of established and emerging trends. In your inbox every Wednesday.
Iulia Ciutina | February 02, 2023
10-Q, Member Exclusive

Weekly 10-Q: Check cashing fees are getting an overhaul from New York’s financial regulator

  • The New York State Department of Financial Services is putting into practice an updated check cashing regulation following the proposed regulation announced in June last year.
  • And, feeling the heat of the economic downturn, JPMorgan's board has decided that CEO Jamie Dimon will take home the same base pay in 2023 as he did last year -- with no special award or bonus.
Sara Khairi | January 31, 2023
Blockchain and Crypto, Member Exclusive

Bankchain Briefing: Banks onboard the blockchain train

  • The lawsuits and insults season is in full swing within the unregulated cryptocurrency space.
  • But cryptocurrency is just one facet of blockchain technology. Tearsheet asked experts for commentary on how traditional banks are experimenting with blockchains.
Lindi Miti | January 27, 2023
More Articles