A growing number of fintechs are now touting rewards, including instant cashback and deep discounts, for spending via debit cards in hopes of recruiting new customers and keeping current ones. While many of the rewards programs are basic cash-back deals, some are more innovative, offering things like shares of stock and deep discounts at certain retailers. With few traditional checking accounts offering cash back on debit card spending since the 2010 Dodd-Frank reforms limited interchange fees, these rewards programs are another opportunity for startups to differentiate themselves from the standard financial services.
This content is available exclusively to Tearsheet Outlier members.
Missing out? Subscribe today and you’ll receive unlimited access to all Tearsheet content, original research, exclusive webinars and events, member-only newsletters from Tearsheet editors and reporters and much more. Join Outlier now — $59/mo
Sign in to your account