Mobile banking platform provider N26 is expanding its rewards program through a partnership with card-linked offer platform provider Dosh, enabling customers to earn cash back when using an N26 debit card.
N26 account holders are automatically enrolled in the Perks program through the mobile bank, and the expansion through Dosh allows users to earn cash back when making purchases at local businesses, grocery stores, big-box retailers and national quick-service restaurants. Marathon gas stations are listed in the program, as well as Converse shoes and Walmart+, the retailer's membership service focused on online ordering and delivery.
Since their inception, mobile banking alternatives have pursued reward programs similar to what consumers have long had through their banks.
“The goal of our Perks program has always been to help customers save when spending with their debit card on brands they love,” Alexander Weber, chief growth officer at N26, said in a Tuesday press release. “This is now more important than ever with the impact of the recent pandemic putting financial strain on millions of Americans."
The rewards expansion helps customers earn cash back directly in their accounts when spending on "more everyday essential items like gas and groceries,” Weber said.
The cash-back rewards are credited to the main account every 15 days, and N26 said it will monitor customer spending through the program to inform future vendors planning to join the program.
“N26’s expansion of their Perks program into cash back is going to provide incredible value to their customers at a time when many Americans could use the additional cash,” Ryan Wuerch, CEO of Dosh, said in the release, noting it was important for the program to allow cash back on everyday purchases.
In addition to the rewards offering, N26 said it also added features within its Spaces savings sub-accounts, which helps users allocate money toward certain goals. The features allow users to enable recurring payments from their main account or round-up purchases and deposit the change into a Spaces sub-account with incentives to increase savings and reach goals faster.
New York-based N26 operates in the U.S. and throughout most of Europe, from its Germany office. The pioneering mobile bank says it has more than 7 million customers in 25 countries.
Digital payments advertising platform Cardlytics recently agreed to acquire Dosh for $275 million in cash and stock.
