MoneyMe launches ‘MoneyMe Perks’ its first credit back reward system
Today, MoneyMe Limited (ASX:MME) announces the launch of its first credit back reward system, MoneyMe Perks (powered by ASX-listed Cashrewards).
MoneyMe Perks (powered by Cashrewards) will enable all Freestyle customers to earn credit back on purchases made online using their Freestyle Virtual Mastercard® at over +1,500 participating merchants across Australia including; Myer, Target, The Iconic and The Good Guys.
The credit back received on the purchases can be redeemed against the credit balance on Freestyle Virtual Mastercard. The amount of credit back received will vary based on stores and products.
Clayton Howes, CEO and Co-Founder of MoneyMe said, “We’re delighted with this groundbreaking innovation and launching a first of its kind rewards program as part of our strategic alliance with Cashrewards.
“MoneyMe Perks adds to our ever-growing portfolio of products that aim to solve the failings of traditional lenders by providing technology-enabled payment solutions – quickly, efficiently and safely.”
The rewards program is available to Freestyle Virtual Mastercard Holders for online purchases from 10th December. It will be extended to include in-store purchases from early 2021.
Cashrewards CEO, Bernard Wilson said, “Cashrewards is delighted to partner with MoneyMe to deliver a credit card rewards program that offers Australians a choice of ‘credit back’ or cash to share or spend on whatever they choose. This is a fantastic example of how innovators at the cutting edge of fintech and e-commerce can work together to deliver new and compelling experiences for Australian consumers.”
How it works:*
- Freestyle Virtual Mastercard holders make a purchase via the MoneyMe app using their freestyle card at one of more than 1,500 participating merchants in Australia (full list of merchants can be found in the app).
- To earn Credit back Rewards, shop via the App by clicking ‘Shop now’ in the ‘Perks’ tab; and use your Freestyle card as the method of payment for the online purchase. The earn rate of Credit back Rewards will be displayed in the App**.
- The credit will appear automatically in the account usually within 1-2 business days.
- Freestyle Virtual Mastercard customers can then decide to use it reduce the balance owing or send money to their own bank account fast by ‘withdrawing to bank’ or ‘pay anyone’.
*Subject to T&Cs found at https://www.moneyme.com.au/terms-cashrewards
**The earn rate of Credit back Rewards may change from time to time – any changes will be displayed in the App
