Wallet providers can partner with credit cards—which offer a built-in lever with existing rewards programs—and banks on wallet-specific rewards to spur usage. Here’s how:. Banks can add rewards like bonus cash back for using mobile wallets—something Chase has tested in the US. Wallet providers can also implement their own incentives.

Issuers’ pursuit of clear value propositions and forays into next-gen credit building services offer a window into their plans to attract customers and combat competition.

SMB credit card fintech gets $100M to expand into crowded corporate US market: UK-based issuer Capital on Tap is ramping up in the US after making its plunge in March—we unpack the troubles ahead for small firms like it competing with established players and not much differentiation.

Co-brand card issuers and brand partners have an opportunity to reimagine their offerings in the pandemic’s wake. Leaning on newfound digitization and shifting spending habits can help providers tailor their offerings in ways that widen their net, grow volume, and appeal to the maximum number of customers.

PayPal wants to expand its in-store digital payment solution and card business as cash use falls across Europe.

Amazon announced it will also promote small business sellers on Amazon Live, through Alexa (when shoppers ask to “shop small business”), and give its retail credit card holders 10% cash back when they shop with small businesses. Competing retailers will have deals of their own.

Solutions introduced last year like Apple Family Card and wallet support for more transit systems could help the tech giant increase volume.

Here’s how it works: The extension lets shoppers generate one-time Visa cards when they shop online that can enter as a regular card during checkout. It can automatically apply discounts—through its recent acquisition of discount provider Piggy—and lets shoppers earn rewards like cash back or gift cards, depending on their location. Shoppers can also save items and activate price-drop notifications.

Since our audience is what attracts retailers to our marketplace, it is only fair that we share part of our profits with them in the form of cashback. How has that strategy of cash back helped differentiate Banco Inter within Brazil’s ecommerce ecosystem? The notion of cash back is very popular in the US, but it took a while to catch on in Brazil. At the end of the day, it’s money in your pocket.

Credit card appetite is growing in tandem with retail sales—what are issuers doing to make the most of this comeback?

After the coronavirus pandemic forced issuers to adapt rewards, enhance forbearance, and build out digital tools to cope with a volume hit in 2020, they’re looking to reimagine their offerings in the future to add new customers and regain primary card status.

In late October, Zip’s online pre-holiday shopping event, Zip Fest—four days of deals, cash back offers, and giveaways—netted 130% YoY sales growth, as close to 250,000 customers shopping with Zip during the event, according to the company.

Cardmembers will also earn 5% cashback on HelloFresh, which they can apply to future orders, and new HelloFresh customers will receive a discount for their first few orders.

The digital play’s incentives for new customers included 1% cashback on certain debit-card transactions and round-ups on debit-card purchases. The banking giant has also signaled that it will be patient with the UK bank’s performance, and the UK could serve as a sandbox for operating in the US and across Europe. Buying a UK fintech, bulking up in wealth management.

For instance, Japanese messaging app Line recently launched a new service, called Line BK, that includes high-interest savings accounts and three debit cards to choose from, as well as features ranging from cash back to overdraft protection. Line BK allows Thai users to make transfers, open accounts, apply for loans, and make payments from within the app (Line is Thailand’s most-used messaging app).

The Amazon Business American Express Card lets cardholders opt for rewards and earn 3% back on their first $120,000 spent on Amazon each year, as well as 2% cash back at restaurants, gas stations, and on wireless phone service. Or they can opt for financing and receive 60 days to pay without interest.

Blockchain is attracting enormous interest on the back of surging cryptocurrency valuations and increasingly high-profile payment integrations. But as a real payment currency, blockchain-based cryptocurrency still must overcome many hurdles before it can truly disrupt the space.

For example, Apple Pay and Google Pay both offer cash-back bonuses. Brands can also offer incentives such as discounts and free gifts in exchange for using a specific payment method. One of the ways brands and retailers are working to reduce ecommerce friction is providing more payment methods at checkout.

Activating cash-back deals from retailers in-app can encourage spending and boost customer loyalty for neobanks—and though none boast the tool, they do offer related capabilities. Being able to activate such deals on the go while shopping could be the deciding factor in whether a customer uses cash-back offers.

Furthermore, as younger individuals become consumers for the first time, they won’t need to gravitate away from cash and physical credit cards since, for many of them, proximity mobile payments may be the default way to transact.