Dosh, the fastest-growing cash back platform that connects thousands of brands and retailers to millions of consumers, today introduced innovative additions to "Powered by Dosh," a solution that enables financial service companies to easily provide automatic, instant, card-linked cash back experiences to their customers.
Via a software development kit (SDK), web application and personalization engine, several financial service companies will launch with Dosh this fall, with Venmo already live and Jelli, the rapidly growing neobank, to launch this month.
Fintech has ushered in more transparency and choices than ever before, and with it, new expectations and levels of engagement. Consumers are increasingly looking for ways to save money and get rewarded for their spending. A recent report found 80% of shoppers would visit a store they haven't tried before if it offered direct cash back offers, and 74% of Gen Z and 70% of millennials will spend more money if they know they will receive cash back. Created with data-driven insights and with a focus on value for the customer in mind, Dosh's card-linked platform gives brands and retailers a smarter way to engage and reward consumers with advertising that creates a meaningful value exchange between the two parties. The Dosh platform is becoming a real answer for merchants wanting to move ineffective advertising dollars away from traditional and digital media, and is proven to attract new customers both in-store and online while increasing purchase frequency and average order value.
"As consumers turn to the brands and payment options that provide the biggest rewards, financial institutions, neobanks and payment providers want to stay top-of-wallet by providing a world-class frictionless cash back program into their payments experience," said Ryan Wuerch, CEO and founder of Dosh. "The Dosh platform has found the sweet spot for merchants, financial services companies and consumers alike. Since launch, the demand for the Powered by Dosh technology from financial services companies, both big and small, has been incredible. We will announce new partners over the coming months, which will expand our user base to over 60 million. This is the advertising platform that the industry has been waiting for."
With the Dosh platform, virtually any financial service company can embed the 'Powered by Dosh' automatic cash back rewards experience into their user interface (UI). The platform allows for seamless integration, while also creating custom user experiences to suit each financial service company's unique brand. Companies using 'Powered by Dosh' are able to leverage this innovative transaction-based advertising platform without long, resource-intensive integrations and complex backend management. Financial service providers can now utilize the leading cash back experience for their users and immediately drive better engagement with consumers and higher gross merchandise volume (GMV) for merchants.
"Dosh's expanded technology suite will allow Venmo users to discover and receive even more cash back offers from over 100,000 places directly in the Venmo app. We're excited to continue working with Dosh and help Venmo users earn rewards on their everyday purchases from national and local merchants," said Kapil Mokhat, head of growth, Venmo.