May 8, 2022

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Wedge Teams With Cardlytics on Cash Back Offering

Spending app Wedge has debuted a new rewards program, powered by cash back offer platform Cardlytics, according to a Thursday (Jan. 20) press release.

Wedge lets users pay for their purchases with any asset using a smart debit card, while Cardlytics works with hundreds of brands and retail partners, the release stated. The partnership is a step toward helping Wedge realize its vision of spending smarter in real time.

“Wedge is changing how people access and utilize their assets, revolutionizing the way everyday spending happens,” said Wedge CEO Billy Roberts in the release. “Cardlytics is the leader in transaction-based rewards technology, making them the perfect partner for our platform. “The ability to earn cash back when you shop, dine or travel, automatically, is just what our users expect from their go-to spending tool, and we’re excited to add the best automatic cash back company to our ecosystem.”

Cardlytics “creates an instant, automatic rewards experience for consumers earning cash back on everyday purchases,” according to the release. Wedge users can find personalized offers and get notified when they receive cash back.

“Wedge is revolutionizing how consumers utilize and access their assets by removing the friction between trading and spending allowing users to responsibly put their money to work for them,” said Cardlytics Executive Vice President of Financial Institutions Farrell Hudzik in the release. “Integrating a cash back program that incentivizes good financial planning will make an undeniable impact for the Wedge user base.”

When Wedge members use their smart debit cards, they get a notification that enables them to pay for the purchase using any asset, or a combination of assets, within their Wedge wallets and real-time information that details how much they saved by using certain assets instead of cash, the release stated.

In other news, PYMNTS’ B2B Digital Payments Tracker for January showed that more than 80% of all consumers who use one of the top four digital wallet options are satisfied with their services.

Read more: Virtual Cards Help Improve Remote Accounts Payables Efficiencies

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About:More than half of U.S. consumers think biometric authentication methods are faster, more convenient and more trustworthy than passwords or PINs — so why are less than 10% using them? PYMNTS, in collaboration with Mitek, surveyed more than 2,200 consumers to better define this perception versus use gap and identify ways businesses can boost usage.