New offering gives consumers the power of choice with an alternative method to earn cash back and simplify savings on everyday purchases
Shopmium, a free app giving consumers exclusive cash back offers for everyday purchases, whether shopping in-store or online, announced the launch of its Venmo integration to expand its cash back redemption offerings. Shopmium users can now connect and use their Venmo accounts to receive cash back deposits for redeemed offers.
Since launching in the U.S. last year, shoppers have only been able to receive cash back from Shopmium through their PayPal account. With this expanded method of cash back redemption, Shopmium users can now choose how they want to receive their cash back.
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PayPal recently reported that 34% of U.S. consumers use Venmo, making it the second most-used payment service in the U.S. and the preferred app for quick and convenient payments for millions of consumers, particularly Millennials and Gen Z. According to a recent survey, 45% of Millennials and 42% of Gen Z respondents say they use Venmo, compared to Gen X (32%) and Baby Boomers (22%). As younger generations look for savvy ways to save, Shopmium provides a seamless user experience incorporating a platform they already know and trust.
“Getting cash back should be easy. With the impact of rising prices on everyday items, consumers are looking for ways to shop smarter, not harder, says Lisa Thompson, Savings Expert at Shopmium. “We’re thrilled to add Venmo as a payment option because it is a trusted, secure digital wallet that’s a natural fit to redeem cash. Together, Shopmium is bringing shoppers savings while Venmo is allowing them to access that cash immediately and grow their digital wallets.”
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When a user downloads the Shopmium app and sets up an account, they can link their Venmo account in a few quick steps. As with all redemption options on Shopmium, users have access to their cash whenever they want, with no minimum balance for payout or redemption fees.
This additional payment option can give Shopmium users confidence to manage their money and earn additional cash back with future offers on everyday items, from food and beverages to beauty products and pet supplies.
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