Raise Marketplace LLC, the leading mobile payments company behind the Raise gift card app, today launched Slide, the iOS and Android mobile payments app where consumers can earn unlimited 4% cash back instantly when paying online or in store through contactless checkout. Slide’s initial retailer partners include Lowe’s, Ulta Beauty, Chipotle, and more than 150 retailers in 100,000 nationwide locations.
While most mobile payment apps are solely payment mechanisms, Slide takes it one step further by enabling savings for consumers at retail locations where they already shop, putting money back in their pockets. There are no hidden fees and no limit on the amount they can earn.
Users can link Slide to their credit cards, Apple Pay or Google Pay, and deposit funds ahead of time to earn an extra 1% on every purchase and speed up the payment process at checkout. At checkout, users simply select a brand, enter the purchase amount and input the serial number online at point of sale or scan a barcode on their phones in store. As soon as a purchase is complete, users earn instant cash back in their Slide app. Users can apply their earnings toward their next Slide purchase or, once earnings reach $15, securely cash out their funds to their Venmo or PayPal account.
Slide was created under the leadership of Jay Klauminzer, CEO of Raise Marketplace LLC, a leading mobile payments company that helps consumers save money and drives growth for businesses. Raise Marketplace LLC is backed by top venture capital and technology firms including PayPal, Accel Partners, Bessemer Venture Partners, and New Enterprise Associates. Slide is the company’s second product, having previously launched the Raise mobile payments platform that saves millions of shoppers money with discounted gift cards on every purchase. Jay has held several leadership roles at both DoorDash and Groupon.
“Through our success with Raise and in talking with our customers, we know that value and convenience are two uncompromisable aspects of any digital experience,” said Klauminzer, CEO of Raise Marketplace LLC. “With all of the payment platforms and loyalty programs from retailers today, we’ve created a single destination for instant rewards that consumers can easily incorporate into their daily shopping routines. Our goal was to combine the speed, simplicity and accessibility of digital payments with a cash back model, making mobile payments easier and more rewarding than ever before for both retailers and consumers.”
Slide acts as a mobile engagement tool for retailers, driving traffic, incremental sales and brand loyalty through cash back. While most retailers have to update their point of sale systems to accommodate new forms of mobile payment, Slide’s technology works with retailers’ pre-existing gift card rails, eliminating the cost and time it takes to set up new point of sale systems.
