N26 is now offering cashback and discounts in the US - Business Insider

Two crossed lines that form an 'X'. It indicates a way to close an interaction, or dismiss a notification.N26 US has rolled out an expansion to its Perks program, which offers customers cashback rewards and discounts when they make purchases using their N26 debit card, according to a press release sent to Business Insider Intelligence.The new perks include discounts from partners like Booking.

Debit card perks are a solid way to drive higher transaction volume, and N26 will benefit from widening the range of partners it works with. Strong transaction volume is one of the major tenets of a neobank's future success, enabling it to make a significant amount of revenue off of interchange, so for N26 to incentivize purchases with its debit card is a wise bid for its future prospects.

For this reason, the more companies that the neobank can get to participate in its Perks program, the better its ability to target a wide range of its users will become. Furthermore, it's possible that N26 receives affiliate or referral revenue for posting the offers it does, meaning that each offer could contribute positively to the neobank's bottom line.

The other half of a solid long-term strategy to reach profitability will be incentivizing stronger deposits in addition to transactions. Neobanks should also work to become their customers' primary bank, a goal that almost all of them have been struggling with so far. Even in the UK, a market where online banking adoption is

South Africa South Africa Latest News, South Africa South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Veritas Genetics is halting operations in the US - Business InsiderWhile Veritas' future in the US is uncertain, its niche service and value proposition could help it regain footing as it mulls seeking out a potential buyer:
Source: BusinessInsider - 🏆 729. / 51 Read more »

The 13 US states where it's easiest to refinance and save money on your mortgage - Business InsiderNationwide, 75% of mortgage refinance applications are approved. But these 13 states have even higher approval rates than the national approval rate.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Startup platform All of Us Financial aims to challenge Robinhood and pay you for trades - Business InsiderAll of Us CEO Alan Grujic told Business Insider his pitch to customers is that they can get paid to trade using the San Francisco-based startup.
Source: BusinessInsider - 🏆 729. / 51 Read more »

Before his death, legendary Fed chief Paul Volcker issued one last warning to the US - Business Insider'Today we see something very different and far more sinister. Nihilistic forces are dismantling policies to protect our air, water, and climate.'
Source: BusinessInsider - 🏆 729. / 51 Read more »

What recession? US small-business sentiment jumps the most in 18 monthsSmall-business owners have benefited from the Tax Cuts and Jobs Act of 2017, and have used the money to expand their businesses, according to NFIB.
Source: BusinessInsider - 🏆 729. / 51 Read more »