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Prizeout, a leader in advertising and financial technology, has unveiled CashBack+ Pay, a new debit rewards solution built specifically for credit unions. The feature empowers credit union members to earn instant cash back when they pay using digital gift cards, creating a new avenue for debit card rewards in a traditionally underserved space.
Credit union partners already live on the CashBack+ Pay platform include Interra Credit Union, Michigan State University Federal Credit Union (MSUFCU), United Financial Credit Union, Golden 1 Credit Union and People Driven Credit Union, with more slated to launch in the coming months.
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“The early data is astounding,” David Metz, founder and CEO of Prizeout, said. “Credit union debit card users traditionally had no way to earn meaningful rewards. Now, we're seeing 10% of debit spending from Pay users happening through Pay, powered by digital gift cards that bypass traditional payment rails entirely.”
The app integrates seamlessly with online and in-store shopping experiences. Members connect their accounts, shop as usual, and receive cashback in real time by purchasing gift cards for the exact checkout amount.
MSUFCU President/CEO April Clobes said the impact has been immediate. “Within just 11 days of launch, we saw a 16% increase in usage and overwhelmingly positive feedback, especially around ease of use and convenience.”
“This is true disruption in the payments space,” Jon Jeffreys, president of Callahan & Associates, said. “Prizeout has delivered what debit card users have wanted for decades, and they did it hand-in-hand with credit unions.”
Built in partnership with the Prizeout Partners CUSO, the program highlights a credit union-led approach to innovation in member rewards.
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Michael Ogden
Editor-in-Chief at CU Times. To connect, email at [email protected]. As Editor-in-Chief of CU Times since 2016, Michael Ogden has led the editorial team in all aspects of content strategy and execution, including the creation of the publication’s exclusive and proprietary research database of the credit union industry’s economic landscape. Under Michael’s leadership, CU Times has successfully shifted to an all-digital editorial product with new focuses on the payments, fraud, lending and regulatory beats. Most recently, he introduced a data-focused editorial product for subscribers that breaks down credit union issues into hard data, allowing for a deeper and more factual narrative for readers. In 2024, he launched the "Shared Accounts With CU Times" podcast, which offers a fresh, inside-the-newsroom perspective through interviews with leaders from the credit union industry and the regulatory world. He dives into pressing credit union issues, while revealing the personalities working behind-the-scenes to push the credit union world forward. His background includes years as a radio and TV anchor/reporter and a public relations and digital/social media manager, where he covered the food and music industries, as well as cooperatives and credit unions. Over the years, he has launched numerous exclusive video and podcast series, including a successful series of interactive backstage interviews with musicians at music festivals, showcasing his social media and live streaming production skills.
