US-based mobile payments company Raise Marketplace has launched a mobile payments app dubbed Slide that enables consumers to get unlimited 4% cashback instantly on making transactions online or in-store via contactless checkout at merchant locations across the country.

There are no hidden costs or limits associated with the cashback earned by the consumers.

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Users can link the app to their credit cards or payment wallets like Apple Pay and Google Pay.

Moreover, they can also deposit funds before time to earn an extra 1% cashback on their purchases.

Users only need to select a brand at checkout, enter the amount, a serial number or scan a barcode during checkout to complete payment.

They can earn the 4% cashback in their Slide app instantly after the completion of a purchase.

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Users can cash out their funds to Venmo or PayPal after earning $15 or apply their earnings toward their next Slide purchase.

Slide can be used at over 150 retailers in 100,000 locations across the US including Lowe’s, Ulta Beauty, and Chipotle.

Raise Marketplace is backed by PayPal, Accel Partners, Bessemer Venture Partners, and New Enterprise Associates.

Raise Marketplace CEO Klauminzer said: “With all of the payment platforms and loyalty programmes from retailers today, we have 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 cashback model, making mobile payments easier and more rewarding than ever before for both retailers and consumers.”