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May 27, 2021

Varo Perks Cashback programme debuts

By Douglas Blakey

Varo Bank is launching its Perks rewards programme for all Varo customers.

According to Varo, its Perks loyalty scheme is designed to be radically simple and richly rewarding. In particular, Perks offers easy access to rewards of up to 15% Cashback in app from local and national merchants. Later this year, the programme will expand to include exclusive offers for Varo’s most engaged customers. Specifically, this will include personalised offers based on everyday spending patterns.

Perks is designed to maximise cashback rewards on everyday in app purchases. Varo says that its programme has no complex points system and is easy to track within the Varo app.

Customers can make purchases using their Varo Visa Debit Card with participating in-app merchants. These include Walgreens, Nike, Vons, Macy’s, Kohl’s, Grubhub, Home Depot, Dick’s Sporting Goods, Sam’s Club, Safeway and Disney. Cashback rewards are automatically deposited into their Varo Bank Account once $5 in cashback is earned.  

Varo Perks: ‘earning cashback seamless and straightforward’

“After an overwhelmingly positive response to Perks from early users, we’re thrilled to extend the programme to Varo customers everywhere,” says Jaime Jerusalmi, Varo General Manager of Partnerships and Loyalty.  “From our best-in-class line-up of participating merchants across all spending categories to our seamless in-app integration, every aspect of Perks is designed to make earning Cashback as straightforward as possible. And we’re only just getting started.”

The Cashback program joins the existing series of curated partnership products available in the Varo app. These include insurance, gig work or international remittances. Perks, along with Varo’s existing premium banking products, is wholly designed around advancing the financial health of its customers. 

“We’re proud to offer even greater value to Varo account holders through a Cashback programme. It is straightforward, satisfying and aligned with our customers’ existing spending patterns,” adds Colin Walsh, CEO and founder of Varo Bank.

“Historically, rewards programmes have been largely limited to holders of expensive credit cards. This has left millions of consumers behind. Cashback Perks embodies our commitment to providing premium products, superlative benefits and innovative financial solutions to all.”

Varo Bank is the first consumer fintech to be granted a national bank charter by the Office of the Comptroller of the Currency.

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