Investment start-up app Acorns has announced it will launch its rewards program in Australia later this year after seeing success in the US.
The program, known as ‘Found Money’, invests money directly into users’ Acorns investment accounts when they make purchases with ‘Found Money partners’, the firm said in a statement.
Users receive cash deposits of either a dollar value or a percentage of the transaction value. The program is currently available to US-based customers.
George Lucas, managing director of Acorns Australia, said Found Money can open up more opportunities for users to automatically invest funds, and gives brands the chance to tap into Acorns’ customer base.
“The Found Money program will be the first of its kind in Australia, and the success of the program in the US gives us great confidence that it will quickly be embraced by our Australian users,” he said.
“The program sets a new standard for customer reward programs by helping Acorns users invest in their future through their purchasing behaviour. Our partner brands will also benefit from a continuous presence in users’ Acorns accounts, and from being able to reward consumers for making purchases instead of having to rely on discounting.”
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