Prizeout is an innovative ad-tech company that works across gaming, banking, crypto, gig economy, payroll & finance industries to turn withdrawals into a growth solution for e-commerce & retail businesses. Through its exclusive partnerships, Prizeout offers users huge access to bonus offers on popular and emerging brand favourites while providing them with a fast, secure, and curated experience. The company was founded in 2019 and is headquartered in New York City.
One can say Prizeout is an ad-tech company that turns financial balances into growth solutions. Crunchbase describes Prizeout as an ad-tech company that turns withdrawals into an engine for customer acquisition, retention, and loyalty. Prizeout can also be construed as an innovative withdrawal platform that gives users more purchasing power in the form of digital gift cards with bonus offers.
The Edge of Prizeout
The Prizeout marketplace provides its client’s account holders the opportunity to turn their checking funds into value-added digital gift cards for their favourite brands. At Prizeout, they are leveraging the gift card as an agent of growth marketing by working directly with retailers to create gift card-fuelled ad campaigns.
Prizeout is a no-cost payment service and pays its financial institution partners a revenue share for every withdrawal made through its platform, creating a unique stream of non-interest income. Customer support is one of the strong factors for success in today’s business regarding which Prizeout seems to have a distinctive edge. Prizeout provides in-house 24/7 support, with an overall average response time of less than thirty minutes.
According to Prizeout’s website, its partners have had more than 25 percent cumulative increase in user retention and 95 percent of brands on its platform offer a potential value of up to 25 percent. Here it deserves a mention that 57 percent of a Prizeout user’s spend takes place post first conversion.
Effective Partnerships
According to Crunchbase, Prizeout has partnered with CUSO to help credit unions in the US grow, compete, and thrive, indicating an expansion of its business operations. Additionally, Prizeout’s platform has been integrated into online banking portals and mobile apps to deliver gift cards to credit union members, suggesting an increase in product adoption and market penetration. Furthermore, the collaboration with nine credit unions across the US and the mention of a fast-growing direct-to-consumer segment imply a broadening customer base and increased demand for Prizeout’s services. Here it deserves a mention that credit union service organisations (CUSOs) entail corporate entities in the United States which are owned by federally insured credit unions.
In the last year, Prizeout entered into a partnership with an expense sharing app named Tandem. The partnership enabled couples to make money on their end-of-month balances and convert them to additional purchasing power through more than 1,300 merchants and brands.
In the recent past, Prizeout has entered into a partnership with online rewards site KashKick. As a result of this partnership, customers who complete surveys, online tasks, play games or sign up for offers for extra money now have the ability to add even more purchasing power to whatever they earn, when they ‘kash out’ through a digital gift card.
“Our mission is to help our customers, wherever they are, earn bonuses on their money,” said David Metz, Founder and CEO of Prizeout. “KashKick allows any consumer in the US to make money – and in this economy, providing access and ability for anyone to earn, is important. We are honoured to partner with KashKick to provide members even more money on top of what they are already earning, for brands they are already shopping with. We hope this eases the financial stress for anyone participating, especially this holiday season.”
Once the customer has a minimum $10 balance in their KashKick account, they have the opportunity to “kash out.” Upon “kashing out,” they are now presented an option to withdrawal directly to their financial institution, or to withdrawal through Prizeout through a digital gift card. When they click on Prizeout, they are taken to an online marketplace with 1,000+ national and local brands, where they can choose a digital gift card that will never expire, with up to 20 percent more purchasing power.
“Our goal is to put more money in our member’s pockets. With such closely aligned missions, a partnership with Prizeout was a natural fit,” said Vishal Mahtani, CEO and Co-founder of KashKick. “We expect our members to rapidly embrace Prizeout since it provides even more value for their rewards,” he added further.
