Dynamic Pay Offers Shoppers 10% Cash Back
Yesterdday, Dynamic Scrip announced the launch of “Dynamic Pay,” a mobile payment rewards program that offers shoppers up to 10% cash back at over 200 retailers in more than 300,000 locations across the United States.
Since the mobile app is funded with their credit card, they will also still receive rewards points from their card issuers in addition to the rewards through Dynamic Pay. It also allows customers to send digital gift cards to friends and family, for which they will earn even more rewards.
“We anticipate the mobile payment industry to grow exponentially in the next few years and are pleased to bring Dynamic Pay’s unique value proposition to consumers with our exciting rewards program,” says David Stanek, Dynamic’s CEO. “Unlike other rewards programs, we are especially proud to share a portion of every purchase with nationally recognized non-profits to help provide food, clothing, shelter and education to those in need, making our program the perfect balance between customer rewards and charitable contributions.”
Dynamic Scrip created this app in response to research that indicates 83 million technology-driven Millennials and 78% of all mobile phone users would rather complete retail transactions from their mobile devices. In fact, according to Deloitte and eMarketer, there will be a 210% growth in mobile payment transactions in 2016, which is an increase from $8.71 billion to $27.05 billion.
“We’re fortunate to have built an innovative mobile payment platform in line with the exponential growth of consumer adoption. Our app stands out among the rest of the mobile payment industry because of our generous rewards program, unique e-gift platform, and our charitable contributions,” adds Stanek. “There is no doubt that mobile payments are the future of retail payments as they are far more convenient and safer than traditional checks, cash, debit and even credit cards.”
Iowa-based Dynamic Scrip was originally founded to help non-profit organizations raise funds through digital gift card sales.