Prizeout Launches ‘Game Changing’ Debit Card Rewards Program

By W.B. King

With the goal of empowering members to earn more at the checkout line, Prizeout has enhanced its CashBack+ platform by giving credit union debit card users instant cashback, among other perks.

“Members can earn up to two-times the rewards offered by major credit cards. It’s a game-changing app that drives checking usage, increases non-interest income, and modernizes the member experience in a way the nobody has ever seen before,” David Metz, CEO of the New York City-based Prizeout, told Finopotamus.

“CashBack+Pay wasn’t just built for credit unions; it was built with them through our Prizeout Partners CUSO. By taking an institution-first approach to innovation, we’ve created a platform that not only enhances rewards but also shifts decades-old spending habits and repositions digital gift cards as a new, compelling way to pay,” he added.

Meeting Members Where They Are

Among early adopters are Michigan State University Federal Credit Union, United Financial Credit Union, and People Driven Credit Union. “CashBack+Pay reinforces MSUFCU’s commitment to creating meaningful, value-driven experiences for our members. Within just 11 days of launch, we saw a 16% increase in usage and overwhelmingly positive feedback, especially around ease of use and convenience,” said April Clobes, CEO of the $7.6 billion East Lansing, Mich.-based MSU Federal Credit Union, which supports more than 350,000 members.

“Our collaboration with Prizeout has been essential in delivering a product that meets members where they are,” Clobes continued. “CashBack+Pay is a differentiator in checking products in the market, combining tangible rewards with a seamless digital experience.”

The $1.7 billion Goshen, IN-based Interra Credit Union, which supports more than 92,000 members, was attracted to the solution for its ability to boost member engagement, explained CEO Amy Sink.

Amy Sink

“We can offer members up to 7% cash back on their everyday expenses and create a new stream of non-interest income for Interra, all with very little lift from our internal teams. Because the cash back is merchant-funded and embedded into a digital experience, it’s been especially appealing to members who think digital-first, prefer debit over credit and are looking to make their hard-earned money go a little farther,” Sink told Finopotamus. “It’s helped us deepen our digital relationship with members while reinforcing Interra’s commitment to offering modern, member-first solutions that drive value.”

The success of the platform, Metz noted, is directly tied to the involvement of credit unions—long-standing partners that have used other products within the Prizeout ecosystem for years. The fintech also launched its CUSO, Prizeout Partners, in 2023.

“When it came to CashBack+ Pay, they were some of the first to step up, adopt the solution, and roll it out to their members. Their early feedback and real-world use cases helped us refine the platform and ensure it was delivering real value from day one. At Prizeout, all of our products are developed in close collaboration with our credit union partners,” he continued. “Every product is driven by a combination of member demand, market trends, and direct input from our credit unions, ensuring that what we create is both relevant and ready to serve real needs.”

Digital Banking Partner

From a technology perspective, the CashBack+ Pay solution is a plug-play, application programming interface (API)-ready solution. As such, Sink said implementation was streamlined, which was due, in part, to Prizeout’s ability to integrate with Interra CU’s digital banking platform.

“Our internal team had minimal work. After signing our agreement, we quickly aligned on timelines and collaborated with our digital banking partner to launch. The testing phase was light, just enough to ensure everything functioned smoothly with a seamless user experience,” Sink explained. “Prizeout also provided turnkey training materials for, and spent time with, both our staff and member support team, which made the entire rollout engaging and efficient.

David Metz

Metz added that most credit unions can go live with the solution in a few weeks. “Testing is intentionally light, focused on validating functionality and ensuring a smooth member experience,” he said. “To support rollout, we also provide turnkey training materials for both staff and member-facing teams, making the entire process as efficient and straightforward as possible.”

A Boost for Debit-Spending Members

While a somewhat new rollout, Sink said Interra CU’s experience has been positive. “In the seven months since launching Pay, 0.5% of our debit-spending members have made a purchase through the platform,” she said. “We expect that number to reach 1% by the end of the year.”

As Metz looks at 2025 and beyond, he is “astounded” by early data reports that demonstrate that the solution is transforming decades-old spending behavior. “Credit union debit card users traditionally had no way to earn meaningful rewards. Now, we're seeing 10% of debit spending from Pay users happening through Pay, powered by digital gift cards that bypass traditional payment rails entirely,” he said. “In today’s tough economic climate, that kind of impact makes a real difference.”