US-based retail company Dollar General (DG) has launched new financial services aimed at increasing access to banking options and payment alternatives for customers.
New services include the introduction of spendwell banking platform, a Buy Now, Pay Later test programme with Sezzle, and new FIS Worldpay card reward points payment options.
Spendwell is a new bank account that provides customers with access and management of personal finances, available exclusively from Dollar General. Through a partnership with InComm Payments and issued by MetaBank, the spendwell bank account and Visa debit card is available at the company’s stores, as well as through a dedicated online platform and mobile banking app.
The bank account will provide customers with two options, including one with no monthly fees and another that allows customers to earn 1% unlimited cash back to be redeemed on purchases at Dollar General. Both account options include an accompanying Visa debit card, which can be used everywhere Visa debit cards are accepted.
DG also plans to launch a test of a Buy Now, Pay Later purchase option through a new partnership with Sezzle at stores in Texas. The DG Buy Now Pay Later programme will provide customers with zero-interest payments on purchases, allowing them to pay for their purchases in four installments when and purchasing items at in physical stores or for in-store pickup on the DG App.
The company is also piloting an added payment choice with FIS’ Premium Payback, a real-time rewards redemption network. Customers will have an option to redeem eligible credit and debit card rewards points toward their DG purchase. Currently available at more than 18,000 DG stores in 46 states, customers with eligible FIS bank debit and credit cards may redeem 1,000 credit card points for USD 5.00 toward their purchase of USD 5.01 or more.
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