AeroPay, the mobile-payments service from Aero Payments LLC, debuted a 1% cash-back rewards program for its users.
AeroPay, which uses a connection to the automated clearing house network for its transactions via Dwolla Inc., says consumers using its iOS or Android app can earn unlimited 1% cash-back rewards. The payout for the rewards is made using Dwolla’s connectivity.
To participate, consumers create an AeroPay account via a one-time sign up process that connects their banks accounts to their AeroPay account. When entering a merchant location that accepts AeroPay, the merchant’s app automatically connects to the consumer’s app. To pay using AeroPay, the consumer issues a request to pay, the business authorizes the amount, and the consumer confirms the total.
AeroPay users receive their cash back biweekly as a direct deposit on what the company calls AeroPayDay.
“With the launch of our consumer cash back rewards program we are demonstrating our commitment to creating a two-sided platform that provides value to both consumers and merchants on every transaction,” Daniel Muller, chief executive and founder of AeroPay, said in a statement. “We know there is a significant opportunity to offer better rewards for consumers versus using cash or a debit card, which earn minimal or no rewards, and 1% back is just the beginning.”
AeroPay said hundreds of merchants in the Chicago area accept AeroPay.