HyperJar Adds Instant Cashback Gift Cards to Its Digital Wallet

Published 5 months ago

HyperJar, a London-based fintech company, has expanded its feature set to include instant Cashback Gift Cards. In collaboration with Tillo, the world’s fastest-growing digital gift card network, HyperJar becomes the first spending app to offer this feature. Customers can now earn immediate cashback of up to 15% from more than 50 top brands, directly into their wallets.

A New Chapter in Gift Card Innovation

Nicola Longfield, CCO at HyperJar, described the launch as a significant expansion of the gift card category and an introduction to genuine innovation. The company is not only the first to combine a spending account with instant cashback gift cards but also the first to introduce ‘merchant cashback’. Customers can opt for a higher cashback rate committed to a specific merchant.

The synergy of HyperJar’s unique point-of-sale rewards tech and Tillo’s digital gift card expertise has delivered a unique solution for both merchant partners and over half a million customers. Brands gain a new loyalty mechanism that drives incremental growth, and consumers receive more significant rewards. This aligns perfectly with HyperJar’s mission to help people manage their money better and make their budgets stretch further.

Expanding the Potential of Digital Gift Cards

Alex Preece, CEO and founder of Tillo, shared his excitement about the partnership with HyperJar. The collaboration represents an industry-leading example for fintech companies looking to find new uses for these cards beyond traditional gifting. Tillo’s API effortlessly manages and delivers digital gift cards from over 2000 global brands, offering unprecedented access to powerful gift card discounts that can be turned into attractive cashback offerings and more.

The Benefits for the Average Shopper

HyperJar Cashback Gift Cards provide substantial rewards for typical shoppers. For instance, they can earn £13.50 instant cashback on a £300 Marks & Spencer gift card (4.5%); £9.00 instant cashback on a £300 ASDA gift card; and £6 instant cashback on a £100 Primark gift card (6%). These cashback gift cards can be used in conjunction with most existing retailer loyalty cards, offers and discounts, helping people stretch their spending money even further.

Until now, this type of cashback has only been available via employee benefit schemes and specialist sites. HyperJar is the first digital wallet to offer such significant savings to everyone using their free app. This can give back around £30 a month to a typical household, available instantly to spend or save, helping millions to tackle inflation and make their budgets go further.