NEW YORK—One major bank is trying a new method to pump up consumer use of digital wallets— paying its customers to make the digital transactions.
Chase announced that Chase Freedom cardholders will receive an additional 5% in cash back rewards during the first quarter of 2018 when they pay with a mobile wallet, including Android Pay, Apple Pay, Chase Pay, and Samsung Pay, LowCards.com reported.
Chase Freedom customers already receive 5% cash back on purchases at gas stations and on Internet/Cable phone services during the upcoming quarter. All other purchases receive 1% cash back.
LowCards.com reported that Chase Freedom General Manager BJ Mahoney said Chase wants cardmembers to try the convenience of mobile wallets. “They can maximize their rewards not only by paying for necessities, but also by splurging, like for their favorite coffee, when using a mobile wallet.”
Users must enroll to earn these additional rewards on Chase’s website.