The largest bank-powered rewards app in the UK, Cheddar, has expanded its category of partners across grocery and fashion – with Waitrose & John Lewis, Sainsbury’s, and ASOS now available to users. The three retailers join over 150+ brands in helping British consumers save when they spend.
Through prepaid cards purchased on Cheddar, consumers can earn 5% cashback at ASOS and up to 3.5% cashback at Waitrose/John Lewis and Sainsbury’s. Once gift cards are purchased, savings are accessible immediately and easily redeemed to the user’s bank account.
As more of the nation’s favourite retailers become available on the app, user figures are increasing 40% month-on-month and the average user is now spending £175 per month on in-app gift cards. Cheddar’s prepaid cards are just as easy to use as cash or debit/credit card, but with the bonus of earning and redeeming cashback immediately.
Despite inflation slowing down, the overall cost of living in the UK continues to increase. Cheddar makes it easier for consumers to reach saving goals proactively. The app helps them save £100+ on their spending when they switch to the gift card buying process when possible.
Luke Ladyman, COO and co-founder at Cheddar says: “We’re thrilled to welcome three of the UK’s largest retailers to our app. By using consensual consumer data, we can help people save more on their monthly expenses than ever. Not only that, but we can support our new retail partners in cultivating customer loyalty through cashback rewards. With the cost-of-living crisis continuing to strain finances, we’re committed to helping alleviate rising financial pressure, and our high cashback rates meet that need.”
