Kora, an emerging fintech company dedicated to serving college students, has teamed up with Cardlytics, a digital advertising platform specializing in cashback rewards, to launch Kora Rewards.
The new service will give Kora users the opportunity to earn automatic cashback rewards of up to 10% when shopping at thousands of top local and national brands in the United States. To acquire cashback rewards all users have to do is make their purchases using their virtual KoraCards and their earned rewards will automatically appear in their Kora app. In addition, users will be able to explore reward offers from within the app itself, allowing them to strategically plan their shopping according to the best cashback deals.
"Combining Kora’s unique demographic and mission-focused business with Cardlytics’ cash back offers will positively impact these students by putting money back in their accounts for purchases they make everyday. Our partnership with Kora is a perfect extension of our company’s purpose of delivering real value to people through an engaging rewards platform," said Farrell Hudzik, EVP, Financial Institutions for Cardlytics.
Cashback Student Rewards Apps
Kora Partners With Cardlytics to Launch Kora Rewards
Trend Themes
1. Cashback Rewards Apps - More companies will likely team up with digital advertising platforms to offer automatic cashback rewards like Kora Rewards.
2. Fintech for College Students - Fintech companies catering to college students, like Kora, have the potential to disrupt traditional banking services for younger generations.
3. In-app Reward Offers - The inclusion of in-app reward offers, similar to Kora Rewards, could become a differentiating factor for future shopping apps.
Industry Implications
1. Digital Advertising - Digital advertising platforms like Cardlytics may benefit from partnering with fintech companies to widen their audience and increase revenue streams.
2. Financial Services - Fintech companies could disrupt traditional financial services by offering targeted, value-added services like cashback rewards to specific demographics like college students.
3. Retail - Retailers may see increased sales and customer loyalty by partnering with cashback reward apps like Kora Rewards to offer exclusive discounts and promotions.