I am proud to share an important milestone: Reward has officially given back $2 billion in cashback to customers. This achievement not only reflects the incredible journey we’ve been on but also reinforces our commitment to making everyday spending more rewarding for customers around the world.
At the end of 2022, we celebrated hitting the $1 billion mark, a testament to the strong foundation we had built. Surpassing $2 billion in just over two years highlights the incredible growth we’ve seen and the increasing value we’re able to deliver to both our customers and partners.
Supporting customers in challenging times
It’s no secret that we’re operating against a challenging economic backdrop. Rising costs mean that customers are prioritising value for money more than ever, and brands have a crucial role to play in supporting them. Cashback rewards have become a lifeline for many, helping them save on everyday purchases while making room in their budgets for the things they truly enjoy.
The numbers back this up. Insights from our customer engagement platform reveal a 38% increase in reward cashback redemptions between 2022 and 2024, highlighting the growing demand for reward programmes and their role in supporting consumer spending.
At Reward, we’ve embraced this shift, ensuring our offerings are not only saving money but also meeting the convenience and personalisation standards customers have come to expect.
Delivering more than savings
Beyond savings, customers are using their cashback rewards to make a meaningful impact, donating an impressive $10.5 million to charity through the platform. An example of this impact came in 2021 when our customer engagement platform supported an award-winning campaign that facilitated $2 million in customer donations to the National Emergencies Trust’s (NET) Coronavirus Appeal.
In 2022, this spirit of giving reached new heights with the Reward-powered MyRewards NatWest programme. Within just 24 hours of launching a campaign, customers contributed an incredible £1 million to the Ukraine Humanitarian Appeal, demonstrating the platform’s ability to mobilise impactful, real-time support.
These remarkable contributions highlight the transformative potential of cashback rewards, showing how they can unite communities and empower consumers to support critical causes when it matters most.
Setting the standard for customer experience
While giving back $2 billion is a significant achievement, it’s about more than just the numbers. Customers increasingly expect personalised, meaningful experiences from the brands they engage with. Our reward programmes and personalised propositions are designed to deepen connections between brands and customers, driving loyalty and richer engagement for retailers and banks worldwide.
This milestone isn’t just about giving back – it’s about setting a new standard for how businesses can connect with their audiences in a way that truly resonates.
Looking ahead
As we take a moment to celebrate, it’s important to note that we’re far from done. This milestone fuels our ambition to go further. We’re continuing to set ourselves ambitious goals in delivering cashback rewards to customers, reflecting our belief in the power of rewarding relationships.
To our partners, thank you for joining us on this journey to create meaningful connections with your customers by making everyday spending more rewarding. Together, we’re proving that giving back isn’t just good business – it’s the right thing to do. Here’s to the next chapter of growth, innovation, and making a difference.
Jamie Samaha, CEO, Reward