Interra Credit Union is offering customers a perk through fintech Prizeout that pays about 2.7 times more cash back than most big banks

The solution, CashBack+Pay, is a point of purchase app that allows users to purchase digital gift cards for the amount of their purchase in-store or online, Prizeout founder and Chief Executive David Metz told Bank Automation News. The solution, announced today, appeals to debit card users because traditionally they don’t get cash back perks. 

Gift cards are the only payment method that are universally accepted that don’t run on Visa or Mastercard rails, they run on gift card rails, Metz said.  

“If you do your shopping through digital gift card, you have a chance to earn cash back,” he said. 

Consumers download the app, connect their credit union checking account to the app, and start purchasing, Metz said. Consumers select where they are shopping, input the amount they need for their purchase and instantly CashBack+Pay creates a gift card, completes the purchase and kicks back the savings to the consumer.  

“In one click,” he said.  

The consumer’s account is debited the amount of the purchase and the cash can be instantly transferred into their checking or savings account, Metz said.  

“They just paid with a gift card, they don’t even realize it,” he said. 

Interra Credit Union CEO Amy Sink told BAN: “This is payments app.”  

Just like consumers use third-party apps to buy Starbucks or McDonalds, they can use CashBack+Pay to buy anything from gas and groceries to Nike, she said. 

Cash back competition 

Interra joins other major FIs, including Bank of America, in upping its cash back game. 

On June 1, Bank of America rolled out its Customized Cash Rewards credit card and Unlimited Cash Rewards credit card, according to a May 16 release. 

The Customized Cash Rewards card will earn 6% cash back, while CashBack+Pay averages 7% cash back. 

The global cash back and rewards app market, in terms of revenue, is expected to hit $7.73 billion by 2034, up from $4.1 billion in 2025, recording a CAGR of 7.2%, according to a May 19 report by think tank Precedence Research. 

Connecting the app 

CashBack+Pay, which can be downloaded from the App Store for iOS or as a desktop browser in Chrome, is pre-integrated on digital banking platforms Lumin, Symitar, Fiserv, Q2 and Alkami, Metz said. 

That integration “took years,” but now credit unions that use those providers can simply turn on the CashBack+Pay function, he said. 

Interra is on the Symitar core and uses Lumen for online banking, Metz told BAN. 

Other credit unions including Michigan State University Federal Credit Union, United Financial Credit Union, Golden 1 Credit Union and People Driven Credit Union are early adopters of CashBack+Pay, according to the release. 

Adoption of the solution is in the early days but it’s already gaining traction: 

• In the first 11 days after launch, MSUFCU saw a 16% increase in usership, according to the release; and 

• Sink said 2% of Interra members use the solution.