Dollar General (NYSE: DG) announced a series of financial services aimed at improving access to banking options and offering additional customer payment alternatives.
New services reportedly include the introduction of Dollar General’s exclusive spendwell banking platform, a Buy Now, Pay Later test program with Sezzle and new FIS Worldpay card reward points payment options, “all of which extend the company’s value and convenience propositions.”
Emily Taylor, Dollar General’s Executive VP and Chief Merchandising Officer, stated:
“Today’s announcement highlights Dollar General’s focus on supporting our customers and communities by extending financial service accessibility and payment options In keeping with our purpose-driven mission of Serving Others, we continually search for additional services and flexible solutions to help make our customers’ lives easier.”
New Dollar General financial offerings include:
- spendwell™ Financial Service: An innovative, new bank account that provides customers with additional convenience to access and manage personal finances, available exclusively from Dollar General.
- Through a partnership with InComm Payments, and issued by MetaBank®, the spendwell Bank Account and Visa® debit card is now available at Dollar General’s 18,000+ stores, as well as through a dedicated online platform and easy-to-use mobile banking app.
- spendwell will provide customers with two financial account options including one with no monthly fees and another that allows customers to earn 1% unlimited cash back to be redeemed on purchases at Dollar General.
- Both account options include an accompanying Visa debit card, which can be used everywhere Visa debit cards are accepted, and spendwell app-access* to manage everyday expenses, pay bills and more.
In order to celebrate the spendwell launch, InComm and Dollar General have “waived the retail purchase price to open an account through September 30, 2022.”
The purchase price will “increase to only $1 beginning October 1, 2022.” Also, through September 30, 2022, customers will “receive a complimentary $10 deposit into their spendwell account after an approved card registration.”
Each spendwell account is packed with free features and services, including:
- Direct deposit, enabling customers to access wages up to two days early
- Ability to add cash at Dollar Genera
- Subaccounts, helping customers keep their family spending and budgets on track
This partnership leverages Dollar General and InComm Payments’ nearly 20-year partnership and current collective efforts “to support customers through gift card programs, bill pay solutions and payment processing technology.”
DG Buy Now Pay Later powered by Sezzle: Dollar General plans “to launch a test of a buy-now, pay-later purchase option through a new partnership with Sezzle at more than 1,700 stores in Texas.”
The DG Buy Now Pay Later program will “provide customers with zero-interest payments on purchases, allowing them to pay for their purchases in four installments and giving them additional flexibility when purchasing items at Dollar General stores or for in-store pickup on the DG App or online.”
For more details on this update, check here.
