Doordash and Chase Bank have launched the online delivery platform’s first rewards credit card, designed to offer cash back on a range of common food purchases.
The decision comes as cashback continues to be a popular way of rewarding and retaining customers for businesses. According to Statista, the global cashback industry is expected to be worth more than $200bn a year by 2024, with statistics showing that 46 per cent of cashback participants consider it a vital step in their purchase decisions.
The same research also revealed that retailers who have participated in cashback grew their revenue up to two and a half times faster than competitors who do not use such schemes.
As part of the latest deal, the DoorDash Rewards Mastercard becomes the company’s first credit card, including 4% cash back on DoorDash and Caviar orders on its platform. For both online and in-store purchases, the card allows 3% cash back on dining and 2% cash back when it is is used for grocery stores.
Mastercard’s Sherri Haymond, EVP, Global Digital Partnerships, said: “The new DoorDash Rewards Mastercard is created to connect people to their communities through digital solutions, simple payment experiences and on-demand access.”
Among other benefits, the launch offer for new cardmembers includes a free year of DashPass and for a limited-time a $100 cash bonus after spending $500 on purchases in the first three months from account opening.
Ed Olebe, President of Chase Co-Brand Cards, added: “Every order on DoorDash helps local businesses grow, and we’re excited to continue championing the prosperity of local communities through our new cardmember benefits offered both on and off the DoorDash platform.”
