Immediately, we welcome again Andrew Chau, Co-founder & CEO at Neo Monetary. He’s right here to share some thrilling updates to their merchandise. Thanks a lot for taking the trip of your busy schedule to reply our questions Andrew. We additionally actually respect you with the ability to have a good time our upcoming 10 12 months anniversary with us too!
1) Please inform us about your self and your function with Neo Monetary.
I grew up in a small city at the back of a household owned restaurant. Each these issues framed how I take into consideration our mission at Neo. I perceive what number of Canadians are undeserved with monetary merchandise right now, and the way digital options could make them accessible to everybody. It’s additionally all the time been clear to me how essential small companies are to Canadians. We constructed our cashback rewards community so that companies of all sizes can work together and supply bonuses to their prospects.
2) What’s new with the Neo Monetary bank card since we final interviewed?
We’ve added hundreds of rewards companions and now have over 11,000. This consists of main fuel and grocery companions, permitting us to place extra money again within the pockets of Canadians at a very tough time. We additionally just lately introduced our Neo Secured Credit score – a card that gives the power to construct credit score historical past with assured approval and all the identical premium rewards because the Neo Card. For many who are on the lookout for a debit-like expertise with cashback, we additionally launched our Neo Cash card – a card and account that offers you a similar rewards because the Neo bank card however spending from the money you have got in your checking account.
3) Are you able to give an extra breakdown on how the as much as 5% money again works. There may be restricted info on the web site. The 15% appears to be a one-time buy solely? Is there a purchase order restrict?
The Neo Card gives immediate limitless cashback at over 11,000 accomplice areas. This equates to a median of 5% cashback at Neo companions and as much as 15% on first time purchases throughout all of those areas. Which means as a Neo cardholder,you have got hundreds of alternatives to entry the primary time buy cashback. The thrilling factor right here is the number of rewards and number of retailers; a few of our most tasty gives can attain over 10% frequently. Neo additionally offers a assured cashback on playing cards – for our normal, you earn a minimal of 0.5% on your entire spend, and that’s earned month-to-month, in comparison with friends the place cashback is paid as soon as per 12 months.
4) What can we stay up for with Neo?
We’re constantly bringing new companions on to the community and including new product options. A few of the largest manufacturers in Canada might be becoming a member of us on the community this fall and we’re excited to announce them once we can publicly share. You may count on to see options that assist Canadians higher handle their cash, and in the end assist attain their monetary objectives day-after-day proper within the Neo app.
5) We’re closing in on our ten-year anniversary. Do you have got any ideas for us as we embark on our subsequent 10 years?
You present a fantastic service to Canadians, at a time when each further greenback is essential to households. One factor we all the time encourage our companions to drive in the direction of is evaluating the true worth of all rewards suppliers. A whole lot of our opponents have excessive gives with expirations, complicated level conversions, restricted conversion choices, or footnotes on {qualifications}. For instance we see many first time gives solely achievable if a buyer is transferring $100,000 (which is unattainable by most Canadians). We attempt to tremendously simplify our platform by exhibiting individuals their cashback immediately, with the quantity all the time accessible to pay their payments or add to their Neo Cash account to earn curiosity on each greenback. Companions like yourselves have all the time carried out a fantastic job surfacing gives. We stay up for being part of your story and need you all the perfect within the subsequent 10 to come back!