Walmart is growing how it works with the rewards platform Ibotta, developing digital offers and rebates through the mobile app and platform that go back directly to a shopper’s online Walmart account to be used toward future purchases or a membership to Walmart+.
Ibotta is a mobile app and rewards platform that began in 2012, and it works with more than 1,500 brands and retailers, where a shopper can go in-store using the app and complete tasks or access exclusive offers on items to get cash back in the app or redeemed toward gift cards, hotels, events and more. Bentonville, Ark.-based Walmart has worked with Denver-based Ibotta since 2018, but the new development between the companies is that Walmart shoppers will now be able to redeem rebates and cash directly into their Walmart accounts to be used for future Walmart purchases online or toward a Walmart+ membership.
Both companies said they’re also looking into integration opportunities with Walmart’s broader financial services offering, as the two have entered a multi-year partnership.
“We’re pleased to partner with Ibotta to bring unmatched digital offers to Walmart shoppers while still giving customers a consistent way to save,” said Janey Whiteside, executive vice president and chief customer officer, Walmart U.S. “The partnership is a win-win. We’re able to find new and exciting ways to help customers save even more with Walmart, all while propelling our business forward, driving loyalty and creating new ways for us to engage suppliers.”
As an additional component of the agreement, Walmart will be joining the Ibotta Performance Network (IPN), the first digital network that enables cash rebates to be delivered in a coordinated fashion across large third-party sites including social media networks, recipe sites and other platforms. Walmart customers on those platforms will be presented with digital offers for relevant products, which they can select and seamlessly add to their Walmart digital cart for online or in-store shopping.
“In expanding this important relationship, we are thrilled to bring the value of closed-loop cash rebates and the IPN to the world’s largest retailer and all of its customers,” said Bryan Leach, founder and CEO, Ibotta. “Walmart has been an innovative leader in retail for six decades, and we are honored to work with them on this program and to be their exclusive third-party provider of digital item-level rebates on Walmart platforms. Walmart’s participation in the IPN will further enhance our ability to drive significant traffic and sales to their stores and digital properties.”