Prizeout Adds Rewards to Tandem’s Expense-Sharing App

Prizeout and Tandem have partnered to boost the purchasing power of couples who split expenses.

With this new collaboration, couples who use the expense-sharing app Tandem can choose to “settle up” through Prizeout, where they will see money-saving offers from merchants that are customized for them, the companies said in a Wednesday (May 3) press release.

“Especially with the current inflation rate, we’re beyond thrilled to be partnering with Prizeout and offer our users additional purchasing power on their everyday spend or many trips together,” Tandem Co-Founder Daniel Couvreur said in the release. “We built Tandem to create a better option for couples who share finances — a solution without friction, with transparency, and ultimately now, rewards.”

The Tandem app enables couples who don’t want to have a joint bank account to split expenses through the app without having to calculate what’s owed or request payment, according to the press release.

With the addition of the Prizeout option, offered by the AdTech company, couples can choose to see merchants that have been geo-targeted to them along with offers of additional purchasing power that average 12%, the release said.

“Our value prop is truly helping consumers capitalize on their purchasing power,” Prizeout CEO and Founder David Metz said in the release. “We’re literally paying couples to split their expenses.”

The Prizeout platform connects partner firms with consumers who are typically looking to “cash out” and gives those consumers access to bonus offers through gift cards and other rewards, Metz told PYMNTS’ Karen Webster in an interview posted in March 2022.

This gives consumers brand-related bonus incentives that are worth more than a simple cash out, and enables brands to turn cash disbursements and withdrawals into rewards that ultimately grow their revenues and cement their customers’ loyalty, Metz said at the time.

“If a consumer’s withdrawing a hundred dollars, we allow them to withdraw $111, but it’s earmarked for a specific brand, whether it’s Amazon or local gasoline or a restaurant,” Metz said.

In another permutation of this concept, Prizeout is at the heart of a newly formed credit union service organization (CUSO) called Prizeout Partners that aims to extend this offering to credit unions and their members.

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