Supported by a scalable distribution model through merchant partnerships.” We are now in position to stand behind a truly unique, mass market value proposition that will disrupt and challenge monoline providers of financial services. A proposition that we have built to align to our mission of helping customers build long term wealth on autopilot. “We are excited to announce the launch of this revolutionary, world-first PNPL Stockback product, designed to help customers grow their money as they spend. Te recent Wealth Health Report “revealed 9 in 10 worry about their financial situation, with more than 1 in 4 saying they’re not confident about achieving their savings goals.”Īdditionally, “while 86% agree building long term wealth is important, the biggest barriers are the rising cost of living (67%), followed by a lack of savings, unexpected expenses, and living paycheck to paycheck (each 37%).”Ĭonsumers simply need a smarter way to spend and grow their money. Ontop of this, we are seeing an increase in the use of revolving credit cards to help smooth their cash flow, which increases the likelihood of trapping many people into a spiralling debt cycle due to compounding interest on outstanding balances.” The Aussie dream of owning a home is now increasingly out of reach for gen-z and many millennials. ![]() “The majority of Australians are currently feeling stressed about their finances thanks to the steep increase in interest rates to combat rising inflation. The Douugh Pay gateway product is “on track to launch in Q2FY24.” Stockback rewards will be funded directly by the Merchant, with Douugh charging a processing fee of ~2.0% to the Merchant.” Stockback is Douugh’s proprietary rewards offering “designed to be the growth catalyst for the acceleration of Douugh’s flywheel.”Ĭustomers earn ‘free money’ as they “spend and become investors.”Įstablishing good money behaviors, “thereby encouraging them to commit to a recurring investment using their own money, which Douugh monetises through a monthly subscription.”Ĭentral to Douugh’s scale up plan is “the launch of Douugh Pay.”Ī payment gateway solution for Merchants “to process payments that will be automatically debited from a customer’s Douugh transactional account.”įor the first time, online Merchants will be “able to offer their customers Douugh’s unique Stockback reward program, with the flexibility of Pay Now or Pay Later features integrated into a seamless checkout experience at point of sale.”ĭouugh will handle “the end to end settlement with the Merchant and the Customer. ![]() ![]() These micro loans are “funded off balance sheet and issued by a third party lender, allowing Douugh to maintain its ‘capital-lite’ operation.” The Pay Later Spot feature “will quickly be expanded to help customers fund bigger purchases over a longer period of time.” The Pay Now option “allows customers to spend funds from their Douugh transaction account.”Ĭustomers can also “choose to Pay Later by having Douugh ‘Spot’ them funds to smooth their cash flow, splitting purchases into 4x weekly instalments for a flat $1.25 fee per repayment, with no interest or hidden fees.” For the first time through a single card offering, customers can “earn up to 7% Stockback on everyday spend.”Ĭashback rewards that are “automatically invested into their chosen managed Portfolio on the Douugh platform.”
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