Who says shopping is only about spending money? With Drop, you can make money during the process, too. The millennial-focused rewards program launched in the U.S. on Tuesday, October 10 after meeting with success in its home country of Canada. Fresh off a $5.5 million funding round, it’s no wonder that Drop will be available to help you earn some extra cash even as you exercise your credit card.
Promoted as the most user-friendly, flexible rewards program available, Drop allows shoppers to collect all their rewards in a single app, rather than collecting countless brand-specific cards or creating various accounts. Simply link your credit or debit card to the app and start collecting points — think of it as an extension of your existing credit card rewards program (after all, it’s just as easy to use).
“Drop offers what young people want: a seamless experience,” says founder and CEO, Derrick Fung. “We are incredibly excited to begin our expansion into the U.S. to give millennials a platform to earn the easiest rewards they’ve ever earned, doing what they already do daily.”
Featuring a truly impressive list of merchants, Drop’s cross-merchant rewards experience gives shoppers an almost alarming level of flexibility when it comes to collecting points for shopping. With brands including Sephora, Bloomingdales, The Body Shop, Amazon, Under Armour, MeUndies, and Boxed, you’ll have no shortage of stores (both online and brick and mortar) to peruse with the added benefit of collecting perks. Be warned though — don’t take Drop as a sign that you can spend in a free-for-all — those points don’t rack up that quickly.
Drop also notes that it’s a boon to brands, as shoppers can link multiple cards to their Drop accounts, giving partner brands a more holistic view of customers’ shopping habits. The privacy implications are a bit alarming, sure, but are you really going to put down your plastic anytime soon?
“Drop is a unique concept that brings brand-agnostic rewards to millennials to give them a fun, intuitive experience they crave, while also giving brands an opportunity to hook new, loyal customers,” said Mark Fernandes of Sierra Ventures, one of Drops’ investors. “We’re excited to be an integral part of Drop’s international expansion and seeing them scale beyond the massive success they’ve seen in the Canadian market.”
