Dollar General’s new offerings aim to increase access to financial services and provide additional payment methods for customers.
Marian Zboraj|Digital Editor
Source: progressivegrocer.com, March 2022
Retailer increases access to banking options, provides additional customer payment alternatives
Discount grocer Dollar General Corp. is providing its customers more financial flexibility by introducing new services that increase access to banking options and offer additional payment alternatives.
“Today’s announcement highlights Dollar General’s focus on supporting our customers and communities by extending financial service accessibility and payment options,” said Emily Taylor, Dollar General’s EVP and chief merchandising officer. “In keeping with our purpose-driven mission of Serving Others, we continually search for additional services and flexible solutions to help make our customers’ lives easier.”
The new services include Dollar General’s exclusive spendwell banking platform; a buy-now, pay-later test program with Sezzle; and FIS Premium Payback options.
The spendwell Financial Service is a new bank account that allows customers to access and manage personal finances. Through a partnership with InComm Payments, and issued by MetaBank, the spendwell Bank Account and Visa debit card is now available at Dollar General’s more than 18,000 stores, as well as through a dedicated online platform and mobile banking app. Spendwell will provide customers with two financial account options, including one with no monthly fees and another that allows customers to earn 1% unlimited cash back to be redeemed on purchases at Dollar General. Both account options include an accompanying Visa debit card, which can be used everywhere that Visa debit cards are accepted, and spendwell app access to manage everyday expenses, pay bills and more.
To celebrate the spendwell launch, InComm and Dollar General have waived the retail purchase price to open an account through Sept. 30. The purchase price will increase to $1 beginning Oct. 1. Also, through Sept. 30, customers will receive a complimentary $10 deposit in their spendwell account after an approved card registration.
Shoppers who opt for a spendwell account can get direct deposit and access wages up to two days early, add cash at Dollar General, access online bill pay, and use subaccounts to help keep their family spending and budgets on track.
Meanwhile, the DG Buy Now Pay Later program is powered by Sezzle and will be tested at more than 1,700 stores in Texas. The buy-now, pay-later purchase option will provide customers with zero-interest payments on purchases, allowing them to pay four installments, and giving them additional flexibility when purchasing items at Dollar General stores or for in-store pickup on the DG App or online. When customers apply via the DG App, they receive an instant response detailing their spending limit. Dollar General will evaluate the DG Buy Now Pay Later powered by Sezzle test to assess expansion opportunities.
Additionally, the FIS Premium Payback options are being piloted at more than 18,000 Dollar General stores. FIS’ Premium Payback is a real-time rewards redemption network. Customers have an option to redeem eligible credit and debit card rewards points toward their Dollar General purchase. Customers with eligible FIS bank debit and credit cards may redeem 1,000 credit card points for $5 toward their purchase of $5.01 or more.
These financial offerings and payment solutions are in addition to Dollar General’s existing roster of digital offerings, which include DG Self-Checkout, DG Pickup, DG Digital Coupons, DG’s Cart Calculator and Shopping List, and DG Rewards.
Goodlettsville, Tenn.-based Dollar General has more than 18,000 stores in 47 states. The company is No. 15 on The PG 100, Progressive Grocer’s 2021 list of the top food and consumables retailers in North America. Dollar General is also PG’s 2021 Retailer of the Year.
