Dollar General has rolled out new financial services aimed at giving customers new banking options and payment alternatives, the company said in a Tuesday (March 8) news release.
The budget retailer says these services include the launch of spendwell, its exclusive banking platform, a pilot buy now, pay later (BNPL) program with Sezzle and a new FIS Worldpay card reward points system.
According to Dollar General, spendwell is being offered through a partnership with InComm Payments and includes a bank account, Visa debit card and mobile banking app. The company said it has waived the retail purchase price to open an account through Sept. 30 of this year and will give customers a complimentary $10 deposit into their spendwell account after their card registration is approved.
The program lets customers access services like direct deposit, online bill pay and the ability to add cash at Dollar General stores.
Meanwhile, the company said it plans to launch a test of a BNPL option with Sezzle at more than 1,700 stores in Texas. The program will let customers pay for their purchases in four zero-interest installments.
Read more: Dollar General Says No Plans to Raise Core Product Prices, Unlike Dollar Tree Rival
Last year saw Dollar General announce a major expansion, with nearly 3,000 real estate projects planned for this year, including 1,110 new stores that will greatly expand the retailer’s Popshelf store concept and see the company moving outside the U.S. for the first time.
By the end of 2022, Dollar General aims to have as many as 10 stores in Mexico, which CEO Todd Vasos said will help “lay the foundation for future growth.”
The CEO said the number of Popshelf stores in the U.S. is expected to triple this year, and “given the sustained and positive performance of our Popshelf concept,” Dollar General will accelerate the pace of new store launches to have roughly 1,000 Popshelf locations by the end of 2025.
Popshelf, unveiled in 2020, is aimed at shoppers wealthier than those who typically shop at Dollar General locations. The store carries items such as home goods, seasonal décor and party supplies. More than 90% of the merchandise sold by Popshelf costs $5 or less.
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