Mobile payments and loyalty platform LevelUp has created a mobile app for First Trade Union Bank. The app, called FT Pay, marks LevelUp’s first partnership with a full-service bank.
FT Pay users gain the ability to pay with their phones at any LevelUp merchant location, and gain access to LevelUp credit and exclusive First Trade offers. First Trade is also matching savings from merchant discounts, and will deposit up to $25 as a bonus for new customers.
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The partnership with First Trade marks a new step for LevelUp in its quest to reach scale with consumers. At an analyst meeting on Wednesday, LevelUp revealed that it’s signed on with 5,000 merchants and has a million active users, and that the typical LevelUp users uses the app two-to-three times per week.
LevelUp also revealed that it’s signing up larger merchants than in its earlier days, and that it’s integrated with 20 POS platforms. LevelUp also claims to account for 4.5 percent of the volume a merchant sees when they use a LevelUp-branded solution, and 25 percent of volume with a white labeled solution.
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