Chexy has established a partnership with Mastercard.
As loyalty programs evolve, consumers are increasingly looking for ways to earn rewards on categories that have traditionally been excluded from rewards ecosystems, according to a statement from the Toronto-based fintech startup.
“Rent, bills, taxes and insurance are not optional expenses, but historically they have been disconnected from rewards ecosystems,” explains Liza Akhvledziani Carew, cofounder and chief executive officer of Chexy.
The Canadian fintech, which helps consumers earn cashback and Aeroplan rewards on essential expenses, announced that users can now link Mastercard credit cards to pay bills through its platform.
As a result, Mastercard cardholders can now use Chexy to make eligible bill payments while continuing to earn the rewards associated with their preferred card.
“Our mission is to help consumers get more value from payments they are already making,” says Carew. “By adding Mastercard to the platform, we’re giving Canadians more ways to access their credit card rewards, flexibility, and choice while continuing to simplify how they manage their finances.”
Mastercard is “focused on supporting innovation that helps Canadians get more out of every payment—unlocking greater choice, flexibility, and everyday value,” according to Balinder Ahluwalia, who functions as senior vice president of Market Development and Digital Partnerships for Mastercard in Canada.
“Our collaboration with Chexy expands how and where Canadians can use their Mastercard,” Ahluwalia stated, “combining choice, convenience, and trusted security to create more meaningful payment experiences.”
Serving more than 200,000 Canadians, Chexy’s platform has processed $1.5 billion in payments and helped users earn over $35 million in rewards, boasting 500% year-over-year growth in payment volume.
Earlier this year, Chexy raised $14 million in a Series A round led by Khosla Ventures.
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