The program allows rebates to be redeemed via cash provided directly to customers’ Walmart accounts for use on future Walmart purchases, applied toward the retailer’s Amazon Prime-like Walmart+ membership fees, or used toward grocery delivery costs. Walmart also said the parties “envision integration opportunities with Walmart’s broader financial services offerings.”
Under the agreement, Walmart will also join the Ibotta Performance Network, which enables cash rebates to be delivered in a coordinated fashion across large third-party sites, including social media networks, recipe sites and other platforms. Walmart customers on those platforms, when presented with digital offers, will be able to “seamlessly add to their Walmart digital cart,” the retailer said.
“The partnership is a win-win,” said Janey Whiteside, exec VP and chief customer officer of Walmart, in a statement. “We’re able to find new and exciting ways to help customers save even more with Walmart, all while propelling our business forward, driving loyalty and creating new ways for us to engage suppliers.”
Walmart’s increased involvement with Ibotta is likely to fuel more interest from packaged goods marketers in the online rebate platform. Despite Amazon’s faster growth, Walmart remains the biggest U.S. retailer and has a disproportionate share advantage in grocery products over Amazon.