Unfortunately, credit card fees have become so high that we can no longer support them via Pay with Ibotta. In fact, we lose money on a majority of our credit card-based transactions. Transitioning to debit cards only will allow us to provide even better Pay with Ibotta rewards at hundreds of retailers and restaurants like Walmart, The Home Depot and Starbucks. In the future, we hope to roll out additional ways to pay to provide more flexibility with the same quality of offers, convenience and security as you expect.
2. Is using a debit card as secure as using credit cards?
Using a debit card can be as secure as using a credit card as long as you take the appropriate precautions and monitor the transactions on your card statement frequently. If you ever see a fraudulent charge on your debit card, act fast: if you alert your bank within 2 business days of the fraud, your liability is limited just like it is on a credit card. If you wait longer than that, your liability could be greater. Check out the Electronic Funds Transfer Act from the FDIC for more information. Whether you’re using credit or debit cards, we recommend setting spend alerts through your bank so you can quickly identify any spend you don’t recognize.
On Pay with Ibotta, all of your payment information is protected with 256-bit bank-level encryption. We are never able to see this information, and it is only used for Pay with Ibotta transactions.
We partner with leading payment processing services that undergo routine security audits. Our partners adhere to the most stringent levels of certification available in the payments industry, and we pride ourselves on using best-in-class tools and practices to ensure your security.
3. I get cash back rewards with my credit card, why should I switch to debit?
We realize that you may get different rewards in certain categories with your credit card, and we recommend comparing the rewards you get with Pay With Ibotta against those you get with your credit card before you shop. In some cases, you might get other rewards from your credit cards at certain retailers, and in those cases you may prefer to pay with that credit card. However, when you use Pay with Ibotta, you can get up to 20% cash back at our over 100+ retailers as well as take advantage of bonus offers, prepayment, and balance tracking. We think that you’ll find that this offsets a flat reward you would get with a credit card in most cases.
Also, Pay with Ibotta is a safe, contactless way to pay at your favorite retailers both online and in-store ensuring no need for physical tender exchange between you and the cashier.
4. Can I get more information about Ibotta’s privacy and security policy?
Yes, please click this link to view our privacy and security policy.
Included below are steps you will need to take moving forward.
- If you do not have a debit card on file, please add a Visa or Mastercard debit card to your account by tapping Account > Payments > Payment methods and following the instructions.
- If you do have a Mastercard or Visa debit card on file, please use the debit card moving forward.
Note: The debit card you already have on file will be set as your default payment method. No action is required on your part.
- If you currently have a Discover or American Express debit or credit card on file, please add a Visa or Mastercard debit card to your account by tapping Account > Payments > Payment methods and following the instructions.
Thank you for your support as we continue to improve Pay with Ibotta.