Meridian’s New, Automated Price Matching Service Puts Dollars Back Into The Pockets Of Members

In a victory for price conscious consumers, Meridian has announced the pilot launch of ‘Price Drop’ – a free service that automates the traditionally time-consuming process of price matching, promising to put real dollars back in the pockets of thousands of Members.

While 75 of the top retail chains in Canada all offer price matching, research shows that only between five and eight per cent of shoppers actually take advantage of these price matching policies. The biggest reasons for those low numbers? Well, it comes down to the time and effort typically involved in price matching, along with a general lack of awareness of lower prices being offered subsequent to a purchase.

With Price Drop, Meridian has automated the process. After making your purchase, either in-store or online, simply snap a photo of your receipt using the Meridian mobile app or submit your receipt by email. Meridian will then search for price drops on any of the items you’ve purchased. If Meridian finds a better price, we’ll notify you by email or via an in-app notification and automatically claim the refund or share the proof you need to claim the difference in cost from the retailer.

Price Drop is the first of its kind to be offered by a Canadian financial institution. It is free-of-charge for Meridian Members and there is no limit to the number of receipts that can be submitted or refunds received.

Meridian partnered with Winnipeg-based fintech company Pricerazzi in order to bring Price Drop to its Members. In a recent survey of 1,500 Meridian Members, 82 per cent said they’d be interested in trying a price matching service. The Price Drop pilot launched in early November with Meridian employees and select Members. The service is expected to launch in the first quarter of 2019.

To see Price Drop in action, or to get on the waiting list for when it goes live, visit www.price-drop.ca. You can also download the Meridian app from the Apple App Store or Google Play.

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