Bumped was included in the Top 10 Most Innovative Companies for 2019, and for good reason. This app has revolutionized the way customers and brands interact, and it might become the most innovative loyalty program since the cashback or point systems.

Bumped is an investment app that rewards customers with fractional shares of stock. Imagine shopping at your favorite store. It’s run by a company with values you agree with and brands you love. With Bumped, when you make a purchase you become an owner of that company.

It’s finally time for the customer to take back Wall Street from the modern tycoon.

How Does the Bumped App Work?

I’ve been using Bumped for about a year, and it is by far my favorite app. I get stock for buying things at stores I normally shop at. The best part: everything is automated. I don’t need to take pictures of my receipts or send in a rebate.

After you sign up, Bumped will have you create a brokerage account through their app. You’ll then link your cards to the Bumped account, similar to Personal Capital or Mint.

After your cards have been linked, you will choose your favorite brands. You can pick one loyalty brand from each category. The categories include things like gas stations, grocery stores, coffee shops, and more.

If you aren’t crazy about earning a particular stock, some brands will let you receive Vanguard’s Total Stock Market Index Fund VTI instead.

The last step is to continue spending as normal. Bumped will track your purchases and begin rewarding you for eligible transactions. Sit back and watch your stock ownership grow!

The biggest drawback to the Bumped app is that it’s still in beta phase. Because of this, there is a waitlist to join. I was approved in about 2 months, but I’ve read some people waiting 3 to 4 months.

Bumped saves a few thousand spots at the top of each waitlist. If you share your referral link, they will move you up the list. I didn’t know this when I applied, so take advantage!

The only other downside to the app is that brands vary from person to person. This is because customers are approved in waves, based on participating companies at that time. I’m hopeful this will change after the app grows and becomes more popular.

Read more at The Budget Engineer