# Accrue

> Accrue is a New York fintech that powers modern customer loyalty at the payment layer. Its brandable, stored-value digital wallet lets merchants take control of their payments and refunds, reward repeat customers, and reduce reliance on traditional card networks. Founded in 2021 by Michael Hershfield as a 'save now, buy later' alternative to BNPL, the company has expanded into a full-stack wallet, reward engine, pay-by-bank payments and closed-loop refunds used to lift order value and shopper frequency.

- **Founded:** 2021
- **Headquarters:** New York, New York, United States
- **Founders:** Michael Hershfield (Founder and CEO)
- **Team size:** 39
- **Products:** Accrue Wallet, Reward Engine, Payments (Pay-by-Bank), Fund, Refunds
- **Notable:** Named to TIME's Best Inventions of 2022, Recognized as a Best Financial App of 2022, Recognized as a Top Innovative Start-Up of 2023

## Products & services

- **Accrue Wallet** — A brandable, stored-value loyalty wallet embedded into a merchant's checkout, giving brands a direct financial relationship with customers.
- **Reward Engine** — A dynamic incentive system with configurable reward rules that steer customer behavior - cashback, bonuses and personalized incentives.
- **Payments (Pay-by-Bank)** — Multi-tender payment acceptance including a low-cost pay-by-bank rail that reduces transaction fees and rewards customers for paying from their bank.
- **Fund** — Pre-funding and crowdfunding capability that lets shoppers save toward future purchases - the evolution of Accrue's original 'save now, buy later' model.
- **Refunds** — A closed-loop credit system that returns money into the branded wallet, converting refunds into repeat purchases and instant store credit.
- **Agentic Wallet** — An AI-enhanced wallet solution bringing automation and intelligence to the loyalty and payments layer.

## Achievements

- Named to TIME's Best Inventions of 2022
- Recognized as a Best Financial App of 2022
- Recognized as a Top Innovative Start-Up of 2023
- Reports +45% average order value and +25% shopper frequency for merchants
- Reports 36M+ customer journeys influenced
- Raised over $29M (publicly reported) from Tiger Global and notable operators

## Latest updates

- **2025-01** — Accrue expanded its platform beyond save-now-buy-later into a full-stack branded wallet with pay-by-bank payments, a reward engine and closed-loop refunds.
- **2025-07** — Third-party estimates put Accrue's annual revenue near $3.8M as it focuses on merchant wallet adoption.
- **2023-07** — Founder Michael Hershfield discussed modern savings culture on the Localogy podcast.

## Links

- Website: https://www.byaccrue.com
- LinkedIn: https://www.linkedin.com/company/byaccrue
- Twitter/X: https://twitter.com/byaccrue

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Profile page: https://yespress.io/accrue
Published by YesPress — https://yespress.io
Last updated: 2026-07-22