Paymi Review 2022: Get Cash Back When You Shop

Photo of author

by Enoch Omololu


Advertiser Disclosure

Paymi is a Canadian cash back app that puts money back into your pocket when you shop online or in-store. The Paymi app is similar to the Drop Rewards app which is available in Canada and the United States.

When you sign up for a new account and link in your debit and credit cards, cash back is automatically credited to your account when you make a purchase at participating retailers. There’s no need to upload your receipt, track your spending, or clip coupons.

You also receive a $5 bonus on sign-up.

Paymi is simple to use and you get paid without much effort. This Paymi review covers what you need to know about the rewards app.

What is Paymi?

Paymi is a “Shopper marketing program” that rewards you when you shop at select retailers. The app came onto the loyalty rewards scene in 2018 and has since partnered with CIBC and a host of other brands and retail stores.

Paymi is free to join ( and is available in the App Store and Play Store.

How The Paymi App Works?

If you have used Drop, then using Paymi is going to be familiar as it is very similar in operation other than a few differences.

When you sign up, you will be asked to connect your bank cards. This process is seamless and involves signing in using your online banking details. All the main banks are supported.

The app tracks your transactions and will credit you automatically when you shop. The cash back you earn via Paymi is in addition to whatever cash back or points rewards your credit/debit card is already paying you.

When you sign up, you receive a free $5 bonus after completing your registration – no promo code required!

Paymi Review and Partner Brands

Paymi Partner Brands and Retailers

Paymi has partnered with various brands and retailers so that you earn whenever you shop at these places.

CIBC: You get double the cash back when you make your purchase using a CIBC debit or credit card. CIBC’s business and U.S. dollar accounts or cards are not eligible for this offer.

Retailers: Paymi has partnered (currently or in the past) with retailers including Burger King, Lululemon, Zara, Lowe’s, Swiss Chalet, Mark’s, Leon’s, SportChek, Aldo, Walmart, Starbucks, Sobey’s, Contiki, Lion World Travel, Insight Vacations, Milestones, Winners, Netflix, Spotify, Hudson’s Bay, Trafalgar, Ren’s Pets, Old Navy, Sephora,, Indochino, Inabuggy, etc.

How To Redeem Your Paymi Cash Back

Generally, cash back rewards show up in your account within 1-2 business days. You can withdraw funds and deposit it in your bank account using Interac e-Transfer. 

For withdrawals of $25 or more, there is no fee. However, if you want to cash out before your account reaches a $25 balance, a $1.50 fee is applicable.

Is Paymi Safe?

When an app connects to my bank account, I’m concerned about what they have access to and if the rewards being offered are worth giving up my private information.

Using CIBC as an example, when you log in to the Paymi app, they share your name, year of birth, postal code, gender, email address, and transaction history.

Your transaction history helps inform Paymi so they can send you relevant cashback offers and also award you cash back when you make an eligible purchase.

That said, Paymi does not get access to your bank account or login credentials and cannot withdraw money from your account. They also say they are committed to protecting your personal information.

I like that CIBC has a partnership with the company, which to me, means that they are a legit business. However, at the end of the day, you have to decide how comfortable you are with sharing information, how much information, and to whom.

Is Paymi Worth It?

In addition to Paymi, I use a bunch of other cash back apps to save money when I shop with either debit or cash. Some of the benefits of Paymi include:

Free cash back: The app is free to join and the 1% to 30% (Lowe’s had a 30% one recently) money back is free money on purchases you are going to make anyway.

Easy to use: You do not need to keep your receipts. The cash back is automatically tracked and credited.

Paymi referral code: When your friends sign up using your unique Paymi referral code or link, you receive a $5 bonus per referral.

Double up rewards: You can double up on cash back rewards by combining Paymi with another app (such as Drop and Caddle), while also earning whatever rewards are offered through your credit card loyalty program.

Downsides of Paymi

One downside of the app is that there are limited cash back options.

The participating retailers and offers change and unless you are shopping the available offers, you will not earn cash back.

If you are spending cash (debit), the KOHO app pays you cash back on all purchases and is a better option.

Paymi vs. Rakuten

Rakuten (formerly eBates) automatically tracks your online purchases and credits your balance with cash back earned through offers and discounts.

It is a lot more popular than Paymi and has partnerships with more than 750 retailers in Canada and 2,500 in the U.S.

To earn with Rakuten, sign up for a free account and visit the site prior to shopping at your favourite retailer’s online store.

New Rakuten users get a $30 bonus after completing their first online purchase of $30 or more via the site. Your earnings are paid out quarterly through PayPal, cheque, or Amazon gift cards.

Paymi vs. Drop

Paymi and Drop are very similar in that you earn rewards automatically after adding your debit and credit cards to your account. Also, both have specific offers and retailers where you earn rewards.

The main difference between the apps is that while Drop gives you points that you can later redeem for free gift cards, Paymi credits your account with real cash you can deposit in your bank account.

Get a $5 bonus when you open a Drop account and link a payment card.

Overall, my review of the Paymi app is a positive one. If you shop regularly at the retailers featured on the app, your savings may be worthwhile.

Related Cash Back Apps in Canada

Paymi App Review


Paymi is a Canadian cash back app that pays you every time you shop at one of their partner brands or stores. Sign up for Paymi using the link below (no promo code required) for your $5 welcome bonus!

Top Rated Offers this month

Find personal loans at the best rates in Canada

Compare rates across multiple lenders on one platform.

Get loans for various purposes within 1-2 business days.

Competitive interest rates start at 2.99% APR.

Borrow up to $50,000 for 4-60 months.

Get the best cashback prepaid card in Canada ($20 bonus)

Earn up to 2% cashback on cash and debit spending.

Pays 1.20% savings interest on your balance when you set up direct deposit.

Pay no FX fees abroad and get access to early payroll.

Use our CASHBACK referral code for a $20 cash bonus (applies after your first purchase).

Overall best crypto exchange in Canada + $50 bonus

Crypto trading platform for beginners and advanced traders.

Low trading fees at 0.20% and multiple fiat currencies supported.

$50 instant bonus when you deposit $200.

Trade 16 popular cryptocurrencies.

Free fitness app that pays you to exercise

Earn points when you walk and exercise.

Exchange points for fitness gear, cash, iPhones, and more.

Enjoy bonus points and sweepstakes while staying fit.

Retirement 101 eBook - 3D


Photo of author
Enoch Omololu

Enoch Omololu is a personal finance expert and a veterinarian. He has a master’s degree in Finance and Investment Management from the University of Aberdeen Business School (Scotland) and has completed several courses and certificates in finance, including the Canadian Securities Course. He also has an MSc. in Agricultural Economics from the University of Manitoba and a Doctor of Veterinary Medicine degree from the University of Ibadan. Enoch has a passion for helping others win with their personal finances and has been writing about money matters for over a decade. He has been featured or quoted in The Globe and Mail, Winnipeg Free Press, Wealthsimple, Financial Post, Toronto Star, CTV News, Canadian Securities Exchange, Credit Canada, National Post, CIBC, and many other personal finance publications.

His top investment tools include Wealthsimple and Questrade. He earns cash back on purchases using KOHO, monitors his credit score for free using Borrowell, and earns interest on savings through EQ Bank.

2 thoughts on “Paymi Review 2022: Get Cash Back When You Shop”

  1. Paymi is awsome, I use it at Burger King, H&M, Zara, Staples. The cashback adds up pretty quick and then you can get an e transfer. Right now if you use this code you get double the sign up bonus (10$ instead of 5$)

    Use it in the refer section:

  2. Use this paymi code to get 10$ sign up in the refferal

Leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.