Lynx-Powered · Live 7/1/26 · GLP-1 Phase 1

GoodRx helped Americans
find savings. Now it's
moving the money.

GoodRx built the most trusted prescription savings brand in America. The next chapter is bigger: becoming the payment and settlement layer for healthcare — eliminating fee leakage, owning the transaction, and building the loyalty infrastructure that makes patients come back.

3–4% Stripe fees eliminated per transaction
$3.5B Rebates GoodRx moves annually
$10B+ Card fees paid by GoodRx retail partners annually
<1s POS adjudication, all pools
Total Available Balance
$996.50
Subsidy $250 Employer $300 Rebate $399 Rewards $47.50
Wallet Breakdown
GLP-1 Subsidy
$250.00
Employer Benefit
$300.00
Mfr. Rebate (real-time)
$399.00
Linked Checking
Backup
GoodRx Rewards
$47.50
Pay at Pharmacy →
The Opportunity

We sit next to billions in healthcare transactions. It's time to sit inside them.

GoodRx has become the most trusted brand in prescription savings. But trust alone isn't infrastructure. Every time a patient fills a prescription, money settles somewhere. Today, GoodRx is adjacent to that settlement. GoodRx Pay puts GoodRx inside it.


Becoming the payment layer means four things: owning the preferred payment method on GoodRx.com, eliminating the 3–4% Stripe fees GoodRx pays on every transaction today, settling $3.5B in manufacturer rebates in real time instead of delayed batches — capturing float and new economics — and extending closed-loop rails to preferred pharmacies like Walgreens, splitting the interchange savings as a new revenue stream. The Lynx-powered Subsidy Wallet launching 7/1/26 is the first proof point — and the chassis for all of it.

2011 → Today
Savings Discovery & Referral
Compare prices, show coupons, redirect patients. Enormous consumer value — but GoodRx is external to the transaction. Payment settles through Stripe at 3–4% cost. No loyalty engine. No owned economics.
Phase 1 · 7/1/26
GoodRx Pay — Preferred Payment Method
Members activate a Subsidy Wallet, back it with their checking account or HSA, and set GoodRx Pay as their preferred payment method on GoodRx.com. First use case: GLP-1 subsidies. Transaction routes closed-loop through Lynx — eliminating Stripe fees entirely.
Phase 2 → Platform
Critical Payment Infrastructure
The same wallet chassis scales to every GoodRx transaction: Companion subscriptions, employer benefits, manufacturer rebates, payer-funded balances, gig-worker stipends, and GoodRx loyalty rewards — one infrastructure, fee savings reinvested into the loyalty flywheel.
Platform Roadmap

From GLP-1 wallet to full payment infrastructure.

Three phases. One chassis. Each milestone expands the same Lynx-powered wallet into a wider set of constituents and use cases.

July 1, 2026
Phase 1 · Live
GLP-1 Subsidy Wallet
First point-of-care GoodRx Pay launch. Members activate subsidy wallet backed by HSA or checking. NDC-level adjudication via Lynx in <1s at POS.
Manufacturer subsidy wallet
HSA + linked checking backstop
Closed-loop · zero Stripe fees
Lynx NDC controls live
Oct 1, 2026
Phase 1B
GoodRx Companion Payment
GoodRx Pay becomes the preferred closed-loop payment method for Companion subscriptions — eliminating Stripe fees on every recurring charge. First time GoodRx routes its own subscription revenue through Lynx.
Companion monthly billing via Lynx
3–4% Stripe cost eliminated
Preferred payment stored on GoodRx.com
Loyalty earn on subscription
Jan 1, 2027
Phase 2 · Scale
Rebate Real-Time Settlement
GoodRx's $3.5B manufacturer rebate flow routes through Lynx card rails — settling pharmacies at POS instead of in 2–4 week ACH batches. GoodRx captures float economics and manufacturer data loop.
$3.5B rebate flow on Lynx rails
Pharmacy made whole at POS
Float interest income captured
Real-time mfr. compliance data
2027+
Phase 2 · Full Platform
Any Funding Source · Any Wallet
The wallet chassis opens to all constituents. Employer-funded gig worker stipends, payer balances, health plan off-benefit formularies, preferred pharmacy closed-loop, and GoodRx loyalty — all on one Lynx infrastructure.
Employer-funded gig worker wallets
Health plan / payer-funded balances
Preferred pharmacy interchange split
GoodRx loyalty as full wallet currency
Launching now
Same wallet · new revenue line
Same wallet · new economics
Same wallet · every constituent
1
Chassis
The same Lynx wallet infrastructure powers every phase. There is no rebuild between milestones — only new funding sources loading into an existing, proven chassis.
Phase 1 GLP-1 wallet → Phase 1B Companion billing → Phase 2 rebate settlement → Phase 2 full platform. One set of Lynx APIs. One GoodRx wallet experience. Four distinct revenue streams added without starting over.
How It Works · Lynx as Critical Infrastructure

One card swipe. Every source. Under a second.

Lynx is the payment engine underneath GoodRx Pay — handling drug-level eligibility, multi-purse routing, and real-time settlement before the pharmacist hands over the bag.

🧬
NDC-Level Controls — the Moat

Most payment platforms restrict to a merchant category. Lynx enforces eligibility at the 11-digit NDC code — exact drug, dose form, and strength. A GLP-1 subsidy approves Ozempic 1mg NDC 00169-4130-11 and blocks everything else in the same transaction. No generic payments infrastructure does this.

💳
Physical & Virtual Card Issuance
Branded GoodRx Pay cards carrying multiple account pools. Virtual or physical. Unique Card Identifiers — no PCI exposure.
🔗
Plaid-Linked Checking Backstop
Members link their bank once via LynxPlaid.js. Lynx holds the token and auto-draws ACH if funded balances run short. Zero friction at the counter.
Sub-Second POS Settlement
Card swipe → Lynx adjudicates all pools → applies in sequence → settles. Card swipe, direct ACH, or bill pay. All under 1 second.
🏗️
8-Week Launch Timeline
New wallet programs go from concept to compliant launch in 8 weeks. Each new funding source is a configuration — not a rebuild.
G
GoodRx Pay
Account active
Total available balance
$996.50
Subsidy $250 Employer $300 Rebate $399 Rewards $47.50
GoodRx Pay
•••• •••• •••• 4821
Wallet breakdown GET /member/{id}/accounts
GLP-1 subsidy
PHARMA_01 · NDC-locked
$250.00
Employer benefit
EMPLOYER_RX · Priority #2
$300.00
Mfr. rebate (real-time)
REBATE_01 · Lynx rails
$399.00
Linked checking
ACH_BACKUP · Plaid
Backup
GoodRx Rewards
REWARDS_01 · 1.57% earn
$47.50
Powered by Lynx · real-time adjudication
The $3.5 Billion Wallet Opportunity

GoodRx already moves $3.5B in manufacturer rebates. Now that flow belongs inside the wallet.

Today, manufacturer rebates settle as anonymous ACH batches — weeks after the transaction, invisible to the patient, a liability sitting on the pharmacy's balance sheet, opaque data for the manufacturer. GoodRx Pay transforms the rebate into a named wallet account tied to the individual: the transaction, the drug, the patient, and the rebate all live inside one cohesive GoodRx-controlled record.

👤
Tied to the individual
Every rebate is now linked to a specific patient, drug, NDC, and fill date — not a faceless batch payment. GoodRx owns the unified record of the entire transaction.
🏪
Preferred pharmacies get paid faster
Walgreens, CVS, Kroger, and Albertsons carry balance sheet risk on delayed rebates today. GoodRx Pay settles them at POS via Lynx card rails — a structural incentive to become GoodRx Pay preferred partners.
🏦
GoodRx earns on the float
GoodRx holds the rebate account pre-settlement. On $3.5B in annual flow, even a short float window generates meaningful interest income — a new revenue line that didn't exist in the coupon model.
How the Zepbound Transaction Actually Works Today — and How It Should Work
Today · Fragmented Settlement
GoodRx Pay · Real-Time Settlement
List Price
$1,300
Zepbound sticker price
vs
List Price
$1,300
Zepbound sticker price
GoodRx Negotiated Price
$349
Patient pays at counter
GoodRx Negotiated Price
$349
GoodRx Pay wallet activates
Employer Subsidy Applied
−$200
Patient owes $149
Employer Subsidy Pool
−$200
Patient owes $149 → drawn from checking or HSA
⚠ Manufacturer Rebate
Delayed 2–4 weeks
ACH batch to pharmacy. GoodRx earns a processing fee. Pharmacy carries the balance sheet risk until settlement.
✅ Rebate Wallet Pool — Settled at POS
Real-time via Lynx card rails
GoodRx holds the rebate account. Pharmacy is made whole at the point of sale — not in 2–4 weeks. GoodRx earns economics on the float and the settlement. Manufacturer gets real-time compliance data.
The Loyalty Economics Thesis

The rebate wallet is the foundation. The loyalty program is the prize.

Once GoodRx owns the payment rail — for subsidies, rebates, employer benefits, and consumer-directed funds — it has everything needed to build the most powerful loyalty program in retail healthcare. Target and Starbucks showed how. GoodRx can do both, at a scale neither reached in healthcare, and extend it to every partner pharmacy and supermarket in the network.

Target · RedCard
Eliminate interchange. Pass it back as loyalty.

Target's RedCard links to the customer's personal checking account. When it swipes, the transaction routes ACH-direct — bypassing Visa and Mastercard entirely. Interchange cost: near zero. Target reinvests as 5% off every purchase, fully funded by the eliminated fee.

~$200M
Annual interchange saved
5%
Returned as loyalty
Starbucks · Stars
Stored balances create the habit. The wallet is the relationship.

Starbucks holds over $1.6B in pre-loaded customer balances — more float than many regional banks. Stars drive return visits, app engagement, and higher average ticket. Pre-loading creates lock-in; float generates interest; rewards accelerate cadence.

$1.6B
Customer balances held
Habit
App = the relationship
Rx
GoodRx Pay · The Grand Vision
The foundation of this program is GoodRx's most powerful loyalty moat — for itself, and for every pharmacy and supermarket in its network.

GoodRx Pay combines Target's interchange elimination with Starbucks's stored-balance habit — and adds a third dimension neither of them had: a $3.5B rebate flow that can fund the loyalty program itself. Fee savings from routing transactions closed-loop get reinvested as patient rewards. Rebate float generates income. Stored subsidies, employer balances, and loyalty points create the recurring engagement that turns GoodRx from a price-search tool into a lasting financial relationship.

The dimension that goes furthest beyond anything Target or Starbucks built: GoodRx can extend this loyalty infrastructure across its entire preferred partner ecosystem. A Walgreens, Kroger, Albertsons, or H-E-B that routes transactions through GoodRx Pay gets lower card acceptance costs — and in exchange, participates in a co-branded loyalty program offering GoodRx rewards to patients who fill at their stores. GoodRx becomes the loyalty layer sitting across the entire retail pharmacy and supermarket industry. The flywheel compounds with every new preferred partner.

💸 Fee Elimination → Patient Loyalty
Like Target: 3–4% Stripe savings redirect to GoodRx rewards. Every closed-loop transaction earns. Patients get real value. GoodRx captures the economics and the habit.
🏦 Stored Balances → Habit Loop
Like Starbucks: subsidy, employer, rebate, and rewards balances sit loaded in the wallet. Funded value creates the reason to return. Prescriptions are monthly — the natural cadence for behavioral lock-in.
🏪 Network Loyalty → B2B Revenue
Beyond both: pharmacies and supermarkets earn preferred status, lower card fees, and GoodRx co-branding — in exchange for closed-loop routing. Loyalty becomes a B2B revenue model, not just B2C.
The Preferred Partner Loyalty Network
Walgreens
Lower card cost → preferred badge → GoodRx co-brand rewards
Kroger / Albertsons
Supermarket pharmacy + grocery → joint loyalty program with GoodRx
CVS / Walmart Rx
Fastest-growing script channels → incentivized by rebate settlement speed
Independent Chains
Regional pharmacies and grocery chains — all accessible through one GoodRx Pay preferred network
Preferred Pharmacy Network · The Closing Argument

GoodRx's top pharmacy partners pay
$10+ billion in card fees every year.

That's the addressable opportunity when GoodRx extends its closed-loop payment rails to its preferred pharmacy network. The same infrastructure built for the GLP-1 wallet. The same Lynx rails. New relationships, new revenue — and a structural reason for every major pharmacy chain to make GoodRx Pay their preferred payment partner.

The Pharmacy Interchange TAM — Built From Public Revenue Data
Pharmacy Partner
Annual Rx Revenue
Retail Share
Est. Card Volume
Est. Card Fees @2%
Walgreens
~8,700 retail locations · GoodRx partner
$90.8B
~60%
~$54B
~$1.1B
CVS Pharmacy
~9,000 retail locations · GoodRx partner
$119B
~45%
~$54B
~$1.1B
Walmart Pharmacy
~4,700 in-store pharmacies · GoodRx partner
~$34B
~90%
~$30B
~$600M
Kroger Pharmacy
~2,200 locations · GoodRx partner
$17.1B
~85%
~$14.5B
~$290M
Albertsons / Safeway
~1,800 pharmacy locations · GoodRx partner
~$12B
~85%
~$10B
~$200M
Costco Pharmacy
~570 locations · High-volume members
~$8B
~90%
~$7B
~$140M
Publix + Other Regional Chains
Publix, H-E-B, and regional independents
~$20B+
~85%
~$17B
~$340M
GoodRx Preferred Partner Network · Aggregate Annual Card Fees
Based on 2025 public dispensing revenues from Drug Channels Institute. Retail card volume at 45–90% of Rx revenue. Fee rate: 2% average merchant acquiring.
$3.8B
Named partners above
Add mail-order, Amazon Pharmacy's OTC mix, and the full independent pharmacy long tail — total addressable pharmacy interchange across GoodRx's partner ecosystem exceeds $10 billion annually.
$10B+
Total addressable pharmacy interchange
Simple Revenue Scenario — What Penetration Looks Like
Conservative · 5% of partner volume
$190M
GoodRx's 50% share of interchange savings across 5% of the $3.8B named-partner fee pool
Base · 15% of partner volume
$570M
GoodRx's 50% share at 15% penetration — achievable as GoodRx Pay becomes the preferred payment default
Upside · Full $10B+ TAM, 20%
$1B+
20% penetration of the full $10B+ ecosystem including independents, mail-order OTC, and expanding GoodRx Pay adoption
Revenue scenarios are illustrative, based on estimated 2% merchant acquiring fee rates and 50/50 GoodRx/pharmacy interchange split. Actual figures subject to negotiation and adoption rates.
Every GoodRx Transaction That Can Route Closed-Loop
One preferred payment method. Zero Stripe fees. Across the entire GoodRx product surface.
💊 GLP-1 Subsidy Wallet
Phase 1 launch. Manufacturer subsidy + HSA or checking backup. Transaction routes Lynx, not Stripe.
🏥 GoodRx Companion Subscription
Recurring monthly charge currently processed via Stripe. Reroute to GoodRx Pay — immediate 3–4% cost recovery on every renewal.
💳 Lynx Flex Card (HSA/FSA-linked)
Lynx-issued card backed by HSA, FSA, or checking. One card, multiple benefit pools, no third-party network fee on the GoodRx portion.
⭐ Any Future GoodRx.com Transaction
As GoodRx Pay becomes the stored preferred payment method on GoodRx.com, every future checkout routes closed-loop by default. Stripe fees become a rounding error.
Transaction Logic

Price → Adjudicate → Pay → Earn.

Six steps. One GoodRx experience. Under one second.

1
Price the Prescription
GoodRx + Lynx determine the exact GoodRx price for this drug, dose, and pharmacy in real time.
2
Adjudicate Eligibility
Lynx checks which wallet pools apply — manufacturer subsidy, employer benefit, plan balance — using SKU-level rules.
3
Apply Funded Balances
Subsidy and employer dollars draw first, in configured sequence. Third-party funding covers the max before consumer dollars touch.
4
Backstop with Checking
If funded balances don't cover the full amount, Plaid-linked checking auto-funds the gap. Patient pays nothing extra manually.
5
Complete in GoodRx
Payment settles entirely within the GoodRx ecosystem. GoodRx captures interchange economics and transaction data.
6
Earn Loyalty & Higher Margin
Payment savings redirect to GoodRx rewards balance. Higher-margin transaction captured. Patient engaged for next fill.
End State Vision

One GoodRx wallet. Every dollar in healthcare.

Not a card. Not a coupon. Not a fragmented benefit. One elegant wallet where every pool of value lives together — and sequences automatically at the point of care.

The GoodRx Pay Wallet
Multiple funding sources. One experience. Fully GoodRx-controlled.
💊
Manufacturer Subsidy
Funded by pharma
🔄
Rebate Wallet
$3.5B flow · real-time settlement
🏢
Employer Benefit
Funded by employer
🏥
Plan / Payer Balance
Funded by health plan
💳
Linked Checking / HSA
Consumer-directed backstop
GoodRx Rewards
Loyalty earnings
↓ ↓ ↓
Powered by Lynx · Closed-Loop
GoodRx Pay
One wallet. Auto-sequenced. Under 1 second.
<1s
POS settlement
6+
Wallet pools
📉
Lower payment cost
📊
Owned transaction data
🔄
Habit loop & retention
💰
Higher-margin economics
GoodRx Pay is NOT
Just a card
Just a coupon or discount code
Just a loyalty barcode
A fragmented point solution
External to the transaction
GoodRx Pay IS
A closed-loop consumer health wallet
Multi-source funded, auto-sequenced
Price + payment + loyalty in one experience
A platform that scales to many constituents
GoodRx owning the full transaction moment
The Full Opportunity

GoodRx helped people
find the savings.
Now GoodRx moves the money.

GoodRx Pay is the path from discovery utility to critical payment infrastructure — owning the moment dollars settle in healthcare, eliminating fees, settling rebates in real time, and earning a share of the $10B+ in interchange GoodRx pharmacy partners pay every year.

3–4%
Stripe fees eliminated
$3.5B
Rebates — now real-time
$10B+
Pharmacy interchange TAM
7/1
Phase 1 launches
See the full economic model →
Payment infrastructure Powered by Lynx docs.lynx-fh.com · Card Issuance · Plaid Integration · NDC Controls · Real-Time Adjudication