Number of stores and brands
Rakuten has cash back offers at over 3,500 online stores, which is a good bit more than the 2,000 stores that Ibotta partners with. Although both companies work with a variety of retailers, Ibotta generally has more offers at grocery and convenience stores, while Rakuten has a larger selection of department stores and popular brand names. That said, in my experience using both apps, I've found that Rakuten has far more cash back offers for local restaurants and stores than Ibotta.
How cash back is earned
Ibotta and Rakuten require you to activate offers before you make a purchase. But between the two, Rakuten involves fewer steps.
To earn cash back with Rakuten, you just need to link a debit or credit card, then pay with that card at the retailer whose offer you activated. The purchase is tracked via the card and will be credited to your account later.
For Ibotta, you earn cash back by uploading receipts. All receipts have to be uploaded within seven days for the purchase to qualify. You can also link loyalty cards to your account and earn cash back that way. However, at this time, you can't track purchases using debit or credit cards, which means you have to keep track of your receipts and upload them promptly.
Minimum cash out
When cashing out, Ibotta offers more convenience. Basically, you can cash out anytime after hitting $20 in earnings. While Rakuten has a much lower redemption amount -- you only need $5.01 to cash out -- it only pays out four times a year: Feb. 15, May 15, Aug. 15, and Nov. 15. Outside of those days, you can't redeem your earnings, no matter how much you've accumulated.
How you get paid
Ibotta will let you transfer rewards via PayPal or exchange them for gift cards. Rakuten also lets you transfer rewards via PayPal, but it can also send you the dollar value of your rewards as a physical check.