What is Cashback and How Can You Benefit From it?
Online sales have grown a lot in recent years, and with it, the practice of cashback. Let’s see what cashback is and how you can benefit from it.
Cashback and chargeback – don’t mix them up.
Before we tackle the benefits of cashback, beware of the concept of chargeback, which sounds similar but is totally different.
It primarily stands for the return of funds In the event of unauthorized transactions. Many chargeback companies could assist you in reimbursement of your funds in case you suspect fraudulent activity on your credit card while purchasing online.
These companies can reimburse the amount of the disputed transaction and possibly, the charges and incident costs that the operation may have generated.
Making money with cashback.
Cashback enables you to make extra cash. The principle is simple: it is a question of reimbursement for part of your purchases on a partner site. The cashback app thus pays the buyer a percentage fixed in advance depending on the site on which he made the purchase.
This percentage varies from 2 to 40% and is among the most advantageous rates of remuneration in the cashback industry.
To take an example, if the cashback is 10% on a merchant site and you have purchased for an amount of € 50, the cashback app will return € 5 to the buyer’s account.
The larger the purchase, the higher the refund. On average, a member registered with a cashback app accumulates more than 100 € per year and easily increases his purchasing power.
This type of cashback works on the principle of recommendation: by offering a link on its site, a cashback app brings customers to partners. They reward him by paying him a commission for each sale made through them.
This commission shares between the cashback app and the user who makes a purchase in a store. This system allows the partner to gain new customers.
How to benefit from using the cashback app?
For this to work, you simply need to have a free, non-binding account on a cashback app and make your purchase on a partner store by clicking on the redirection links offered. You generally just have to click on “activate cash back” and get the redirection to the chosen merchant site to make your purchases.
The cashback is generally calculated on the amount excluding taxes and shipping costs. In addition, reimbursement sometimes limits to certain categories of products on the partner site (for example, on shoes, but not on household appliances, etc.).
As soon as you make the purchase, the cashback is recorded. Then it’s validated by the partner store within an average of one month.
If the customer returns the item, the cashback automatically cancels. The user can get money back by bank transfer when the amount has reached € 10 in cumulative cashback. Refunds are usually immediately visible in the user’s account. Even if the validation does not occur immediately, the average time is one month. That allows you to verify that your cashback has been taken into account during the purchase.
