Cashback News – Sept 17: Heavy losses, Quidco & Visa, Amex, Yuno, cashback for Xmas…

Cashback News – Sept 17: Heavy losses, Quidco & Visa, Amex, Yuno, cashback for Xmas…

- in Retail

We’ve got news about profits missing in action for many cashback and e-commerce startups. Quidco and Visa Europe cut a deal to offer customers in-store cashback. not to be outdone,  American Express offers cashback rewards on prepaid debit accounts. New e-commerce site, Yuno, rewards consumers with cashback for purchases and for influencing their social networks. Finally, need we remind you that it’s only 100 days until Christmas? Consumers in the UK are already counting on cashback for gift savings.

E-commerce hype masks heavy losses

The lack of concern about the absence of profits in e-commerce is alarming. From the market leaders such as Flipkart and Snapdeal to the hot new start-ups including Grofers (Locodel Solutions Pvt. Ltd), these companies and their investors have talked up the vast market size and the explosive growth in the number of Internet users….

What is missing in this rosy picture is discussion about whether any e-commerce company in India has built, or is in the process of building, a business model that can generate profits. Read more…

Quidco to cash in with Visa deal

Credit card...Embargoed to 0001 Wednesday November 21. File photo dated 15/06/06 of a Visa credit card. PRESS ASSOCIATION Photo. Issue dateL Tuesday November 20, 2007. More than seven out of 10 credit card customers have had their credit limit increased without asking for it, a survey showed today. Around 71% of people said their card provider had increased their credit limit unsolicited, while 62% of people said they had been sent credit card cheques, which have handling fees and incur higher interest rates than normal purchases, according to consumer magazine Which? Money. See PA story MONEY Card. Photo credit should read: Martin Keene/PA Wire

Quidco, the cashback website, has signed a deal with Visa Europe that it said could transform its high street business.

The company is currently most well-known for offering consumers cashback on their online shopping by passing on commission into members’ accounts. The service works by using internet cookies, which track a shopper’s trail between visiting the Quidco site and making a purchase through a retailer.

However, the group has also been expanding its “in-store cashback” offer, which means shoppers can also get money back on goods purchased on the high street and in supermarkets. Read more…

Today marks 100 days until Christmas and the start of saving

The survey of 2,000 adults reveals the nation’s top tip for keeping an eye on Christmas purse strings is to buy presents early and spread the cost (49%). So much so, an eager 16% started buying Christmas gifts many months ago. Next on the seasonal savings list is redeeming rewards or cashback to support their spending (19%), followed by using discounts and vouchers (15%) to keep their stockings brimming with presents. Read more…

Finextra: Finextra PR: American Express offers cashback rewards on prepaid debit account

Amex logoAvailable today, American Express (AXP) announced Serve Cash Back, a new prepaid debit Account option that will earn Account holders 1% cashback on purchases. Consumers who spend in line with the 2012 – 2013 U.S. Department of Labor national averages for gas, groceries, dining out, clothing, transportation and entertainment using the Serve Cash Back Card could potentially earn more than $400 annually when earning 1% cashback. Read more…


RetailWire Discussion: New shopping site rewards social influencers

yuno-home-pageA new social e-commerce site, Yuno, rewards consumers for influencing their social networks. Users earn a cashback for any purchase made on Buying a pair of $125 Nike sneakers, for instance, earns a user a $3.12 deposit in their PayPal account, according to

But social influence is where users rack up points. Yuno offers a curation of fashion, lifestyle, sports and technology products from Macy’s, Best Buy, Nieman Marcus, Saks Fifth Avenue, Foot Locker and others. The company claims to have a combined inventory of over 70 million products. Read more…

There’s always cashback news on our horizon. You’ve got story tips, editorial suggestions and cashback news of interest, we’re easy reach. Contact us.

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