We’ve got the latest cashback programs, loyalty and promotions news from around the globe. Singapore-based ShopBack opened its sixth operation in Thailand. CashKaro CEO Swati Bhargava talks about her company’s growth, success and expansion from cashback and coupons to add price comparison to the e-commerce shopping site in India.
Flipkart launched a one-day Mega Sale promotion to compete with Amazon Prime Day in India, offering cashback and discounts up to 80%. Not to be outdone, Paytm Mall, the e-commerce arm of Alibaba and SoftBank-backed Paytm, hosted its own three-day Superhit Sale with deep discounts and cashback for Indian consumers. South Africa’s four biggest banks have more than $155 million in unspent loyalty program points by consumers and the question is are banks utilizing this resource to their best advantage?
In the UK, paying with your Santander Apple Pay, Android or Samsung Pay mobile phone app could gain consumers up to 5% cashback during a special two-month promotion. A new TD Business Solutions Credit Card offers Canadian business card customers up to 3% cashback and a $200 sign up bonus.
thirtythree.8 launched a new Virtual Cashback and loyalty program using Blockchain Etherium tokens to offer businesses secure coupon and rebate promotional programs targeted at the estimated two billion “unbanked” consumers around the world. A new Research and Markets global e-commerce report highlights the growth and popularity of cashback programs around the world. UK remortgage company Nationwide dropped its free legal fees program in favor of a new £500 ($655) cashback incentive program.
Singapore cashback startup ShopBack expands to Thailand; its sixth market in the SE Asia
Singapore-based cash rebate service ShopBack has announced its official expansion to Thailand.
Over 100 merchants in Thailand are already onboard the platform. These include online travel booking websites Expedia and Booking.com, beauty platform Sephora, e-commerce giant Lazada, as well as ride-hailing services Grab and Uber. Consumers can expect to receive up to 30 per cent in cashback when using ShopBack.
“Online shopping in Thailand isn’t a trend. It’s part of the everyday retail culture in 2017. We’re discovering ways to connect merchants and shoppers in a way that creates added value for both parties,” said Kawin Prachanukul, Co-founder and Country Head of ShopBack Thailand, in a press statement. Via e27.co
Swati Bhargava says she lives by the dictum ‘Karm karo, phal ki chinta mat karo’
This week, Swati Bhargava, the vivacious co-founder of CashKaro, was in the spotlight answering questions on startups, the cashback business and life in general. To start off with a brief bio of Swati Bhargava, she is a math buff and an alumna of the London School of Economics; she married her college-mate Rohan Bhargava though the Atlantic separated them for three years; started cash-back venture Pouring Pounds with him in the UK after which the couple moved to India to start another successful business, CashKaro.
Today CashKaro.com is a leading player in the Indian deals market and is the only venture capital-backed cashback site. CashKaro has raised $4 million in Series A funding led by Kalaari Capital. An acclaimed social media influencer, Swati chatted with YourStory readers on a bunch of topics, which is encapsulated below.
CashKaro has evolved from just offering cashback and coupons, as they have moved into price comparison as well, which makes them a great overall savings destination. The site also offers savings on offline retailers as well. Via yourstory.com
Flipkart Mega Sale to Counter Amazon Prime Day Sale; Offers Discounts Up to 80%, Cashback and More
Online marketplace Flipkart has come up with lucrative deals and is offering up to 80% off on popular brands. The sale comes after Amazon India announced Prime Day Sale for the first time in India on July 10. The e-commerce giant has now announced a sale festival with discounts up to 80 per cent. The sale offers promising deals on smartphones, apparel, watches, and sunglasses along with EMI options. Apart from all this, Flipkart is also offering heavy discounts on brands that include Adidas, Fossil, Hidesign, Sony and Samsung and more.
The top offers under Flipkart’s exclusive sale consist of ‘Women’s only Wednesdays’ offers up to 70% off on sarees, Samsung phones priced at Rs 2,000 ($31) less than the original cost, top deals on footwear, handbags and lingerie. The e-commerce giant is also offering great deals across its range of clothes, footwear, kitchen appliances and more.
During the sale, jewellery sets are priced at Rs 800 ($12.44) and top deals on various beauty and wellness products are other great grabs. Flipkart is offering a 35 percent discount on automatic washing machines too while a flat 30 percent off on Fossil watches. The online marketplace is offering about 50 percent off on Micromax 50 inch full HD LED TV.
Flipkart’s CEO Kalyan Krishnamurthy on Tuesday was quoted by Economic Times saying that sales are important for Flipkart and that the company is ahead of Amazon. “We at Flipkart (not including Myntra and Jabong), are much bigger and outsell them (Amazon) in all categories, except grocery where we are not present but will be entering soon,” Krishnamurthy said. Under the mega sale, Citi Bank customers can avail he savings on EMI options with their Citi Bank credit cards while customers using HDFC Bank credit and debit cards get an extra 10 percent off. It has to be noted that customers also stand a chance to win 15 per cent cashback if they use PhonePe – Flipkart’s own UPI-based payment app. Via india.comI
Paytm Mall Announces 3-Day Superhit Sale; Offers Up to Rs 20,000 ($310) Cashback on Laptops, LED TVs, Washing Machines and More
New Delhi, July 17: Paytm Mall, the e-commerce arm of Alibaba and SoftBank-backed Paytm has announced the ‘Superhit Sale’ under which the company is offering customers with a wide range of products with amazing blockbuster deals. The three-day sale that begins on July 18 will last till July 20 and is offering deals on popular brands that include Everyday Essentials, Apparel, Mobile phones, laptops, Footwear, LED TVs, Refrigerators, and Washing Machines & More. The website also came up with a Bollywood Bonanza Quiz where anyone who participates is eligible of winning an iPhone 7 along with Exciting Prizes.
The smashing offer under the Paytm Mall Sale includes 30%-70% Cashback on Jeans, Up to 60% Off plus a minimum 30% Cashback on Shirts & T-shirts, Footwear offered at only at Rs. 999, Up to Rs. 20,000 Cashback on Luxury Watches, Minimum 10% Cashback on 5 – 5.5 inch Screen Mobiles, Up to Rs. 20,000 Cashback on Laptops, Up to Rs. 20,000 Cashback on LED TVs, Refrigerators, Washing Machines & More, Up to 60% Off + Free Shipping on Everyday Essentials, the Bazaar Special deals include everything under Rs. 299 along with various other top deals.
According to a report by TOI, Paytm Mall has delisted about 85,000 sellers from its platform as it gears up to take on bigger rivals like Flipkart and Amazon. The move comes because the company is trying to enhance its customer experience on the platform as it has to fight established rivals. In the last week, Paytm acquired a majority stake in Insider.In, the ticketing arm of events company OML Entertainment for events and properties, including NH7 Weekender, EDC and The Grub Fest, for an undisclosed amount. With this move, all Paytm customers discover a wide selection of events and book instantly, a company statement said. The terms of the acquisition remain undisclosed. Via india.com
Are banks using their loyalty programmes effectively?
South Africa’s Big Four retail banks are sitting with more than R2billion ($155 million) in unspent loyalty points, which, given the tough economic scenario, is strange. Surely the discounts redeemable through these points should be sought after as consumers attempt to make hard-earned money go further?
The financial services industry, specifically the big four banks, have offered loyalty programmes for several years now and have acquired important customer transactional data in the process.
But is this data being analysed effectively to create balanced loyalty programmes that are simple to understand, relevant and differentiated? This is what the 2016 Truth Loyalty White paper set out to uncover. use loyalty programmes as a key differentiator in delivering a competitive advantage and in some cases even provide a lifeline during these difficult times. It’s clear, however, that some are achieving this far more effectively than others. Via bizcommunity.com
Santander pays 5% cashback when you pay by mobile phone
Paying for goods and services using your mobile phone could net you 5% cashback with Santander this summer.
Under the offer, Santander 123 Lite Current account customers can earn 5% cashback on all purchases using their debit cards via Apple Pay, Android Pay and Samsung Pay. The two-and-a-half month deal runs from 17 July to 30 September, with the bonus paid out by the end of November.
This cashback deal is being offered in addition to the cashback you can earn on the account when household bills are paid by direct debit. Via which.co.uk
New TD Bank Offering Aggressive Cashback Card Up to 3%
The new TD Business Solutions Credit Card offers a $200 sign up bonus when you spend $3,000 within the first 90 days of account opening and offers strong cash rebate earning.
– 3% on phone, Internet and cable services
– 2% on dining and at gas stations
– 1% on everything else
The card has no annual fee and no foreign transaction fees.
Cashback is a better strategy than airline miles for people who use their credit card spending for domestic economy flights, plus of course cash isn’t limited to travel and potentially earns a rate of return when invested. Via boardingarea.com
CausePlay’s Thirtythree.8 Division Is Launching the Virtual Cashback Token (VCB) and Its Ethereum-Based Blockchain Coupon and Rebate Platform
CausePlay’s thirtythree.8 division is introducing the Virtual Cashback (VCB) token to enable the next generation in retail marketing and engagement. VCB loyalty programs, rebates, coupons and rewards will utilize the Ethereum Blockchain to support greater security, budget controls and a platform for the unbanked to engage in greater detail with brands while addressing existing problems with legacy coupon and rebate processing systems.
thirtythree.8 develops and delivers mobile coupon and rebate applications and redemption processing infrastructure for global brands and retailers. Globally, coupon and rebate activity represents approximately US $20 billion in value per year flowing from brands to consumers. With little change in technology and clearing processes over the past decades, the issue of fraud in the segment has grown to over U.S. $600M annually.
“To address this problem and provide an unparalleled level of security, thirtythree.8 introduced a Blockchain-based solution that provides a cryptographically secured transaction model that can mitigate the fraudulent coupon and rebate activity”, said Chief Operating Officer, Jonas Hudson.
The platform and its flexibility will offer a unique benefit to the more than 2 billion adults worldwide that are considered unbanked, but who regularly purchase consumer products from global brands. The VCB token economy will allow them to store, transmit and redeem value without the requirement of a traditional banking relationship. Via Blockchain News
Global Ecommerce & Other Non-Store Retailers Market Briefing 2017
North America was the largest region in the ecommerce & other non-store retailers market in 2016, accounting for around 40% of the market. This was mainly due to the country’s large urban population and high rate of internet penetration, resulting in high demand for e-commerce services for their shopping needs. Asia-Pacific was the second largest region accounting for around 25% of the market. Eastern Europe was the smallest region accounting for around 1% of the market. This can be contributed to the small population and relative lack of modern telecommunication infrastructure in some areas of the region.
Cashback is the newest trend in the e-commerce industry for customer acquisition, better branding and efficient market capitalization. Cashback is a form of incentive offered to customers where they receive a cash refund in their digital wallet after making their purchase from the e-commerce website. The cashback offer not only increases the initial demand for the product but also the probability that a customer purchases again on the same company’s website. It is beneficial for customers as well as companies as the customer receives extra cash for the next purchase and the company receives repeat purchase and customer loyalty.
For instance, ShopClues offered cashback on purchase of iPhone using MoBiKwik wallet which helped in improving loyalty among its customers along with first-timers feeling special. Flipkart and PepperTap are also offering cash back through the Paytm wallet, thus indicating an increase in the use of cashback offers., Several banks are also offering cashback for purchases made through the bank’s app or cards. ScotiaBank launched a campaign providing 10% cashback to customers making payments through its Apple Pay app. Via satPRnews
Nationwide scraps remortgage free legals, doubles cashback
Nationwide is today ending free legals for remortgage cases and is instead doubling its cashback from £250 to £500.
Free legals have a chequered reputation among brokers, with many criticising poor service levels and calling on lenders to increase cashback.
A Nationwide spokeswoman says: “From Thursday 13 July 2017, Nationwide has decided to withdraw the free legals option for customers remortgaging to the Society and, at the same time, have increased the cashback alternative from £250 to £500.” Via mortgagestrategy.co.uk