Taken away by money but brought back by cashback
- 13 Jul, 2021
It does happen sometimes that you earn money while spending it. Yes, it really does. This is what we call cashback in the commercial world.
What is cashback?
The meaning is clear even just from the word itself which comes from the States: Cash + back = your cash making its way back to you. Since the 90s, people in the States have been using card payments and receiving bonuses for certain purchases, in the form of coupons. The more the purchases, the more the bonus coupons
Nowadays, even in movies, payments are made through cards or apps in order to not waste paper.
How exactly does cashback work?
This is a trilateral, beneficial cooperation, one of the shareholders of which seem to be you. How? Take a look:
You buy new shoes within the bonus system
Accordingly with the price of the shoes you bought, some interest in returned to you
The store gives money away from every single one of its sold products to the cashback service
Then, the cashback service provides some of the received money to the buyer in turn
Come back soon
As a result of this trilateral deal each shareholder benefits.
The store has buyers, the products are consumed
The cashback system becomes a connecting bridge and guides its subscribers to specific addresses where its partners are
The buyer gets a hold of his/her dream shoes, receives cashback and aggregating bonuses which s/he will be able to spend in the future on the perfect clothes for the new shoes.
What are the different types of cashback?
There are 3 types of cashback:
Cashback through card - there are different types of cashbacks through card. It’s possible for the bank to provide a certain type of cashback opportunity as a reward for being its customer. For example, the bank will cooperate with the store where you got your shoes from, you will pay with your bank card and as a result, everyone involved will be pleased. You may have Visa cards and during transactions, the organisations will provide you with cashbacks.
Cashback through app -For example, you are using an app for calling a taxi and respectively, with each of your journeys, cashbacks are accumulated and you might even be able to pay with your cashbacks one day. Similarly, any organisation that operates with this principle and provides financial services, can also provide cashbacks.
Digital wallet -The main advantage of the digital wallet is that you can see everything in one place. Unlike the apps, in the case of which you have to download several apps for different shops and if one closes down, so does the app, in the case of the digital wallet the closing down of any stores can’t harm your purchases.
Which digital wallet is worth it?
Alongside the easy peasy life, the dark side of it has also come to the digital world throughout the years. One can encounter robberies from bank accounts literally every day. These types of situations also happen in Armenia. Therefore, when choosing a digital wallet, you should also make sure that you’re safe from hackers.
Easywallet is safe from the security point of view as well.
You can upload your bank cards, do your shopping, make transactions happen and receive eye-pleasing cashbacks - all in the easywallet.
Download easywallet through these links: