National News

What is Cashback: Business Opportunity for Merchants

‘Making your business stand out’ is the tagline of My World Group, a service oriented solution company. Having strong online presence in 47 countries across the globe, the company offers a ‘cashback world partner program’ for merchants, a partnership that promises to improve marketing and sales efforts of entrepreneurs involved in retail and ecommerce.

What is a cashback reward program? It is an incentive program wherein a percentage of the amount is paid back to the buyer. Credit card companies run programs that encourage use of the card – and card holders are given points, frequent flyer miles, or monetary amount as ‘cashback’ for using their credit card. It is a common practice in the United Kingdom and United States, and is slowly being adapted in the Philippines.

Cashback World offers benefits for shoppers in the likes of ‘cashback’ and ‘shopping points’. Members are given ‘cashback’ and ‘shopping points’ for every transaction to loyalty merchants. Over time, users can redeem their accumulated shopping points to loyalty merchants. Merchant partners of Cashback World include Lazada Ph, Zalora Ph, and Metrodeals to mention a few.

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