EN
Cashback is a financial benefit that originated several years ago, initially in the retail sector, as a strategy to boost sales. Over time, it became an important decision-making factor for consumers, attracting those seeking immediate financial advantages. This concept quickly expanded into the B2B world, with companies adopting payment methods offering cashback as a way to optimize spending and improve cash flow.
Cashback benefits both B2B and B2C companies, enabling them to encourage consumption, increase engagement, and improve customer loyalty, while also helping customers boost liquidity and reduce operational costs.
Cashback is a financial benefit where the user gets back a percentage of the money spent on a purchase or transaction. This amount is typically credited to the customer's account or applied as a discount for future transactions.
Cashback operates like a rewards program in which the user gets a portion of the amount spent in a transaction back. Here’s how it generally works:
1. Making Purchases: The customer uses a payment method, such as a credit card, debit card, or platform offering cashback benefits, to make a purchase.
2. Percentage of Return: A percentage of the total purchase amount is returned to the customer. This percentage can vary depending on the financial institution or program, being either fixed or changing based on the type of spending or promotional campaigns.
3. Receiving Cashback: Cashback may be credited directly to a bank account, accumulated as a balance on the platform offering the benefit, or applied as a discount on the next bill or purchase.
4. Rules and Conditions: Cashback programs generally have specific conditions, such as minimum spending thresholds, restrictions on product categories, or limits for redeeming the accumulated amount.
Cashback provides several advantages for both consumers and companies, including:
Immediate Savings: Cashback allows the user to receive a percentage of their spending back, either as credit or a discount, leading to direct savings.
Improved Cash Flow: For businesses, cashback helps improve cash flow by offering returns on expenses, encouraging more efficient financial management.
Customer Loyalty: Cashback programs are attractive to consumers, promoting brand loyalty and engagement, which can increase purchase frequency.
Increased Liquidity: Consumers can use cashback for future purchases or payments, improving their financial liquidity.
Ease of Use: Cashback is easy to redeem, either as credit or discount on future purchases, making it convenient to access the benefit.
When using Jeeves corporate credit cards, your company can benefit from various advantages, such as 1% cashback for expenses exceeding USD 250,000. For expenses below this amount, you will earn 0.5% cashback. Cashback earnings are applied as a discount on the following credit card bill, ensuring savings and liquidity for your business.
If your company spends USD 300,000 (three hundred thousand dollars) on the credit card, you will receive USD 3,000 (three thousand dollars) as a discount on the following month's credit card bill.
Assuming your company spent less this month, USD 160,000 (one hundred sixty thousand dollars), you will receive USD 800 (eight hundred dollars) as a discount on the next credit card bill.
🗒️ Tip: Check here for other benefits that corporate cards can bring to your business.
Take advantage of all the benefits of the Jeeves Business Card and generate cashback returns that can be reinvested into your business. With the option to issue unlimited free cards for your entire team, with no shipping costs or annual fees, you can earn up to 1% cashback on purchases. Request your card today and start enjoying the advantages!
*The cashback offer is available in certain regions. Please contact our sales team for more information.
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