A NEW rebate that will rival Quidco can save buyers a lot of dollars.
With skyrocketing rates and the need to live through a crisis, there’s no more time to pay and make your money work.
Now, a new company will offer cashback to shoppers by allowing them to buy thousands of products directly from it.
The new app, called ChaChing, will launch in the U. K. this week before arriving in the U. S. The U. S. government will be released next month, Sky News reports.
Among ChaChing’s co-founders is Alastair Lukies, who served as prime minister during the reign of UK fintech ambassador David Cameron.
It aims to counter the rising advertising fees charged through tech giants such as Google and Amazon.
Retailers that use the biggest tech corporations to sell have to give back a large portion of their revenue.
ChaChing claims that the style contracted through those giants has vastly higher advertising costs.
We’ve reached a point where stores are forced to spend up to 50% of the price of each and every online sale on promotional rates just to search for results on the engine.
But ChaChing says they can accomplish this by constantly allowing partners, such as stores, to decide their rate based on the order.
Most of this sum would then be returned to the customer.
ChaChing-style shoppers are reportedly said to save between 15% and 50% on their online purchases.
And get instant cashback shortly after your online payment.
One example cited through the company a visitor who bought a pair of shoes for £100, while the store had spent £20 on advertising for ChaChing.
In this scenario, a customer can get up to £18 per immediate transfer to their bank account.
ChaChing would keep the difference.
The new app will rival Quidco, the leading cashback site, which offers cashback when you shop at more than 5000 of your favorite retailers.
By shopping on the Quidco website, you get a percentage of the cash you spend so you can spend it however you want.
On average, the Quidco member receives a cashback of £300 per year and the site promises the best cashback deals in the UK.
They have two club features and one is free.
Sources close to Cha Ching appear to claim that he has hired stores such as Debenhams, Fenwick’s, and TM Lewin as business partners.
ChaChing has also won the support of business figures such as John Thompson, former chairman of Microsoft, chairman of Abrdn, Sir Douglas Flint and Garry Lyons, former head of generation leaders at MasterCard.
Two of the co-founders of London-based advertising M,
ChaChing also plans to give consumers the ability to donate a portion of their donation to charity, and Great Ormond Street Hospital signed up for that purpose.
It works to offer cash rewards to NHS staff through its intranet, while The Mum Club, a networking platform for mothers, has agreed to promote ChaChing to its members.
Other partners are reportedly being met through ChaChing.
“We are very excited to partner with ChaChing as we continually look for the most efficient and effective way to reach millions of new customers,” said Dan Finley, CEO of Debenhams.
“We need to be at the forefront of innovation in our industry, and that’s why we’re ChaChing launch partners. “
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