The feeling of getting rewarded for making a purchase is priceless. Cashback is an incentive or bonus given to buyers, whereby a cash refund is received after purchase. After a sale is made, customers earn back a percentage of the amount spent on the purchase price. Cashback promotions play an important role in the growth of businesses since it permits businesses to satisfy customers without devaluing or discounting products.
Flutterwave has partnered with VISA to reward customers with 10% cashback when customers spend a minimum of N60,000 or $150 in at least 3 transactions from now to the 15th of September. This partnership seeks to let businesses know they can pay with confidence. Visa will also protect customers if a purchase goes wrong and protect them from being left out of pocket due to fraud or scams with their Zero Liability Policy. Visa’s Zero Liability Policy guarantees that customers will not be held responsible for unauthorized charges made with their account or account information. Customers are protected if their Visa credit or debit card is lost, stolen or fraudulently used, online or offline.
Why does 10% cashback matter to your businesses?
With businesses aiming to enhance the loyalty of customers, a 10% cashback can regularize purchases and retention. Customers are likely to make recurring purchases once they are rewarded for payments made. Customers knowing that they will be rewarded for spending specific amounts of money ($150 or NGN60,000) will therefore frequent their visit to your store or establishment, attract new customers to your business and enhance customer acquisition.
Cashbacks will also enable businesses not to discount or devalue their products due to competitive forces to attract new customers or retain existing customers. Discounting products can sometimes lead to the making of losses. Hence, a 10% cashback instead of a 10% discount enables the business to get the product’s full amount, leading to profitability. This will therefore increase the flow of cash into the business rather than reducing revenue through discount offers.
To partake in the 10% cashback offer, ensure you are a Flutterwave merchant or sign up as a merchant today and encourage your customers to make payments with VISA as a payment method.
This offer lasts from now to 15th of September 2021.