I love the concept of cashback s a consumer. Not so long ago, websites would offer only a certain amount o0f discount, which if you know your dealers of regular products well, would anyway offer on a face to face basis in real life. It’s easy to discounted goods in real life as well, be it Walmart, or go for cheaper knock offs or a wholesale retailer. However, cashback was a complete game changer in every sense – not only would you get a bigger discount – but also get the guarantee to be assured to come back on the portal and shop more. This clicked instantly with almost all progressive e-commerce giants in India. The idea that certain cashback could be offered on weekly, special days, monthly or really important days was phenomenal. Customers like me were instantly hooked, and for a good reason. If I’m buying something who’s MRP is 1200, I get 200 off as discount and then another 100 as cashback – but that comes with a catch. I would have to spend 1000 one time from my real money, and instantly get 100 points in my accounts. These 100 points can be utilized to shop more, but usually not be transferred back into my account as real money. This works for me – because I’m loyal to my one e-commerce place obediently. So the 100 points I saved would be utilized to recharge my phone additionally, and then I’ll get another 10 points as more cashback on the same! The vicious cycle had me hooked instantly.
However, now there’s another service catching up on the same – referral cashback. Imagine the luxury of your maintain your loyalty for your favorite e-commerce giant and still getting the ability of additional cashback on top of that! These referral agencies usually offer ridiculously less cashback, but it does add up in the long run.
How do they work?
You have to usually use the referral website first. Search your product, goods or service on it. Once selected, use your favorite e-commerce website but be sure you click the link they refer to and not type in the product and search directly on the e-commerce giant directly (or the system doesn’t register the referral).
Once you complete the transaction, the additional cashback is directed to your account between instantly to 72 hours, depending on the website you use.
What are the practical benefits?
Basically, the equation is broken down into:
Product/service – discount + cashback by e-commerce website + additional cashback by referral
The best combination of savings works if you use a good e-wallet to use the cashback and an even better e-commerce giant.
What’re the best options there are?
Personally, my favorite options for referral cashback are:
CashKaro is one the earliest to tap into the referral business. They have a direct search option for products on their website itself, which I dislike personally because I like the comfort and familiarity of my favorite e-commerce searches. Additionally, a con is you have to wait till there are 250 rupees in your cashback account to transfer them to your bank, which going by the 1% (usually) of what they offer is really, really going to take some time.
Lafalafa is very easy to use and relatively new. The advantage of this is that they offer an further one step for more cashback solution, by showing you various schemes of various banks so you can decide which bank account will give you an (eventual) best bonus when you utilize their services.
Mun Archive is an extremely simple referral system started by a young student entrepreneur, the website is as simple as it gets in interface. There are no funky advertisements or annoying forms to fill up. Simply chose the website you want to shop at, and go to the website directly and proceed shopping from there. Once you finish payments after all your discounts and cashback from that website, shoot them an email or Whatsapp the number provided of your transition details and wait around a few minutes to a day and get your cashback either directly in your bank or e-wallet.
Do you use a referral user for cashback schemes on your favorite e-commerce giants? Let us know in the comments on our official Facebook page Entrepreneur India