What are Cashback Websites?
Top Cashback websites are websites that pay cash rewards to buyers when they click through from them to buy goods and services from retailer websites. They basically offer an ideal combination of spending money with earning money which all customers wish for. They return their users a percentage of the transaction amount from qualifying purchases.
The basic idea is that the user makes the purchase from the retailer website by clicking through the link given on the best cashback website instead of going and buying from the physical store location.
In this case, even though the item is provided by the retailer, the customers get paid a cash reward for the transaction made by them.
Cashback websites differ based on the form of cashbacks which they offer. While some websites provide customers a percentage of the total transaction amount, others have a fixed amount which they offer for every transaction.
Cashback websites carry links for all sorts of retailer websites – groceries, toiletries, electronics or even insurance policies or broadband deals. Cashback offers are provided for all.
How do Cashback Websites Work?
Cashback websites work between the retailer websites and the customers, forming a coherent business model. So, the top cashback websites basically function in this way – The cashback websites have cashback offers and deals and with these exclusive deals, the cashback websites redirect the customers to the retailer website. Then the customer makes the purchase from the retailer. Once the purchase is complete and the payment is confirmed, the retailer pays part of the transaction amount to the top cashback website as commission. Hence, cashback websites then pay a percentage of the transaction amount back to the customer. In this way, the buyer saves money, even while spending it.
Thus, the business/retailer has no role in giving cashback to customers. It is done by the cashback website. Cashback is actually paid to cashback websites as commission for advertising and promotions, for sending customers to the retailer websites. This explains how they (cashback websites) generate revenue.
It depends on the cashback website how much time will be taken before the customers get their cashback. Some websites give it in 4-6 weeks. Others take a few months in giving cashback. The websites observe a certain time gap between the purchase and cashback being offered so it is ensured that there are no cashback payments for products being returned or canceled.
Cashbacks are given to the customer in many forms. Bank transfers, gift vouchers, bank checks, mobile recharges or online orders are some forms of providing cashback to users. They may also be offered on online payment sites such as PayPal. Some of the top cashback websites keep a minimum amount level so that the customer has to reach a certain transaction amount and make purchases accordingly to be eligible for cashback.
Many of the top cashback websites give rewards when users refer others to their websites. They also offer other rewards to increase their users and to maintain customer loyalty.
What are the Advantages of Cashback Websites?
Following are the advantages of cashback websites –
- Purchasing for the first time on particular websites gets more cashback than other websites. Some websites even offer signup bonus. And some reward users with up 100% cashback.
- Users can earn passive income sitting at home by just shopping online.
- These websites have a huge number of partner retailer websites so there are limitless choices of goods and services to choose from.
- Users get more cashback and rewards for referring others to the websites.
- Due to strong competition between each other, the websites tend to match their rates so if customers are aware and updated, they can get the best deals.
- Some websites even give rewards for simply registering, filling out survey forms, and asking for quotations.
- Some websites even allow you to get cashback when you buy from physical stores by downloading their applications or registering for their cashback using cards. The plus point is that you get to keep additional cashback apps.
