In today's world, millions of people prefer to buy goods online, which often becomes not only a more convenient alternative to brick-and-mortar stores, but also allows you to save money.
One of the factors that increases the rating of online shopping compared to traditional retail outlets is the cashback service. Key information about such a relevant financial instrument and descriptions of the top cashback services chosen by our compatriots are provided in the text below.
What is a cashback service?
A cashback service is an online platform that cooperates with a large number of stores and services and returns to their customers who have purchased a product or used a service a certain percentage of the money spent on the corresponding purchase.
The strategy of such a popular service is to attract customers.
Cashback services work according to the following principles:
- enable a store/service company to earn money from selling goods/services and save on advertising, gaining loyal customers/clients;
- for their work, they receive a fee from the partner, which is partially shared with the buyer (the other part becomes the cashback service's profit);
- The client gets the opportunity to save on purchases by returning part of the spent funds in real money.
That is, after paying for goods or services using the methods specified in the terms of charging for this service, the buyer receives the right to charge the payment, which is most often carried out without delay.
Banks also offer cashback programs, but they are somewhat different from cashback services. The relevant difference is that banks receive income from the use of issued cards for cashless payment options. In this case, the following algorithm is typical: client - seller - payment system - bank - client. Banks limit the amount of cashback and can pay it in different ways.
The profit of online platforms is determined by the sales volumes of online stores to which cashback services contain referral links. That is, this scheme looks like this: client - provider - intermediary - client.
This means that cashback helps both users and online stores. It returns part of the money spent to buyers, and it comes in handy for its sales partners by attracting new customers for them.
Advantages of using cashback services
There are several advantages of such a common financial instrument in modern online commerce:
- ease of use – all options become available and require a minimum of time after downloading the application;
- efficiency of the result – accruals through the program are made quickly;
- This service is free for users – stores and service companies pay for it;
- it applies to all goods/services of the service's partner establishments;
- There are no restrictions on using the cashback service, and there is no need for complicated tracking of promotions or discounts;
- Its functionality is transparent and honest, and the amount of cashback is indicated by the service.
But the key advantage of cashback is guaranteed savings for the user.
How the cashback service works: step-by-step instructions
The algorithm for the operation of such an online service, which cooperates with retail and other service establishments, is as follows:
- The user selects a cashback service website and completes the registration procedure there.
- Goes to the institution's portal via the link and purchases the necessary product/service.
- The store transmits purchase data.
- Cashback information is displayed in the customer's profile.
- The store pays the buyer % of the cashback service reward.
- The customer receives cashback for the purchase he made.
To register on the platforms of the respective service, they use their social media pages or email addresses, and enter the online store through the cashback service catalog. The purchase is made using a standard algorithm.
Overview of the most popular cashback services in Ukraine
Our compatriots have access to about two dozen such platforms, but not every one of them is in the TOP.
Descriptions of several of the highest-rated cashback services are provided below.
LetyShops
The date of foundation of the corresponding world-class cashback service was 2014. According to sources, the partners of this online platform are more than 1,800 stores with cashback.
These retail giants include the famous Chinese online market AliExpress and well-known electronics and other goods supermarkets - Eldorado, Rozetka, lamoda, and Comfy.
These establishments specialize in selling merchandise and services of almost all categories.
To receive cashback bonuses, you can use the LetyShops website, mobile application, or browser extension.
This platform provides not only regular cashback, but also bonuses for referring friends.
And the terms of its loyalty program provide for an increase in the percentage of funds returned to the user.
Thanks to the close and fruitful cooperation of such an international service with a significant number of large-scale trading corporations, LetyShops provides customers with large amounts of cashback, which can sometimes exceed 20%. However, most often the corresponding amount is from 1% to 10% of the amount spent.
The funds received from purchases can be deposited into bank cards and mobile accounts. The withdrawal amount range is from 250 UAH to 700 UAH.
As a result of registering on the site, each new client receives Premium status, which is valid for one week. This “title” allows its owner to receive a cashback rate increased by 30% compared to the standard rate for 7 days. It is an excellent incentive for active purchases.
If the user pre-downloads the browser extension (versions available are Google Chrome, Safari, Firefox, Opera, and Yandex.Browser), he gets the opportunity to activate the accrual of cash back bonuses not through the service website, but when directly logging into the online seller's website.
The LetyShops cashback service offers users an integrated function to track price changes for necessary goods in Chinese online markets over the past few months to assess the honesty of their discounts.
And to earn additional income, the site offers a referral program. There are two relevant ways to do this.
The first is the possibility of receiving cashback for purchases made by other people. To do this, the user creates a special referral link to the product. This method of earning is practiced by bloggers who make advertising reviews of specific products, reporting that the corresponding item can be purchased "via the link below."
The second method involves a reward for inviting your friends to the service. For this purpose, they copy and send them a referral link. For each purchase made by a user who registers using this link, its author is paid 15% from cashback, or 50 UAH.
If you register via the link https://letyshops.com/ua/winwin?ww=37851160 – you will receive 50 UAH on your balance.
There are two methods for withdrawing cashback amounts from this portal – they can be withdrawn to a bank card or topped up to a mobile phone account. The application processing time is from 1 to 3 days. There is also the option of transferring bonus funds to charity.
Payback Service
Founded in 2016, the Ukrainian cashback service company cooperates with over a hundred world-class domestic and foreign companies.
Examples of these are EVA, MOYO, Banggood, ZooMaster, and AliExpress stores.
In comparison with the percentage of returned funds, Payback loses quite a bit to LetyShops.
But the obvious advantage of Payback.ua is the offer of a loyalty program, which allows you to increase cashback within the accumulation system. This means that the corresponding bonuses grow as the total amount of transactions increases.
This loyalty program provides four levels - "Starter", "High", "Pro" and "Partner".
The minimum rate increase of 10% is available to "Starter" level clients who have accumulated more than 500 hryvnias.
The maximum value of this amount, corresponding to the "Partner" level (with savings of 10 thousand UAH), the return increases the standard rate for 40%.
This form offers users the opportunity to tell their friends about it and help them register and make their first purchase. For such actions, the referrer is offered a 10% cashback on each purchase made by a new customer.
And for a one-time increase in cashback payments, you can use promotional codes received in newsletters published on the service's social networks.
To join the ranks of Payback users, you should register on its official website, and from there go directly to the online shopping platform. You can also use the company's extensions for Chrome, Firefox, Opera and Yandex browsers.
You can withdraw cashback funds to bank cards, mobile phone numbers, and Webmoney. The lower withdrawal limit on Payback.ua is not uninvited.
Interestingly, the relevant platform charges cashback in the store's currency - USD, EUR or UAH. Foreign currency, at the request of the Ukrainian client, can be converted into hryvnia according to its official exchange rate on the current date.
Register with PayBack service
Monet cashback servicea
A peer of Paybek, which currently boasts partnerships with over two hundred online markets in Ukraine and the world.
These include global marketplaces iHerb, ATB, EVA, Telemart, AliExpress, and Gearbest.
The cashback amounts from Moneta.ua., relative to its competitors, are average and depend on the specific store. For example, AliExpress buyers get back up to 5% of the purchase amount, INTERTOR – up to 4.05%, and DORMEO – 13.86%.
Referral program participants who attracted these customers can expect to receive additional bonuses from new customers' orders.
The guarantee of receiving bonus deductions is making purchases using website "Moneta"The algorithm for accruing cashback is classic.
The user registers on the appropriate platform, selects the desired store in its catalog, follows the link to it, and places an order for the desired product.
Using a browser extension will help simplify the process.
This online platform recommends that its users disable browser extensions for correct cashback accruals, add products to the cart only after switching from "Coins. Yuey", place one order per browser session and place it only through the cart of the selected online market. In this case, before making a purchase, all additional tabs and browser windows should be closed and the browser cache should be cleared.
Buyers should not use the "Incognito" mode - in this case, the store will not be able to pay commissions.
According to users, the disadvantage of Moneta.ua is the lack of special programs, and its significant advantage is the general conditions.
Cashback funds can be withdrawn to bank cards and smartphone accounts. The minimum amount available for withdrawal for PrivatBank customers and for replenishing a phone account is 20 hryvnias. Individuals with accounts in other banks are able to withdraw money if they have accumulated cashback of 100 hryvnias or more.
Register on the Moneta website
Smarty.sale
This year, the relevant international cashback service, which is among the top five, celebrates its tenth anniversary.
Smarty.sale partners include more than 2,200 online stores in Ukraine and around the world.
This platform offers a percentage return on purchases made on the websites of AliExpress, iHerb, Stylus eBay, EVA, and many other well-known sellers.
Since the amounts of such bonus deductions are mostly from 3 to 5%, they can be considered moderate. For example, compared to cashback from Letishops, they are significantly lower.
But ways to increase cashback from Smarty.sale are provided for by its terms - using the referral program to attract friends and using promotional codes.
Saving money on purchases with this popular cashback service will help you use its website, browser plugins, and mobile apps available for Android and iOS phones.
To top up your smartphone or iPhone account, you can withdraw an amount from UAH 7. PrivatBank clients can transfer an amount from UAH 10 to their cards. The minimum limit for the corresponding transaction for other banking institutions is UAH 200.
The positive aspects of buyers' cooperation with Smarty.sale are the ability to use this service 24/7, and the convenience of methods for withdrawing funds without commissions (they can also be transferred by mail and to an electronic wallet).
To attract new customers, this cashback portal, simple registration on which takes less than 1 minute, practices holding regular promotions and introducing additional discounts.
Grivasi
The youngest of the top cashback services, it first offered its services in 2017. Compared to its competitors, the list of partners of Grivasi is small. It has only a couple of dozen stores.
But the highlight of this platform is its high cashback percentages – up to 20%. In this, it surpasses many of its competitors.
For example, while most cashback platforms offer AliExpress buyers maximum bonuses of up to 5%, the Grivasi portal has raised this amount to 6%.
The algorithm and conditions for receiving cashback from purchases using this platform are classic. You can activate cashback on its website, having previously completed the registration procedure. After that, the user finds the desired store in the portal catalog and makes the desired online purchase there.
This cashback service does not have applications for mobile gadgets. The bonuses accumulated with its help can be withdrawn to bank cards, mobile accounts or electronic wallets such as Webmoney.
These bonus funds can be withdrawn not only in the national Ukrainian currency, but also in $ and €. The minimum withdrawal limit is 5 hryvnias or 15 cents.
Among the advantages of Grivasi, its users include a clear and convenient interface, real help from technical support specialists, and stable payment efficiency. The main condition for the functionality of this website is compliance with its rules.
How to choose the best cashback service?
When choosing such a service platform, many factors should be considered, each of which is important.
- Cashback payout interest rate. Currently, the highest rates are offered by Grivasi and Moneta.
- Reliability. Smarty has earned the greatest trust from customers, based on their number exceeding 1 million.
- Minimum withdrawal thresholds. In this regard, the leadership also belongs to Grivas and Moneta.
- Multicurrency. This refers to the ability to accumulate cash back funds in various currencies. This aspect of the service helps not to lose money during their conversion. It is important when shopping in foreign stores.
- Availability of a browser extension. If such a program can be installed, the purchase process itself becomes more comfortable and convenient. Then, from the browser, they simply go to the store's website, as a result of which a window pops up with information about cashback.
- Withdrawal methods and fees for this option. Some cashback services charge fees for withdrawing bonus amounts.
- Promo codes and promotional offers. Holding profitable promotions, as well as providing promotional codes, speaks in favor of the reputation of the cashback portal. Most often, promotions are held by Payback and LetyShops.
- Mobile application. If you have such an application for a smartphone or iPhone, making purchases with cashback from the corresponding gadget is much more convenient than through a mobile browser.
- Availability of a loyalty program. In practice, this means that the amount of bonuses for purchases increases for the user gradually, as the amount of cashback itself increases.
- The informativeness of the interface and the intuitiveness of using the site. Unfortunately, not every such platform publishes a comprehensive list of rules. As a result, some users make mistakes during purchases, due to which they do not receive cashback.
It is worth giving preference to sites that explain the navigation algorithm in a clear and understandable way and have a well-thought-out structure.
What to look out for: tips for beginners
Preference should be given to cashback services that are profitable and convenient for the buyer.
It is recommended to consider platforms with decent interest rates and prompt withdrawal of funds accrued for purchases.
The advantage of such service sites is the small limit on the amount for withdrawal. After all, it is impossible to withdraw money until these funds accumulate.
Therefore, before choosing a cashback platform, you should take into account all its conditions, analyze the current programs, the size of the bonuses, and the comfort of using this platform.
It also doesn't hurt to read user reviews about a particular cashback service - their assessment is most often objective.
Before registering and while using such platforms, you need to take into account several points:
- availability of personal offers for users – you should track special promotions and discounts that are available to you;
- the specifics of using bonus payments - for example, the terms of some loyalty programs provide for their profitable exchange for gift cards;
- a list of partner stores – it should include trade and service companies that are relevant for a particular buyer;
- The opportunity to participate in prize draws is not something you should miss.
The terms of cooperation between cashback services and customers can change, so they should be carefully reviewed periodically. This approach helps you not to miss out on profitable offers and stay informed about changes in the operation of cashback sites.
Therefore, choosing these platforms that offer innovative methods of saving money should be done without haste, wisely and thoughtfully. Three factors should be prioritized - their effectiveness, reputation and simplicity.
