Discounts, cashback, and promo codes are some of the shopping delights that shoppers acquire through shopping. Shoppers wait on these opportunities to acquire a certain cut-off in the final payment or a certain payback from the purchase amount they have paid. The need has resulted in the solo Cashback & Rewards App Development.
As eCommerce started booming in the late 2000s, these offers became more common. Today, these discounts and offers have become crucial in business marketing. As a result, most consumers have responded well to these schemes.
Cashback & Rewards App Development is a well-discussed topic in today’s time and almost the need of the hour. These apps are designed with an algorithm that finds the best discounts and offers online. There are different processes used in different apps.
Workflow Of A Cashback & Rewards App
Some apps may directly offer discounts or cashback, while others work under a point system. In the second type of application, the user will have to collect points from different sources. Once the limit is breached, they can exchange it for cash or a similar rewarding option allowed by the application. Let us clear all confusion by studying the workflow of a Cashback & Rewards App.
- First, the user has to find them on the app store and download the application. After that, the app might get automatically installed on your mobile device. Mostly, these apps are available free of cost in the play store.
- After installation, the user will be required to set up the app. The Cashback & Rewards App Development ensures that the user gets directly sent to the set-up page as soon as the app gets installed and opened.
- This set-up process includes creating an account, connecting social media handles, and adding personal information and other relevant matters.
- This is not an eCommerce platform; hence, there is less prioritisation on shopping from brands; instead, discounts are the main thing. Users on such applications start searching for products based on the deals offered, and the search algorithm also shows results on a similar metric.
- Some cashback applications will ask users to link their debit or credit cards to the platform. This way, whenever the user uses the card to pay for a branded item with a cashback offer, they get the discussed percentage sent back to their account.
- In another case, the user is required to take a picture of the product receipt after purchase. On uploading the picture to the app, the app matches the receipt with the brand offers and gives back whatever is promised to the user.
- Cashback & Rewards App Development spans a broad spectrum. This is the reason other applications may not directly provide cashback. Instead, they are keener on giving out points. The user redeems these points to acquire the rewards promised during the purchase. The points are often based on the item purchased or the amount spent on the purchase.
Often, these applications allow users to use promo codes during the sign-in process to acquire rewards as soon as you sign-up. Then, the rewards or cash backs are directly transferred to the user account or saved as points.
Revenue Streams To Include During Cashback & Rewards App Development
It is pretty generous for a Cashback & Rewards App to allow many user offers. But how do they benefit from it? During the Cashback & Rewards App Development, it is essential to add a revenue stream that allows the app to make some money of its own.
- These cashback apps can earn revenue in a few ways. The most prominent one is to charge a hosting fee. The hosting fee is charged to brands only when the app has the potential for sales conversion.
- The user will be charged a transaction fee if the purchases are made using the app. This fee can be added to every transaction.
- Advertisements are another way to earn direct revenue. The app can allow third-party applications and brands to post relevant ads on the cashback app. Then, they can charge based on ad space or time.
- The app can also earn commission from the sales occurring on the platform.
Conclusion
When you are working on Cashback & Rewards App Development, there are a lot of things that you need to keep in mind. In this article, we have talked about a few aspects, and there are more that you need to research.