Yahoo Finance The app that will save you $1,050 each year
If I told you there’s an app out there that will pay you every time you shop, you probably wouldn’t believe me.
“What’s the catch?” you’d say.
And I’m glad you asked, because it’s the exact same question Yahoo Finance asked ShopBack when we spoke to them to learn about the platform.
ShopBack is an app that gives you cash back when you shop online through the app. You accumulate the cash in your ShopBack account, and you can withdraw it at any point back into your bank account or via PayPal.
And while the concept might sound foreign to many Aussies, it’s quite common in the US and Singapore, which is where ShopBack originated.
“So how do they make money?” you ask.
Again, it’s the same question Yahoo Finance asked ShopBack.
ShopBack’s shopping partners, which include Apple, The Iconic, Deliveroo, Uber Eats, eBay and around 900 others, pay the platform a commission every time a successful order is placed through the app. That commission is shared with the customer as cashback - and it’s free to join.
Typically, the cashback takes around 48 hours to be processed and credited into your ShopBack account.
Receiving cashback on an order with fashion retailers can often take as long as the retailer’s returns policy, so ShopBack can ensure customers aren’t abusing the system.
“Customers can save at least $1050 a year, just from doing their everyday shopping with ShopBack,” ShopBack’s country manager Angus Muffet told Yahoo Finance.
“We recently ran a flash sale with eBay where you could get 10 per cent cashback, customers were also able to use a 20 per cent eBay discount code, and there happened to be onsite sales - customers were able to pick up a Dyson Animal V7 for $359.28 from an RRP of $699,” he said.
“Those are the sorts of savings customers can make using our platform.”
Another customer wrote to Muffet to say she saved $260 on a trip to Hawaii she booked through Booking.com.
“It meant she could stay an extra night,” Muffet said.
Make your money work with Yahoo Finance’s daily newsletter. Sign up here and stay on top of the latest money, news and tech news.
