BonusBay.in Heats Up The Cashback Industry for Ecommerce Purchases in India!
Indian ecommerce market is about to breach Rs 1 lakh crore market size by the end of this year; and as per various estimations, affiliates and cash back portals constitute 10-15% of the overall revenues for the ecommerce companies. Even with the minimum projections, cash back industry is worth Rs 8-10,000 crore as of now.
Last year, global cash back portal BonusBay launched their Indian operations via BonusBay.in; and they have already steamed up this rapidly growing market. After establishing themselves as a major force to reckon with in countries such as Singapore, Malaysia, Russia, Finland, United States, Sweden and Turkey, BonusBay India is all set to delight their customers with some heavy bonuses and cash back offers.
Already they have made agreements with the top players: Flipkart, Amazon, Snapdeal, Jabong, Infibeam and Booking.com. Their 24,000 fans on Facebook with a vibrant, engaging atmosphere clearly showcases that their offers and services are being liked by the shoppers.
More on Cash Back
Cash Back is a new business model in the ecommerce industry, wherein both the product seller and buyer are benefited by using a common platform to make purchases. BonusBay and other cash back portals constitute this platform.
Assume you are going to purchase a new pair of shoes from Amazon; you can directly visit their website and make the purchase along with the discounts and offers which are currently offered there.
Another option is to visit a cash portal like BonusBay.in, and then visit Amazon via their platform to make the purchase. Not only you will receive all the benefits of purchasing the product (discounts offered by Amazon); you will also receive a portion of the paid money back, in the form of cash back. This percentage depends on the purchase, and usually ranges from 1% to 10% of the total transaction value.
How Will Be The Cash Reimbursed?
Unlike other cash back services which converts your reimbursed cash into points and then ask you to shop again from their website, BonusBay gives you hard cash in return, directly to your bank account.
As of now, there exists a threshold of Rs 1000 for the bank transfer – as soon as the accumulated cash backs crosses Rs 1000, you can claim that back.
From Where Does The Money Come From?
Acquiring a new customer is one of the biggest problems which ecommerce portals face on a daily basis. Spending on paid marketing will cost them a fortune, besides consuming much of their resources and bandwidth.
In order to simplify the process of acquisition, ecommerce players are more than happy to tie up with such cash back companies, and ensure steady inflow of customers in lieu of the cash back which they are offering to the end user.
In their Business FAQ section, they have explained the reasoning in an effective way and answers the question: Why should ecommerce firms join their platform?
Although there are several such cash back portals active in India right now, BonusBay stands out in the following departments:
- Clean, neat design and user interface. The sign-up process is simple, and fast.
- Categorization of services is clearly visible, even in the first visit. With only two options to select: Brands or Portals, the decision time taken by a user is less, and he finds himself engrossed with product selection in no time.
- Facility to directly reclaim the cash backs into your bank account (after crossing Rs 1000) is a welcome relief from those cash back portals which convert them into ‘points.’
- Referral option: You get Rs 250 for every referred friend into their platform
- Instant Rs 100 as you sign up
- Chrome Extension: You can install their chrome extension, which will make it even simpler to select them while making a purchase
Not only they have included the biggest 5 ecommerce vendors in India, BonusBay has made sure that all the major brands are included in their platform. As of now you can find more than 40 top shot brands from technology, clothing and lifestyle on BonusBay.
Do let us know how did you find BonusBay while shopping online..? We would welcome your feedback and suggestions as well.
[Note: This is a sponsored post. However, the review of the product/service has been done in a neutral manner.]