Revolut has launched a new feature in its US app that provides instant money back.
The new feature is called Stores. In this case, the expansion of functionality took place as a result of the appearance of an instant cashback mechanism in the amount of up to 3% for brands and retailers that are listed in the application. The relevant information is contained in a press release that was published by the company.
Revolut’s general manager of lifestyle products, Christopher Guttridge, says that the firm is proud of the opportunity to offer its customers instant cashback, unlike other financial service providers who implement a refund process of up to three months. He also noted that against the background of the rising cost of living, the company strives to introduce innovative solutions that can meet the daily financial needs and aspirations of customers. According to him, in the development of new proposals, special attention is paid to ensuring a high level of financial control.
With Revolut Shops, users can search and view products and services. The company’s customers will receive instant cashback only if they purchase products from sellers who meet certain requirements, about which there is no information. Also, for a refund, users must pay for purchases with their Revolut card.
In the company’s application, consumers can get acquainted in detail with the conditions for receiving cashback.
Such financial solutions are an effective way to expand the customer base and ensure a high level of customer loyalty. For example, in the USA, industry studies have shown that restaurants that have programs of offers and various events for customers are highly likely will form strong commercial relationships with consumers. This statement is confirmed by the fact that in the United States, according to the results of a survey, 54% of Generation Z representatives said that when searching for information about public catering establishments, they pay priority attention to special restaurant offers.
As we have reported earlier, Revolut to Begin Offering Loans in France.