Yes Bank, India’s fourth largest private sector bank, today announced a partnership with one of the largest cashback and coupons sites, CashKaro.com, to launch India’s first Card Linked Offers (CLO) cashback proposition. An innovative customer loyalty platform that provides online and offline shoppers with personalized merchant deals on which shoppers can avail cashback offers, Yes Bank along with CashKaro will launch the Card Linked Offers pan India starting today. The offers are currently available on all Yes Bank debit cards, and will be extended to all other payment products of Yes Bank in the near future which can be used for transacting with merchants.
The transformative technology of CLO program will now enable Yes Bank debit card holders to earn customized cashback offers from a wide range of participating online merchants as well as brick and mortar stores including Forever 21, TataCliq, Chaayos, Junkyard Café, UrbanClap, Zivame, Nearbuy, Limeroad, Netmeds, BigBasket, Fortis Healthworld, The Beer Café and FreshMenu amongst others.
Cardholders simply need to use their debit card to pay at these offline stores/websites. Within a few seconds of transacting, customers will receive a message stating their eligibility for cashback and will subsequently receive up to 25 percent cashback basis the store and type of product purchased by them.
This is a fully automated program removing the need for additional coupon codes and merchant integrations, thereby offering the users a hassle-free experience with offers being personalized to their unique needs. The credit of the cashback to Yes Bank savings account and Yes Pay Wallet is also completely automated right from tracking to settlement.
Ritesh Pai, chief digital officer at Yes Bank said, “We believe Card Linked Offers (CLOs) will play a vital role in enabling and enhancing the personalized rewards experience to our valuable customers which mirrors their shopping preferences and criteria like location, brands and timing. Given CashKaro’s vast experience in the digital advertising and customer marketing field, we have found the perfect partner to help us enrich our customers’ cashless shopping experience with customized rewards”.
Rohan Bhargava, cofounder, CashKaro.com said, “We are thrilled to have this opportunity to change the savings experience of millions, especially as CLOs will enable customers to save on both online and offline purchases. Card Linked Offers also mark CashKaro’s entry into the offline space and brings us closer to our vision of being the ultimate savings destination in India.”
CashKaro.com is India’s largest cashback and coupons site and is essentially the one-stop-destination for all online savings. CashKaro has raised close to 5 million dollars to date, of which 3.8 million dollars was raised in Series A funding from Kalaari Capital. Mr Ratan Tata has also invested in the company in his personal capacity.