You may have read one of our recent articles on EcoCash Rewards – the new rewards program which promises that every time you use EcoCash with a merchant participating in this program you’ll earn points that you can use to get cash back in your EcoCash wallet.
Though this new program is quite brilliant, the technical guys at EcoCash are not the heads behind this system. EcoCash partnered with CashBack who have had a rewards-based program on their cashbackAPP in a number of African countries for a long time now.
How does this thing work?
Well, in cashbackAPP’s own words;
cashbackAPP, the platform which enables merchants to plug in and offer rewards to their customers, make offers to consumers they do not know and obtain full analytics to assist their marketing campaigns. For the consumer, they join once, register their normal credit or debit card and earn a single currency of reward (cash-back) at every merchant on the platform.
For consumers what this means is that after accumulating points every time you make a purchase, you’ll reach a threshold that will allow you to actually get a certain cash sum back. And these points are not like playing the lotto. Every time you buy at a merchant registered with cashbackAPP you get points and these accumulate allowing you to later get a cashback sum.
Some of you reading this may know that in Zimbabwe, Shingi Munyeza is the Chairperson of cashbackAPP Zimbabwe. We have reached out to the entrepreneur to fully understand his role and how the cashbackAPP actually functions in the Zim context. Whilst waiting for a response from him we did some digging around of our own and discovered that cashbackAPP is owned and held safely in trust by the UK company, Enigmatic Smile Limited. These guys license “the CashbackAPP brand, technology, know-how and methodology to motivated entrepreneurs and organisations in a growing number of countries”, whilst maintaining ownership in whichever country they pop up.
In order to ensure that the brand functions as they envision each entrepreneur, regardless of their country of operation. Each country does, however, maintain their own territory, relationships and merchant network along with its balance sheet
If this existed before why partner with EcoCash?
Right now you can actually download the cashbackApp and upload your Visa or Mastercard enabled bank card and start benefiting from a number of merchants and getting your cash back but the only problem with that is that some businesses don’t offer USD prices which means that if you were to use your card with forex you probably won’t end up making any savings at all. This is what makes the EcoCash partnership so enticing. You can purchase and get your cash back from merchants whilst using our very own RTGS$, which means this is a cheaper option than using the Visa and Mastercard cards.
EcoCash is a mobile money transfer facility which is run by Econet Wireless Zimbabwe. The facility has grown in leaps and bounds since its inception and is arguably the largest mobile money transfer agent considering the huge sums of transactions that the platform is said... Read More About EcoCash
Shingi Albert Munyeza is a Zimbabwean businessman who in 2008 became the Chief Executive Office of African Sun Limited (ASL) a hospitality company in sub-Saharan Africa and Africa in general. Munyeza is also a devout Christian and a senior pastor at Faith Ministries in Harare.... Read More About Shingi Munyeza