Bank Plastic card ("plastic") is subject, without which today few people can do. Now she is in the pocket of almost everyone – from the teenager and ending with the pensioner. And it is not strange, since the card is a versatile and convenient means of payment. And if to consider various additional options that issuers give to their own maps, those, in turn, are not only convenient, but also profitable for their owners. The 1st of these options is a function such as cash back (Cashback).
What is cash back?
Literally, the word "Cashback" from English. translates as “refund”. This term occurs in online trading, and banking services. Now, in a Global Web there are specialized portals that provide users access to online stores that operate as cash back. In applying to banking institutions, cash back – this is nothing else than the additional function "plastic": the buying and paying with their card, the person receives a portion of the amount spent back at their own expense. And Bank and online the essence cashback 1 and the same – return to the account of the client specific % of the value of his purchase.
How does the Cashback?
In many ways, the work of the cash back program is similar to co-branded cards, which the owner pays for the service or purchase in the companies-partners of the Bank, and the result is for her a bonus – % from the spent money (often it is: 0,3 - 5%). Cashback will be larger, the higher your card status is. Rewards often accrue happens in a single payment at the end of the month. This raises a logical question: "by whom the payment data?". After all, banks can't give away their clients money, they need to make a profit. In this case, as a source cashback is the Commission received by the Bank which issued the card, from the acquiring Bank (the organization that organizes the terminals to accept payments with plastic cards and holds absolutely all financial transactions that are performed in these terminals, directly in the calculation of Bank cards).
Translated by "Yandex.Translate": translate.yandex.ru.