CashItBack, a part of Loyalty Commerce Pvt Ltd, a portal that connects e-commerce players and consumers, and provides special cash backs and incentives for every transaction, has rebranded itself as Saverr. The company was a Techcircle Fastrack 2012 winner.
Speaking exclusively to Techcircle.in, Ankush Johar, Director of Saverr said, "The name Saverr is more representative of our business model today. Earlier our focus was cash back alone, but now we want our consumers who are buying through e-commerce portals to save money on every purchase by cash backs or though coupon codes as well."
Saverr, which partners with 75 e-com players including Flipkart, MakeMyTrip, Yatra , Pepperpry and Homeshop18, allows customers to register themselves free of cost.
Customers who make purchases via these partnered e-tailers would end up getting cash back ranging from 6-80 per cent, depending upon the buying price of the product.
The cash back will be accumulated in the users cash back account, for which the consumer can request for a hard cash return via cheque, which takes a minimum of 15 days. The minimum threshold amount is Rs 500. The accumulated money can also be redeemed for Mobile and DTH recharges.
As part of the branding exercise, the site has also introduced 'coupons', in which about 50 players are participating. By using the coupon code, customers can make transactions cheaper by a minimum of Rs 300. Customers would also be able to avail the cash back offer along with this.
Johar said, "We generate revenue when we deliver transactions to our merchant partners. There are some advertising revenues as well but we've not tapped those yet."
(Edited by Prem Udayabhanu)