Cashbac Presented as a Lifestyle Platform that Provides "Instant Rewards"

The experience of building Uangku and Dimo, which is still being managed today, has become a valuable lesson for PT Global Pay Indonesia to build a new platform called Cashbac. On the consumer side, Cashbac provides instant rewards for various lifestyle transactions. On the merchant side, Cashbac offers dashboards that can help them understand and manage their customers.

Founded in early 2018 and only officially introduced today, (18/4), Cashbac, which was also supported by SMDV at the beginning, has embraced at least 200 merchants offline in the Jabodetabek area, 90% of which are engaged in the food & beverage. The rest are health and beauty clinics.

At the beginning of its launch, Cashbac collaborated with UOB Bank as a credit card service provider by providing attractive offers.

"Cashback present to be a lifestyle revolution for urban communities. We believe that nowadays people are getting smarter in consuming a lifestyle that is also able to provide multiple benefits for them. Cashbac answers this by providing unlimited rewards for users, said Cashbac Co-Founder and CEO Mario Gaw.

power user

Cashback is targeting the market socialeconomy A and B which have spending power but so far it seems "marginalized" because most digital services focus on getting as many users as possible.

The consumer segment is those who already have a credit card (although debit cards that can be used for online transactions, such as Jenius, Digibank, and Permata Cards can also be used). It is assumed that in Indonesia there are only about 10 million unique credit card owners and 70% of them are domiciled in Greater Jakarta. Although the numbers seem "small", they are consumers who are able to transact with large amounts.

Mario confirmed adding payment methods will not be a priority at this time. Given that Cashbac's business model is performance based fees, it's only natural that they focus their efforts on transactions like this.

On the consumer side, the actual concept of using Cashbac is no different from transacting using a regular credit card. The difference is, we transact via the application and will receive cashback (which varies in number) immediately after the transaction.

Transactions through the application can be done by tap to the machine beacon Cashbac or using the Pay by QR scheme which is the development of Dimo ​​technology.

Cashback using payment gateway third parties for transaction processing and claiming not to store consumer credit card data. Credit card data security is carried out automatically back end with the provider payment gateway and in the application using a six-digit PIN. Cashback can delete (Wipe) user data (including credit card information) in case of PIN errors so many times that it is assumed that the device is in the wrong hands.

Ammo for merchant

In fact, Cashbac's greatest strength lies in its partnerships with merchants. Cashback arm merchants with dashboards analytics and beacon tools that can help merchants understand consumer behavior and needs, leading to better personalization.

Beacon provided canBroadcast information about products provided by merchants to users via bluetooth or notifications at the operating system level (specifically the latter is only available for Android smartphones). It is hoped that this marketing technique will be more effective and personalized with options Opt-in and opt-out provided.

Goals for this year

The company targets to partner with 2000 merchants by the end of the year and expand partnerships with partners in the sector groceries, fashion and travel.

"We are very optimistic about the target of increasing the number of merchants this year and will add cooperation with other payment methods so that Cashbac can be enjoyed by all urbanites, not only in Jakarta but also in Indonesia. We believe that urbanites will associate Lifestyle Jaman Now with Cashbac in the future," said Mario.