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YES Bank and Cashkaro launch personalised cashbacks; How it works

YES Bank and cashback and coupon site Cashkaro have launched a customer loyalty programme with card-linked offers, which will allow merchants to create personalized and targeted deals for cashbacks. The promotions are sent via SMS, e-mail mobile app notifications and a separate web page. At present, this personalised cash-back service is available on YES Bank debit cards, on transactions made both online and offline, but will be extended to other payment products. While cashback deals are common, what's important to note here is that YES Bank cardholders will receive offers on the basis of their shopping patterns. Currently, merchants such as Forever 21, TataCliq, Chaayos, Junkyard Café, UrbanClap, Zivame, Nearbuy, Limeroad, Netmeds, BigBasket, 1Mg and Croma have signed on board. Rohan Bhargava, co-founder of Cashkaro, said that they will be bringing about 100 merchants in the next 3-6 months and will include large format retail groups as well. Ritesh Pai, senior president for digital banking at YES Bank, told MediaNama that the bank is also looking at the partnership as a means to activate dormant cards, or cards which are primarily being used for withdrawing from ATMs. "We want to make sure that these cards are being used for digital transactions at POS machines," he added. The cashback will be credited within seconds (unlike in the case of most banks), to the savings account or the YES PAY wallet. How the profiling and targeting works - Profiling and parameters: YES Bank builds the profile of a customer for marketing. "Other banks usually…

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