FAQ Business

  1. How does our system work?

The users of our application - your potential customers - can check our partners’ cashback offers in the app. Recash can detect your potential customers’ purchases at the stores of your competitors, and it can target them with your competitive offers. Additionally, its AI system continuously analyses their consumer habits.

  1. How can Recash attract your competitors’ customers?

In the background, AI comprehensively analyzes all banking transactions of our users, detects spendings at your competitors and helps to draw their attention to your stores by publishing your competitive offers.

  1. What’s cashback?

Users get cashback in case of a regular payment with any bankcard. Our users pay the total price in your store with their bankcards and get their cashback in the application. Our partners make these repayments in order to attract new customers and keep rewarding them for their loyalty. The only cost our partners have is this cashback. Recash gets 20% of the cashback as a fee, so users will see the offer deducted by this fee in the app.

  1. What can you do to become a Recash partner?

The effort is minimal: registration, uploading store data and setting the cashback. If you need help you can use chat support on this site or email us at support@recash.app and we’ll contact you promptly.

  1. What’s Partner Portal?

Recash partners can use the following functionalities of the system through this very simple and user-friendly interface: filling out data, setting cashback percentage, retrieving different statistics, etc. Setting the percentage of cashback can be very precise: different cashback can be set daily or even hourly.

  1. How does settlement work?

The system credits cashback on the user’s Recash account within 24 hours of detecting the transaction. Invoicing towards the Partners occurs in predetermined periods (weekly, monthly). Along with the invoice, Partners get a detailed list of transactions made by the users at the partners’ stores. Using the Partner Portal, partners can compare this list to their POS terminal list with a simple click - no extra effort needed.

  1. What’s the technical and legal background of Recash?

Recash is an Account Information Service Provider (AISP) authorised by the Financial Conduct Authority and financial institution under the Second Payment Services Directive (PSD2) of the European Union, regulated by the National Banks and the financial authorities. After getting the consent from each user, it retrieves their banking data directly from the banks through Application Programming Interfaces.
Recash doesn’t get any sensitive data of its users, not even their names. It has to meet the strictest data protection standards supervised by the National Banks and financial authorities.

FCA
https://www.fca.org.uk