What cashback programs are there on the market?

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Since the launch of joint programs in 2022, Tinkoff partner brands have been able to significantly improve their results. For example, after connecting, the manufacturer of household water filters Barrier was able to double the average bill in two quarters. And at Synergetic, the number of purchased goods increased by almost 20% in 10 months of the club's operation.

— Tinkoff Vygoda loyalty clubs allow both targeting a narrow audience and working with all bank users, — says Mikhail Rzhanitsyn, head of e-commerce projects at Synergetic.

The Tinkoff program is a logical ivory coast whatsapp number database continuation of increased cashback by category, noted the founder of Anderida Financial Group Alexey Tarapovsky. On average, a client buys goods in 5-10 stores on a regular basis. Therefore, if the consumer has a choice and can receive profitable bonuses due to his commitment to the brand, then there will be demand for the program, the expert believes.

Loyalty clubs for purchases of goods of certain brands work due to savings on bank commissions, explained Timur Sadykov, head of the laboratory of artificial intelligence, neurotechnology and business analytics at the Plekhanov Russian University of Economics. This becomes possible because companies and buyers are clients of the same financial organization.

When selling goods at reasonable prices, participation in such clubs is beneficial for both customers and brands, the expert noted. However, such programs also have an advertising component, as well as a struggle between companies for the redistribution of the market.

Most market participants have loyalty programs, for example, "Multibonus" from VTB or PSBonus from PSB. Banks are actively developing these offers both independently and through partnerships.

For example, SberSpasibo participants can receive up to 30% cashback bonuses for purchases at more than 75 thousand retail outlets, and then exchange them for discounts of up to 99% when paying for goods from partners, the press service noted.

Sovcombank credits clients with cashback of up to 10% for Halva cards, depending on the purchase amount, but only when paying with their own funds, said Anna Kambulova, managing director of the financial organization.

Gazprombank offers four loyalty programs that the client can change once a month. For example, one of them gives an increased reward of 5% in six popular categories (clothing, footwear, gas stations, etc.), as well as 1% on other purchases, the press service reported.

"Pochta Bank" also breaks down the cashback level by product category. Customers can receive a maximum reward of 10% when paying in supermarkets and at the post office. And when purchasing from program partners, consumers should receive up to 30%, the press service added. Now more and more consumers are studying the terms of rewards more carefully and consciously approaching the choice of a card for purchases, noted the head of the department for the development of transactional products of the credit institution Timur Bedredinov.

Bank Saint Petersburg accrues bonuses of up to 3% for any purchases and up to 50% when paying for goods and services from partners to program participants, the press service reported.

Such offers are used by up to 80% of Russians who actively use non-cash payments, estimated Alexey Tarapovsky from Anderida Financial Group. Most prefer to return funds in cash, but this instrument is becoming less common.

Affiliate programs with increased remuneration are a common practice, added Valery Piven, Managing Director and Head of the ACRA Financial Institutions Ratings Group. According to him, the main effect here is advertising, since cashback can often be included in the cost of the product. Then, in fact, it becomes an alternative to a discount.

In the context of a sudden increase in the key rate and tightening of lending conditions, the launch of numerous new loyalty programs is one of the hidden forms of the fight for liquidity, says Timur Sadykov from the Plekhanov Russian University of Economics.