Cashback as we very well know are benefits offered by companies- mostly credit and debit card companies where customers get rewarded with some percentage of the purchase price of an item for which payment was made using their card. Most times, the percentage given as cashbacks on purchases vary depending on the product purchased. For example, a company could offer 5% cashback on gas purchase, 2% cashback on grocery purchases and 1% cashback on every other purchase. This is an old trick in the hat to keep old customers and to attract new customers which has proven to be effective to a large extent.
Payment Systems however serve as a sort of escrow used for facilitating financial transactions between one or more parties involved in a transaction. These payment systems make use of certain standards of procedures, technologies and network between end users and financial institutions to make transactions get completed effectively. Examples of such Payment Systems are Paypal, Stripe, Amazon Payments, etc.
Partnership Programs (Affiliate Marketing/Referrals) do not need much explanation as this is something virtually everyone engages in on a daily basis. Basically, it is a way of promoting a product or business on behalf of the business involved while getting paid for every sign up, purchase or link click as a result of one’s marketing. In essence, the earnings accrued from this form of marketing are a percentage of the profit the company makes as a result of the person’s marketing.
Issues Facing Cashback, Payment Systems and Partnership Programs
Although all these- Cashback, Payment Systems and Partnership Programs seem to be widely accepted, there are quite a number of problems associated with all three financial “outfits”.
One of the major problems of Cashbacks is the fact that the major benefits of it are focused on e-commerce stores and not offline stores which are traditional to everyone. Although this might not seem to amount to much but if well implemented, it can bring major satisfaction to the consumers and in the end provide more ROI for the companies involved.
Another issue facing Cashback services is the fact that they tend to give so much preference to the companies and reward them with higher percentage forgetting that the delight of the customers amount to more money for the company itself. As there is conflict of interest between businesses and consumers, being that businesses want to make more by selling goods at high prices and sellers wanting to save more money by spending less on goods leaves very little room for incentives for companies to be able to attract new customers.
As for Payment Systems, the major concern here is simple. Major payment systems which operate on fiat currencies or rather facilitate payments in fiat currencies leave room for payers to pay and earn some more via passive income. The same cannot be said for cryptocurrencies. There are existing payment systems for cryptocurrencies but none of them have the function of enabling the users accrue passive income while doing that.
Partner Programs, on the other hand, are ridden with issues and complaints. Since most of them operate on a network system comprising of several businesses trying to advertise their product, there have been an influx of non-certified goods, aggressive marketing, unhealthy competition, high cost of marketing and in turn high prices of goods.
Introduction to International Auto Club (IAC)
While adopting the advantages of all three financial outfits mentioned above, International Auto Club (IAC) intends to bring all three outfits onto one platform and also include several added features to the platform.
IAC was borne out of the goal of some set of like-minded individuals almost half a decade ago which was committed to making consumers’ life much pleasant particularly by offering high quality goods at the best prices to the consumers. Obviously, this isn’t a startup as it already has over 600,000 users and 12,000 enterprises who have over time become IAC partners.
How IAC intends addressing the issues facing Cashback, Payment Systems and Partner Programs will be fully buttressed in the next post while fully focusing on the platform itself.
#IAC #Cryptocurrency #MultilevelCashbackService
For more Information, Kindly Click on any of the links below:
Website: https://www.auto-club.io/#platform
Whitepaper: https://drive.google.com/file/d/1Lk3NcJ8IZXAND-eTgtuu2TQxrjO8yb0b/view?usp=sharing
Lightpaper: https://drive.google.com/file/d/1oOyis2-xvm515PjdDPFcoafJBmHy6zG0/view?usp=sharing
ICO Details: https://www.auto-club.io/#tokendistribution
IAC Telegram Channel: https://t.me/autounit2018
AutoUnit ICO Chat: https://t.me/joinchat/HIhx0xJ9Vj0GLBwNiCsREA
IAC Bounty Chat: https://t.me/joinchat/H83CDBG7T47QuKemEuX9IA
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Author Username: DJHaywire
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