What is CashBag?
CashBag.co is a transactional cash back aggregator that enables consumers to secure discounts and cash back for shopping and transacting online at thousands of participating global merchants. For each transaction concluded CashBag members earn cash back which is collected by CashBag from the participating merchant,
accrued to the member wallet and paid out in fiat to linked accounts. It is more than just a rewards website, it’s a tool that helps savvy, savings conscious shoppers earn cash back and secure discounts on just about any online purchase. It’s used by active online shoppers, businesses and just about anyone that’s interested in saving when shopping online.
How Cashback Works?
Well, it is as simple as downloading their app into your cell phone or getting the desktop version for your personal computers and laptops. As soon as this step is completed, you will be notified and the process will be activated. You start getting rewards on every purchase you will make online. It is as easy as that.
You might be thinking what’s in it for Cashback, right? Or how Cashback manages to do all of this for the consumers. It is actually the contract that Cashback has with thousands of merchants worldwide. This contract enables the Cashback team to generate coupons that work as a reward when a consumer trades with those particular merchants. Every successful transaction results in rewards and the Cashback Apps are there for the management and reporting of your total savings.
The app works purely for the consumers and there is no reason for not using it or not liking it, perhaps the app is one of the finest innovative ideas of this year. If you are looking to avail the opportunity, just go to the Cashbag.co and sign up.
CashBack offers several benefits which are as follows:
1.They provide services to its users across the globe at lower costs.
2.They reduce underutilization, as there is no one in the world who doesn't runs behind the discounts and the cash backs!
3.It also helps to generate additional incomes to the participating merchants
4.CashBack also helps the participating merchants to acquire new customers by publicizing their offers and deals to attract the new customers to the merchants.
5.It also binds or forms a strong bond between the participating company and the customers.
6.Provides security planning and the stability to the participating merchants.
How CashBag earns revenue
CashBag has partnered with hundreds of global merchants and continues to onboard new merchants daily. These merchants all agree to share revenue based on transactional income generated by CashBag online shoppers. Through our direct & network integrations with the merchants we’re able to report transactions in real-time and accrue cash back savings for our members.
Why utilize blockchain?
By integrating our wallet to blockchain settlement we create a mechanism to speed up cash back settlement and incentivize our members by allocating them a token with a real world supported value which can be traded,
redeemed and used across any ERC20 wallet supporting partner.
The intent is to differentiate CashBag by offering our members an easy to use and understand cryptoasset, which will be mass promoted as a rewards token.
Members will earn tokens in addition to cash back, paving the path for mass adoption as consumers will have a way to ‘earn’ tokens just by shopping from our partners.
The token will drive customer adoption and new customer acquisition as we’ll incentivize members to sign up and earn tokens by spending through the platform. This will result in an increased revenue and associated profitability.
Advertisers will use the token to purchase advertising & incentivize customers through the CashBag platform.
Members can opt to receive their cashback in their native currency or convert at ruling market price to CashBag
Tokens and store their savings in our ERC20 compliant wallet.
Similarly, they can cash in their CashBag Tokens and receive fiat payments in their native currency.
Token Technology
The CashBag Token (CBC), a token based on Ethereum, is an important element of our marketplace. Ethereum is an open source, blockchain-based, distributed computing platform oriented towards smart contracts. Effectively, Ethereum is a distributed virtual machine that allows end users to construct smart contracts for transactions. Smart contracts are stateful applications stored in the Ethereum blockchain.
Team
CashBag iѕ lеd bу co-founder and CEO Jonathan Millеr, a Sоuth Afriса-bаѕеd еntrерrеnеur сurrеntlу serving as CEO оf Fоrgе Mеdiа Invеѕtmеntѕ Limitеd. Hе co-founded CаѕhBаg.со.zа in Julу 2015, initiаllу ореning to online rеtаilеrѕ асrоѕѕ Sоuth Africa.
Other key members оf thе team inсludе Kirѕtу Hеndеrѕоn (Cо-Fоundеr and Buѕinеѕѕ Lеаd), Eugene Benade (Cо-CTO and Software Dеvеlорmеnt), Nicolaas Venter (Cо-CTO аnd Sуѕtеmѕ Enginееring / Sоftwаrе Development), аnd Jоnаthаn Mеаnwеll (CMO and Buѕinеѕѕ Development / Advеrtiѕеr Sаlеѕ).