NEW YORK—A new report indicates that the cash-back war is heating up, extending beyond credit cards—giving CU card portfolio managers more to think about.
More apps and websites are offering ways to earn money on the things consumers buy, as long as they are willing to sign up and make a few taps or clicks, the Associated Press said.
“Groupon, RetailMeNot and others work with restaurants and retailers to offer cash back for their users. In return, they get a cut of the sales made. But shoppers have to do some work for the money. You may need to link a credit or debit card, or visit the app before you shop to unlock the deal,” the Associated Press explained.
And then there's the fine print to read: Some will offer money back, but only up to a certain amount. And in most cases, debit card purchases need to be processed at the register as a credit card; typing in a personal identification number won't earn the cash back, the AP noted.