Yes Bank, Cashkaro to launch first card linked offers program

Private sector bank Yes Bank on Tuesday announced its tie-up with Cashkaro to launch India's first Card Linked Offers (CLO) cash-back proposition.

The new launch is an innovative customer loyalty platform that provides online and offline shoppers with personalized merchant deals on which shoppers can avail cash-back offers, Yes Bank along with CashKaro will launch the Card Linked Offers pan India.

The transformative technology of CLO program will now enable YES BANK debit cardholders to earn customized cash-back offers from a wide range of participating online merchants as well as brick and mortar stores including Forever 21, TataCliq, Chaayos, Junkyard Cafe, UrbanClap, Zivame, Nearbuy, Limeroad, Netmeds, BigBasket, Fortis Healthworld, The Beer Cafe and Fresh Menu amongst others.

Yes Bank cardholders will receive personalized offers on the basis of their shopping patterns which will be communicated via SMS, e-mailers and mobile app notifications. Cardholders simply need to use their Yes Bank debit card to pay at these offline stores/websites.

Within a few seconds of transacting, customers will receive a message stating their eligibility for cash-back and will subsequently receive upto 25 percent cash-back basis the store and type of product purchased by them.

This is a fully automated program removing the need for additional coupon codes and merchant integrations, thereby offering the users a hassle-free experience with offers being personalized to their unique needs. The credit of the cash-back to Yes Bank savings account and Yes Pay Wallet is also completely automated right from tracking to settlement.

"We are excited to collaborate with CashKaro.com and add the transformational Card Linked Offers to Yes Bank's existing range of innovative digital banking services," said chief digital officer at Yes Bank, RiteshPai.

This first of its kind alliance will also encourage cashless spending by the use of bank's payment products and support Government of India's drive to move India towards a 'less-cash' economy.

"We are thrilled to have this opportunity to change the savings experience of millions, especially as CLOs will enable customers to save on both online and offline purchases. Card Linked Offers enable customers to earn cash-back in the most seamless manner which reflects into their bank accounts instantly," said co-founder CashKaro, Rohan Bhargava.

He further said that there has been tremendous response from both online and offline retailers eager to participate in the program.