Cashback is the core of Tapwise. It is the linking point between users and merchants and the glue that keeps them together.
Once a user has linked one or more bank accounts to Tapwise, we can start receiving transaction data safely. Users that buy within the Tapwise Network of merchants will earn cash rewards on every purchase. As we receive data from banks, we know when and where a transaction was made and the exact amount with 100% accuracy. Therefore, there is no action needed from either the user and the merchant to obtain cashback.
Tapwise makes use of machine learning to enrich transaction data, collecting public information about merchants from over 50 data sources in Australia. These feeds give us total accuracy confidence when matching transactions against merchants.
We use real-time notifications to congratulate the buyer about earning a reward on a purchase.
Tapwise collects all rewards from merchants weekly through direct debit and keeps it in a bank account until a user sends us a payout request.
We will add NPP (New Payment Platform) technology into Tapwise in Q2 2020. NPP will allow us to make real-time bank transactions from us to our users. Consequently, when users request a payout, we will deposit the funds into their nominated bank account in nearly real-time.
Meaning more business for merchants and Tapwise, it is a common objective for both to process as many transactions as possible. Similarly, more transactions mean more rewards for buyers, which make Tapwise the perfect win-win ecosystem.
Tapwise is an engine fuelled by cash offers, created by retailers within the Tapwise Dashboard, and distributed to the buyers through your App and website.
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