Evo Banco creates an intelligent cashback

2023-07-18 14:30:47

Evo Banco has created an intelligent ‘cashback’ that will allow its customers to recover part of the money spent on purchases with the entity’s cards, which will mean an average saving of 8% in their account.

This service has been developed in collaboration with Coinscrap Financea Spanish fintech specialized in financial health through artificial intelligence and advanced data analysis.

The new tool provides the entity’s clients with access to an ecosystem of automatic rewards that generates direct account refunds without the need for coupons, links to discount pages or additional procedures; since it allows you to identify in real time the purchases made in the associated stores and execute the refunds immediately.

The new service will be integrated into the application of Evo Bankin such a way that customers will have access to all the information related to this service: personalized history of all the rewards credited to their account, the updated list of all associated establishments, as well as the savings percentages available to help them plan their purchases and get maximum rewards.

The new ‘cashback’ system will be compatible with all purchase payment systems: with a physical debit or credit card, as well as any other digital payment method.

The entity has indicated that it will deploy this service gradually for all customers that will incorporate in a first phase more than seventy establishments of the ten economic sectors most related to the shopping basket, such as supermarkets, gas stations, technological purchases, leisure, travel, catering, fashion, beauty and health, or household products.

Likewise, both the associated establishments and the return percentages will be updated on a recurring basis, while the savings are cumulative together with any promotion or discount that any of the EVO associated establishments have.

Evo Banco’s business and laboratory director, Juan Rosas, pointed out that “true innovation is that which is practically invisible to the user’s eyes. A person will be able to travel a weekend in their car after refueling in Galp, or do it in good company with a Blablacar, they will be able to stop for a coffee at a Starbucks and take advantage of that free time to do the shopping […] Each of those purchases and dozens more will be much cheaper just for being from Evo.

For his part, the CEO of Coinscrap, David Conde, stated that “working with EVO, such a digital and dynamic bank, has always allowed us to bring highly innovative solutions to the retail market that add a lot of value to the end customer. This new automatic cashback service is further proof of this.”