A cashback promotion is a marketing strategy where customers receive a percentage of their spending back after making a purchase. This type of promotion is often offered by credit card companies, retailers, or online platforms as an incentive to encourage spending. The cashback reward can typically be redeemed as a credit toward future purchases, a statement credit, or even as cash deposited into a bank account.
For example, a credit card might offer 5% cashback on grocery purchases or 2% on all other spending. Retailers may offer special cashback rates during promotional periods or for specific product categories.
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