Cashback
1.Cashback is a discount offered in return for immediate payment, a service provided by some supermarkets in which customers paying by debit card can draw cash. (Collins English Dictionary).
2.Cashback is aa system in which banks or businesses encourage people to buy something by giving them money after they have bought it:The major banks are offering cashback deals of up to £5,000 on their mortgages. (Cambridge Dictionary).
3.Cashback is a credit card perk where the cardholder earns a percentage of eligible spending.
The three most common forms of cashback include flat rate cashback, tiered rate cashback, and different rate cashback depending on the type of spend.Cashback is generally redeemed through a bank deposit,offsetting your credit card balance, or a gift card. ( Corporate Finance Institute).
Cashback. Definition and meaning.Collins English Dictionary. (2024). https://www.collinsdictionary.com/dictionary/english/cashback
Cashback. (2024). Cambridge Dictionary. https://dictionary.cambridge.org/dictionary/english/cashback
Cashback. (2024). Corporate Finance Institute. https://corporatefinanceinstitute.com/resources/wealth-management/cashback/