Byteball Cashback Program

Byteball cashback program was announced more than one month ago and first merchants launched on September 5, this post describes it in more detail and adds an application form.

Cashback is a way to distribute Bytes (the native currency of Byteball) to users who make purchases and to help build a network of users and merchants who are part of Byteball ecosystem. If you are a merchant, a payment processor, or a card issuer, you can participate.

The rules

The basic rule is that for every qualifying purchase, your customer receives 10% of the value of the purchase, in Bytes. For example, if he bought for $100, he receives $10 in Bytes according to the current exchange rate. The percentage can be decreased for large purchases — the purpose of this program is getting more users, not distributing more coins.

The cashback is funded from the undistributed pool, you (the merchant) don’t have to pay anything.

If the purchase was paid in Bytes, the cashback increases to 20%.

Merchant-match: if you want to pay additional cashback out of your pocket, we match your cashback, i.e. for every 1% you pay, we add 1% more. The maximum merchant-funded cashback that we match is 10%.

There is limited number of coins in the undistributed pool, the program runs as long as the pool is not depleted.

How it works

You should inform the customers about cashback opportunity, so it doesn’t come as a surprise, rather it drives more sales.

After the order was placed, or at some other point in the order process, you ask the customer about his Byteball address for receiving cashback. The address serves like the number of a loyalty card, and the concept should be familiar to mainstream customers even though it is a cryptocurrency. At this point, the customer should have already installed his Byteball wallet.

When the order is paid, or otherwise finalized, you send us the purchase details, together with the customer’s Byteball address, using our API https://github.com/byteball/byteball/wiki/Cashback-API. If you are handling the orders manually, you can also send the same information by manually filling out the form at https://byte.money. We immediately send cashback to the customer.

Promotion

We expect you to take the cashback program as an opportunity to increase sales. You do it by actively promoting the offer among new and existing customers, explain what is Byteball, what is Bytes, and how to use them. To be better prepared to answer the latter question, it is highly recommended to start accepting Bytes for payment (you can do it yourself or use https://byteball-for-merchants.com payment processor).

The concept of receiving rewards for purchases and later using them for new purchases should be already familiar to customers from air miles and other loyalty schemes, and it will be easy to explain the cashback offer using this similarity. Unlike most existing rewards schemes, the Bytes that the customers receive are not locked to a single merchant or a group of merchants, they have real monetary value and instant liquidity. For many customers, it is also a way to be introduced to the world of crypto.

Who qualifies

Most merchants who sell consumable goods and services qualify. We do not accept merchants who sell financial services and merchants whose sales can be easily reversed. We don’t want to be open to abuse when customers loop the same money for multiple purchases to receive cashback again and again. If you sell goods and services of different nature, you should exclude the reversible ones from the cashback program.

Application form

If you are a merchant, payment processor, or card issuer and would like to participate in the cashback program, please fill out this form, we’ll get back to you within 1 business day.