T-Bank has launched a free service to promote local businesses through increased cashback for customers living nearby, the bank’s press service told RB.RU. According to the credit institution’s forecasts, the service will increase the turnover of small businesses by 30%.

T-Bank launched free service to promote regional businesses
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The service is suitable for points of sale in cities with more than 100 thousand inhabitants, with the exception of tobacconists, hookah bars and financial and insurance entities. There is a separate T-Travel service for hotels.

Cafes, restaurants, grocery stores and other offline outlets will be able to attract new customers by offering higher cashback to T-Bank customers who frequently visit their area, according to the report.

During the first month, the bank fully compensates members for cash back expenses. Entrepreneurs from all over Russia can place their offer in the “Increased cashback for a month” section in the T-Bank application. Algorithms select an audience that often makes purchases nearby and offer them refunds for purchases at that time, the press service explained.

According to the bank, 70% of the entrepreneurs who participated in the test have already increased their turnover by more than 30%. Among the advantages of the service is the absence of commission for placement and audience selection without the need to set up advertising.

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To use the service, you must open a current account and make business purchases at T-Bank. Account maintenance is free for the first two months, acceptance of card payments starts from 1.2%. Already connected clients only need to submit a request in their personal account.

In late October, T-Bank introduced a system to manage corporate spending on business cards. This is the “first in Russia” service that allows you to automate the process of tracking employee expenses, from issuing cards to linking checks for accounting, the bank said.

Author:

Karina Pardaeva

Source: RB

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I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.

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