Cashback configuration

PayCredit's cashback reward critera allows configurable eligibility conditions for Cashback Rewards on transactions. It ensures that cashback is awarded based on specific product configurations, transaction types, and additional merchant-based criteria such as MCC codes. This provides greater flexibility in defining and managing cashback rewards for revolving credit accounts.

Customers and financial institutions require a configurable mechanism to control cashback rewards based on predefined criteria. This feature:

• Aligns cashback eligibility with product and transaction-level configurations.
• Allows granular control over MCC-specific rewards.
• Enhances customer engagement by ensuring cashback incentives are tailored to spending behavior.
• Supports business strategies to drive adoption and usage of credit cards.

Key functionalities & capabilities

• Transaction Type Selection: define eligibility based on product type and transaction type (e.g., Purchase).
• Merchant-Based Criteria:
  • Merchant Category Code (MCC) or MCC range (Inclusion/Exclusion) (Pending Development)
• Amount-Based Conditions:
  • Minimum transaction amount for cashback eligibility.
  • Maximum transaction amount eligible for cashback.
• Time-Based Eligibility:
  • Minimum and maximum transaction date.
  • Cashback reward start and end dates.
• Reward Configuration:
  • Fixed cashback amount.
  • Percentage-based cashback.
  • Calculation logic (e.g., highest, lowest, or combination of amount and percentage).
• Introductory Offer: set time period for cashback reward availability, e.g. first 60 days after account opening
• Reward Limits:
  • Daily cashback limit.
  • Cycle-based cashback limit.