Nowadays, most people enjoy shopping online and especially so, if you are shopping on discounted stores or stores offering cashback such as Lyoness, a popular cashback program.
What is Lyoness?
As stated on their website, Lyoness is the world’s largest community, composed of online shoppers from different parts of the world. People who join Lyoness learn how to spend money and how to get their money back on everything they purchase.
What is Cashback?
Literary, Cashback means “cash given back”. You get a certain credit (in form of cash) to your account every time you purchase an item.
For example, If I was to buy a car from a certain dealer and the indicated price is $15,000 with $1,000 cashback. This simply means I will purchase the car at $14,000 instead of $15,000. However, cashback is also taxable and sometimes there might be other hidden charges that need to be paid.
What are the Benefits of Joining Lyoness Cashback?
As stated on their website, Lyoness offers an unmatched network of chain stores, SMEs and online Loyalty Merchants, enabling members to shop in all sectors from anywhere around the worldwide.
Members who register with Lyoness are able to shop from over 24,000 Loyalty Merchants and 3,200 Online Loyalty Merchants stores.
As a member of Lyoness, you receive a cash back of up to 5% of the purchase value as well as shopping points, which are credited to your cash account. The money can be transferred to your private bank account without any deductions.
You also receive 0.5% of the purchase revenues generated by your new recommended members (Direct Friendship Bonus).
In addition, if one of your new member recommends Lyoness to another new member, you receive a further 0.5% of the purchase revenues generated by this new Member (Indirect Friendship Bonus).
Other Important Information about Lyoness Cashback
- Lyoness casback was started 9 years ago in Austria. Today, the company has extended to include other countries like; United Kingdom, America, Mexico, Brazil, Australia, Canada, India, Asia, Philippines, South Africa and Middle East.
- Lyoness cashback shopping community is currently made of more than 2 million shoppers/members.
- You can also shop offline, online or through the use of a mobile application.
- Joining Lyoness cashback is free. No subscription fee or any other sort of payment is needed.
- Lyoness is successfully audited according to the ISO 9001:2008 certification.
- Lyoness was also awarded the internationally recognized IQNet certificate as additional confirmation of its quality management.
How to Get Money Back While Shopping with Lyoness
Log on to your account and using the loyalty partner search function, search for online shop or the company that is offering the item you want to purchase.
After you have found the online shop where you want to purchase your item, click on the loyalty partner’s logo or the ‘shop online now” button.
The value of the Lyoness benefits will generally be calculated from the net value of your purchase.
As soon as your purchase is complete, (usually takes around 24 hours to complete) you will be able to receive your Lyoness benefits in form of credits to your preferred account, depending on your settings.
Your accumulated cash will be transfered to your personal account once you have reached the payout threshold.
Lyoness offers a great opportunity for shoppers, small business owners and anyone else who would like to make or save some money while shopping online.
However, since Lyoness only connect its members with merchants or sellers, it is your responsibility to make sure you read and understand every merchant’s/seller’s term of use to avoid getting yourself into problems or paying extra taxes.