Saturday, August 19, 2017

UBRD's cash-back program pays out approximately $1.2 million

As part of its cash-back program, in the last year the Ural Bank for Reconstruction and Development (UBRD) returned approximately $1.2 million to customers who paid for purchases using their bank-issued credit cards.  

The UBRD offers credit card customers two cash-back packages, “Active” and “Active Gold.” When customers pay for commodities using their Visa or MasterCard instead of cash, UBRD returns 1 percent of the total amount that the customer spends. These terms include online shopping.

The cash-back program first began in 2010, and the bank’s business increased almost immediately. During the past year, 1.7 times more customers have enrolled in the cash-back program. 

Alexei Piskunov, head of credit cards at UBRD, says that cash back is a positive way to motivate customers to use plastic rather than cash as much as they can.

The average amount of money the bank returns to each customer is $4.38 each month.

UBRD has returned funds to more than 138,000 customers, with the maximum refund amount capped at approximately $2,495 per month.

Returning purchases disqualifies the customers from the cash-back benefits.

Organizations in this story

Ural Bank of Reconstruction and Development 67 Ul. Sacco and Vanzetti Yekaterinburg

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