We have good news! magicpin will now let you earn cashback on your credit card and UPI transactions. Yes, you heard it right, magicpin now lets you seamlessly earn reward points on every credit card transaction (and soon UPI) without having to post the receipt.
How Does It Work?
1. Opt-in to the feature from the accounts page:
2. Register the card that you want to earn magicPoints on:
3. Get a scratch card every time you do a transaction:
4. Scratch to earn your cashback!
What Is The Need Of This Feature?
Receipts are magicpin's way of closing the loop on offline transactions. On the basis of these receipts, we understood where our users spent their time and money. This led us on the path to bringing them curated savings from relevant partners.
We know that for some users, at certain times, posting the receipt can be a hassle. For instance, when you are standing in a grocery line with hands full of bags, clicking a picture can be a hard skill to master. Over the years, we have significantly reduced the friction in earning cashback from magicpin and this feature is another step in that direction.
Since credit card and UPI transactions are gaining popularity, we saw an opportunity of adding some value to the trend. We took this advantage of the communication that you are already receiving on your phone to close the loop as opposed to you having to post the receipt.
What about my privacy?
We understand your SMS is personal and have made sure it remains that way. This is an add-on module to the app that is downloaded only if you choose to opt-in for the programme.
The app will only read the SMS for credit cards and UPI that you choose to register. It will then processes the transaction on the phone itself and informs the backend of the cashback that needs to be credited.
The privacy of your SMS remains intact.
How soon can I use it?
The feature will be available to magicpin Beta users in the week of 21st March and more users and we will gradually roll it out to more users in the next 2-3 weeks.
Click here! to sign up for the beta from our play store page.
In the first phase, we will allow the cashback only on credit card transactions and UPI will follow. This feature will only work for Android devices for now.
And if you don't want to use the feature yet, you can still earn cashback through receipts. In fact, you will earn more on your credit card and UPI transaction if you post the receipt as well!
Hope you enjoy using it as much as we enjoyed building it. Looking forward to your feedback.