Giophone

You know what�s alluring about a cash back scheme? It seems like you�re getting money for nothing. The idea seems pretty simple � get a credit card that offered cash back schemes on purchases of big ticket items or, nowadays, sign up with a site that offers a cash back opportunity with every online purchase made.

 which strive to provide the Indian seller with instant gratification of getting extra bucks. As a matter of fact, the new kid on the block is called just that; getextrabux.com.

They too boast around 200 retailers; they too give back a portion to the customer in the form of a cash back deal; they too have space for coupons and discounts and deals; and their website is user friendly too! Here�s the difference; they�ve integrated a price comparison feature and a smart login feature.

�Price comparison isn�t a new thing. But price comparison in a site that gives cash back deals and coupons is new. You can make a purchase straight from the price comparison page, and get cash back!� says KR Murle, Co-founder of getextrabux.com. �That and our new smart login feature, where you don�t need to log into our site, but just the retailer site, are our two differentiators.�

The site is about 8 months old, and they haven�t invested much in marketing. �We�ve been focusing a lot on the sort of technology we have. We plan to start aggressively marketing once we secure some funding. With our differentiators we should be able to capture the market,� he explains.

Most of their business comes from Flipkart, Myntra and amazon, They get about 1500 visitors in a day and have already given back up to a lakh in cash back returns in the past few months. �Our target audience is college kids and IT guys. We have sponsored a few college fests which has raised some awareness. We�re pushing to do something creative though,� he states.

Murle tells me their biggest challenge has been to work with minimal funds. They�re targeting 10,000 transactions a day before they think of slowing down just for a bit. �I haven�t drawn any salary in the past three years!� he rues.

�We�re working on a lot of things right now. We have just launched the smart login and price comparison feature. Augmented Reality is on our radar right now. We�ve also gone live in Singapore to address the markets in Singapore, Malaysia and Indonesia. We will be the first cash back website in Singapore!� he reveals. The marketing for the Singapore website will take off once the funding is in place. Redmart.com, qoo10.com, foodpanda.sg, etc. are some of their partners in the Singapore 

�Flipkart�s and Myntra�s affiliate models were different. Hopefully, they�ll still remain separate. It shouldn�t affect us much though,� he states.