Shortly before market entry and on halfway to close a € 500k crowdfunding campaign, a London and Budapest based Startup, Recasher has completely redefined the concept of customer loyalty programs.
Lajos Ludman, former Deloitte partner and co-owner president of Cardnet Zrt., the largest bank-independent payment company in Hungary, as CEO, has teamed up with Richard Hollmann, serial Fintech entrepreneur, and kicked off the venture. Bernhard Reiterer, payment expert, owner of Momentum consulting, Ferenc Décsi online banking and payment technology expert, have been onboarded to shake up the multi-billion Euro industry.
“Immediate benefits for consumers” is the mission.
The international team of RECASHER, headquartered in London and Budapest, has made a complete redefinition of the concept of consumer satisfaction.
The eternal and well-known phenomenon of loyalty cards and unresolved points, unsuitable semi-gift products and hidden conditions will finally be put to an end. "It can and will be different," was initially the creed of the team, which made immediate benefits for consumers to a company mission.
"Real time real money cashback" is the new slogan.
After numerous rebate systems and customer loyalty programs, RECASHER is the first company worldwide offering every participating customer real money cashback in real-time for every purchase, which is made in-house or online at the partner shops. No points, no cards, only cash back - with a single mobile app, the RECASHER APP. Households, small and large families, and everyone who would like to save money – in average 4-6% on every purchase daily are offered a solution, according to the founding team.
The satisfied customer is the best customer. And also the most loyal one. For the first time, there is the possibility, both from the legal environment as well as from the technical prerequisites, to bring a corresponding solution on the market.
The old-fashioned methods of customer loyalty will thus finally say adieu, including unused and lost points - worth billions – each year. From now on the customer is king, being granted concrete benefits, such as real savings, flexibility and freedom.
RECASHER is a new, fully transparent, regulated e-money based loyalty program.
Being regulated and supervised by the respective financial supervisory authority guarantees transparency and full compliance with the respective payment rules. That is what makes RECASHER unique and revolutionary in its setup.
The RECASHER solution provides benefits to both consumers and merchants.
While consumers receive immediate real money cashback, merchants will opt for RECASHER for several other sound business reasons.
Merchants can target RECASHER customers with spending pattern-specific promotions that are way more efficient than general advertising. Relevance is ensured by processing "big data" from social media, geolocation, shopping history, and personal interest.
Consequently, it is not only cashback, RECASHER is also a mobile payment app for consumers that facilitates significant savings over card payment costs for merchants.
16 month of development work and over 800,000 euros have already been invested by private investors into the 9.5 million euro valued Recasher Ltd., which currently runs a € 500k crowdfunding campaign on Seedrs.com, one of the world's most prominent Equity Crowdfunding portals. More than 50% are funded already.
Currently the team is looking for strategic partners in the first target markets, Germany and Austria.
Valuable co-operations have been agreed on, enabling RECASHER users to pay from day 1 at 15.000 cash registers in Austria, including major retail chains like SPAR, BILLA, Merkur, ADEG, MPREIS, BIPA, Hervis, Cineplexx, as well as at a rapidly growing number of cash registers in Germany.
Investors and retailers are welcome to join. RECASHER is going live in Q2 2017.