WaffarX, the first cashback provider in the Mena region, has announced its collaboration with the Commercial International Bank, starting with the launch of the WAFFARX I CIB app.
The announcement came during the event hosted to show appreciation for WaffarX’s most loyal customers and dedicated partners.
CEO of WaffarX, Ezz Fayek, said: “WaffarX is focused on delivering consumers a seamless, valuable and engaging rewards experience on behalf of our brand partners, cultivating a meaningful relationship where everybody wins. We plan to leverage the collaboration to combine our technology with CIB’s scale and yield even more benefits and savings for our members and CIB customers.”
CIB customers can now access higher cashback rates from WaffarX’s catalogue of top local and global brands, including Amazon, Booking.com, Jumia, B.Tech, Spinneys, Nike, Springfield and Rabbit App.
WaffarX I CIB customers also get other exclusive benefits, like payment transfers (cashout days) six times a year, instead of the usual four. This collaboration will enable CIB to harness the power of cashback rewards.
With WaffarX, the collaboration is the first of its kind in the market with more in the pipeline, taking into account how well both teams could work together, not to mention the wins across all levels.
Consumers save and shop more while brands acquire and retain loyal customers due to WaffarX scheme. This impactful model has resulted in year-on-year growth, as top global brands have been leveraging the platform to drive sales.
So far, WaffarX has returned around EGP25 million in cashback to its members.
In December, WaffarX announced a multimillion-dollar investment led by leading Silicon Valley VC lobby Capital, which included initial investors A15, a top Egyptian VC.
Other popular cashback platforms like TopCashBack, Swagbucks and Shopback have also emerged in recent years in the region as e-commerce gains momentum.
