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India's First Cash Back Site Launched!
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VpayCash makes online buying an earning model for every Indian.
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Friday, July 03, 2009:
London-based Web entrepreneur N Shankar has brought his online cash back
experience in India. He started Eway India Pvt Ltd along with S. Ramalingam to launch VpayCash -- the first cash back site in India. This cash back model is based on cash directly being paid into user accounts. The whole model of cash back is based on marketing commissions being passed back to the user for his informed decisions to buy online.
An informed decision is made by the online buyer whenever he buys a specific product or service after thorough analysis and research of his own.
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When a user makes such an informed decision to buy the marketing commission for the product is paid to the user back through VpayCash, says Shankar.
With the online buyer population increasing at 30 per cent per year in developing countries like India, a boon like VpayCash can increase ecommerce at a faster pace realising the real potential of the Indian online market place, according to the company.
This is also seen as a Green technology initiative by the Eway India Pvt Ltd team to make the ecommerce CDM (clean development mechanism) a reality. Consultants at VpayCash also vie the option of trading carbon credits for the benefit of the users though the realisation of it is an actively pursued agenda.
Though primarily a B2C (business to consumer), the company plans to expand this even into the B2B (business to business). This would save 10 per cent of all the variable expenditure that the company makes online and also would save a lot of paper work, tendering, buyer workload which would result in savings to the corporates. VpayCash also intends to extend the services on to the mobile effectively subsidising the user for online purchases.
To earn this revenue the user has to join the site, login into the site and click the link of the vendor before making every purchase. Whatever the user earns throughout the year at VpayCash, is directly paid into the user's accounts after deducting the service charge of Rs 499.
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