Cashback isn't simple, or free
It just seems like it is.
Behind every cashback transaction sits an enormous network of merchants, banks, card networks, transaction providers, publishers, affiliate networks, reward platforms, reconciliation systems, invoicing each other, collecting money and moving it. Every time money moves from one party to another there is a cost, and that cost erodes ROI for merchants and reduces rewards for consumers.
Simplifying this complexity and eliminating inefficiency is the opportunity.
The world already earns billions in cashback.
But cashback doesn't move.
Every reward programme is its own economy. And almost none of those economies can talk to each other.
The industry has networks.
It doesn't have a network.
Because no single participant should own the network.
Economic rules can execute automatically.
Value can move between connected applications.
Supply and movement can be independently verified.
The economic layer isn't constrained to one rewards programme.
Value can move rather than terminate.
New participants can integrate with the economic layer.