The best cash back apps 2020 have revolutionized the way we save and earn money in Kenya. By using these apps, users can get cash back on their purchases, pay bills, and even earn rewards on their expenses. Whether you’re a busy professional, a stay-at-home parent, or a student, these apps can help you save money and achieve your financial goals.
However, with so many cash back apps available in the market, it can be challenging to choose the right one. In this article, we’ll explore the features, benefits, and drawbacks of some of the best cash back apps 2020 in Kenya, to help you make an informed decision.
Understanding Cash Back Apps
Cash back apps are mobile applications that offer users a percentage of their purchase amount back as cash or rewards. These apps work with various merchants, both online and offline, to offer cash back on a wide range of products and services. To earn cash back, users typically need to download the app, create an account, and link their debit or credit card to the app.
Cash back apps can be broadly categorized into two types: browser extensions and mobile apps. Browser extensions, such as Quidco and TopCashback, work on desktop computers and offer cash back on online purchases. Mobile apps, on the other hand, offer cash back on both online and offline purchases.
Top Cash Back Apps in Kenya 2020
Here are some of the top cash back apps in Kenya 2020:
- Wibson – Wibson is a cash back app that offers users up to 20% cash back on their purchases at various merchants, including supermarkets, restaurants, and online retailers. The app also offers a referral program, where users can earn cash back for inviting friends to join the platform.
- Deals – Deals is a cash back app that offers users cash back on their purchases at various merchants, including online retailers, restaurants, and travel booking websites. The app also offers a rewards program, where users can earn points for every purchase made.
- Barclays Rewards – Barclays Rewards is a cash back app that offers users cash back on their purchases at various merchants, including supermarkets, restaurants, and online retailers. The app also offers a rewards program, where users can earn points for every purchase made.
- First Leasing Cash Back App – First Leasing Cash Back App is a cash back app that offers users up to 15% cash back on their purchases at various merchants, including online retailers, restaurants, and travel booking websites.
- PayPal Cashback – PayPal Cashback is a cash back app that offers users up to 10% cash back on their purchases at various merchants, including online retailers, restaurants, and travel booking websites.
Features to Look for in Cash Back Apps
When choosing a cash back app, there are several features to look for. Here are some of the key features to consider:
- Cash back rates – Look for apps that offer high cash back rates on various merchants and products.
- Merchant selection – Choose an app that offers cash back on a wide range of merchants, both online and offline.
- User interface – Opt for an app with a user-friendly interface that makes it easy to navigate and track your cash back earnings.
- Referral program – Consider an app that offers a referral program, where you can earn cash back for inviting friends to join the platform.
- Customer support – Look for an app with good customer support, in case you encounter any issues or have questions.
By considering these features, you can choose the best cash back app for your needs and start earning cash back on your purchases.
Getting Started with Cash Back Apps
Getting started with cash back apps is easy. Here are the steps to follow:
- Download the app – Download the cash back app from the App Store or Google Play Store.
- Create an account – Create an account on the app by providing your basic details, such as name, email address, and phone number.
- Link your card – Link your debit or credit card to the app to start earning cash back.
- Start shopping – Start shopping at various merchants that offer cash back through the app.
- Track your earnings – Track your cash back earnings through the app’s dashboard.
By following these steps, you can start earning cash back on your purchases and achieving your financial goals.
Conclusion and Future of Cash Back Apps
It’s worth noting that the cash back apps market in Kenya is still growing and evolving. As technology advances, we can expect to see more innovative features and benefits being introduced by cash back apps. Some of the future trends in cash back apps include the use of artificial intelligence, machine learning, and blockchain technology to enhance user experience and improve security. Additionally, we can expect to see more cash back apps offering rewards on sustainable and eco-friendly products, as well as cash back on healthcare and wellness services.
Maximizing Your Savings: Top Cash Back Apps of 2020
In 2020, cash back apps have become an increasingly popular way to earn rewards on everyday purchases. With so many options available, it can be challenging to determine which apps offer the best rewards. Here’s a breakdown of the top cash back apps of 2020, helping you make informed decisions about which apps to use.
| App Name | Sign-up Bonus | Base Earning Rate | Categories with Enhanced Earning Rates | Minimum Redemption Threshold |
|---|---|---|---|---|
| Ibotta | $10 | 1% – 10% | groceries, household essentials, personal care | $20 |
| Rakuten (formerly known as Ebates) | $10 | 1% – 40% | electronics, clothing, home goods, travel | $5 |
| TopCashback | $10 | 1% – 25% | groceries, gas, dining, entertainment | $10 |
| Dosh | $5 | 2% – 10% | groceries, gas, dining, entertainment | $25 |
| Drop | $5 | 1% – 10% | groceries, gas, dining, entertainment | $20 |
In conclusion, the best cash back apps of 2020 offer a range of rewards programs to suit different shopping habits and preferences. When choosing a cash back app, consider the sign-up bonus, base earning rate, and categories with enhanced earning rates. Additionally, be aware of the minimum redemption threshold to ensure you can easily cash out your rewards.
Start maximizing your savings today by downloading and signing up for these top cash back apps. Remember to always read the terms and conditions, and use cash back apps in conjunction with other rewards programs to optimize your earnings.
Best Cash Back Apps in Kenya 2020: Frequently Asked Questions
Q: What are cash back apps, and how do they work?
Cash back apps are mobile applications that offer rewards in the form of cash or other benefits when you shop online or in-store through their platform. They partner with merchants to provide a percentage of your purchase back to you as a cash reward. This can be a convenient way to earn money back on your everyday purchases.
Q: Are cash back apps available in Kenya?
Yes, several cash back apps are available in Kenya, although the selection may be limited compared to other countries. Some popular options include Lipa Later, SokoWatch, and M-Changa, among others. You can research and compare these apps to find the one that best suits your needs.
Q: What are the benefits of using cash back apps in Kenya?
The benefits of using cash back apps in Kenya include earning money back on your purchases, increasing your savings, and enjoying other rewards and benefits offered by the app. This can be a great way to stretch your budget and make your money go further.
Q: How do I choose the best cash back app in Kenya?
To choose the best cash back app in Kenya, consider factors such as the types of merchants that participate, the cash back rates offered, the ease of use, and the fees associated with the app. You should also read reviews and compare features to find the app that best meets your needs.
Q: Are cash back apps safe to use in Kenya?
Generally, cash back apps in Kenya are safe to use, as long as you follow best practices such as using strong passwords, being cautious of phishing scams, and keeping your app and device up to date. Always research the app thoroughly and read reviews from other users before signing up.
Conclusion: Smart Cash Back Strategies for a Financially Fit Future
In this article, we’ve explored the world of best cash back apps 2020 and how they can help you save money, earn rewards, and make the most of your daily expenses. By using these apps, you can potentially increase your savings rate and reduce your financial stress. For instance, research by the Central Bank of Kenya (CBK) shows that in 2020, the average Kenyan household spent 70.2% of its income on essential expenses like food, housing, and utilities (CBK Annual Report 2020). By using cash back apps, you can allocate a larger portion of your income towards savings and investments.
Here are some quick tips to help you make the most of these apps:
* Set a budget and track your expenses to identify areas where you can save money
* Use cash back apps for everyday purchases like groceries, fuel, and dining out
* Consider opening a separate savings account to store your cash back rewards
* Be mindful of any fees or interest rates associated with cash back apps
Clear Next Steps
Here are three easy steps you can take today to start using cash back apps effectively:
1. Download and install a cash back app on your mobile device
2. Create an account and link your debit or credit card
3. Start using the app for your daily purchases and earn cash back rewards
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