Cashback: Save Money With Leatherback Virtual Card
Leatherback understands the substantial expenses that come with operating a business, not to mention additional costs associated with other payments related to subscriptions, suppliers, bills, and other fees in foreign currencies. This is the inspiration behind introducing a Leatherback virtual card that enables you to always pay with the real exchange rate and pay no foreign exchange fees.
However, the main goal of this idea is to make a bit extra money for you, which translates to saving money while receiving about 1% cash on eligible purchases or payments.
We absolve ourselves with the mission of providing a single access point that empowers individuals and businesses to be truly global. So we itch closer to bringing this to fruition by enabling our users to save money when they use Leatherback virtual cards.
The merchant charges their acquiring bank a fee for every transaction you make using your Leatherback card. Nonetheless, network providers like Mastercard or Visa and card issuers (Leatherback) receive a part of this fee. Often, an interchange fee is what most businesses pay, but Leatherback partly makes money from using the card.
Also, when you withdraw money or make payments in a foreign currency that is not in your balance, we are charged ATM fees and conversion fees in addition to interchange fees. So this is a revenue-generating funnel for us as a company.
We have expenses associated with providing you with business and personal virtual cards, just like you do. We spend money on verification and onboarding when we have a new Leatherback customer. After printing your cards, we'll cover the costs of packaging, mailing, and card manufacture before sending them to you and your staff.
Based on our revenue and expenses, we presumed that 1% is the maximum payback we could provide. We use cashback on virtual cards to give you a portion of our profit margins. To pass through more cashback to you, we work to reduce costs. However, to ensure that we do so sustainably for both you and our company, we may need to adjust the cashback rate in the future.
Although the Leatherback virtual card is available for personal use and businesses, it is best used for business expenses, which are more frequent than individual expenses. As such, members of staff of a company can have access to the Leatherback virtual card from any part of the world where the operation of Leatherback is licensed.
Therefore, you can continue to make payments or purchases with your Leatherback virtual card to receive 1% cashback. Earning cashback is easy to achieve as all you have to do is start spending. In other words, the more frequent your expenses are with the Leatherback virtual card, the more you become eligible for its cashback.
However, you can sign up for a Leatherback virtual card for your company if you don't have one.
1. Create a Leatherback account to get started.
2. Request instant USD, GBP, or EUR virtual card issuance.
3. Create your preferred currency card of issuance.
4. Order the Leatherback card.
5. Receive the virtual card in your mailbox.
Cashback is undoubtedly a tool of motivation and retention to ensure our customers are happy and satisfied when using our platform to make payments of all sorts. So, how the cashback works include:
Pay for different transactions using your Leatherback virtual card
The sum of your cashback will be calculated at the end of the month concerning the total transactions you made throughout the month with your Leatherback virtual card
You will receive your cashback immediately after the total calculation, and we will inform you via email and push notifications
Cashback is available on all payments made using your Leatherback personal and business virtual card except:
Payments to financial institutions
Payment to the government or regulated authorities
Cash or cash-like transactions involving a medium like ATM withdrawal
Payments associated with the investment, savings, crypto assets, or commodities
Leatherback will use the currency of your profile nation registered with us as the default for the cashback currency. You will receive the payback amount in Nigerian naira (NGN) if you reside in Nigeria or British pounds (GBP) if you live in the UK, as the case may be.
When you use your Leatherback virtual card, you are automatically qualified for cashback. You accept our terms and conditions by using your virtual card in further transactions. However, you can contact the support team if you prefer not to receive cashback.
Cashback is a viable way to make money, mainly when you use the Leatherback virtual card, as the card enables you to save some money on your payments. You can also enjoy the benefit when you sign up for a Leatherback account and request our virtual card.