Is Ibotta Stealing Your Money? 08 Nov, 2020

Is Ibotta Stealing Your Money?

The GFT™ Blockchain platform makes this IMPOSSIBLE.

“Maintenance fees” are horrible, especially when a company sends them to you without warning. Ibotta has yet to receive the message that these so-called “maintenance fees” anger their customer base.

Ibotta mirrors the same business practices as airline and other “loyalty” point programs by punishing customers who don’t use their service “enough”.

Delta

The question is why?

Airlines make money through margin on loyalty points, positive working capital and breakage by selling programs to partners like credit card companies, earning interest, then targeting customers not using the miles to create “free money”.

Ibotta doesn’t have the same luxury as the airlines, as every dollar they have to give back to customers comes from their marketing or ops spend so when their outstanding liabilities aren’t redeemed their books begin to look really ugly, really fast.

READ MORE on Medium

comments powered by Disqus