Quidco
From Wikipedia, the free encyclopedia
Quidco is a British cashback website. The site earns commission on users' online purchases, and passes that commission back to users in the form of rebates. The site was referred to in 2005 as "the choice for cashback kings" by The Guardian[1]. It has also been featured in several other articles by several other independent sources, including The Independent[2], The BBC[3] and twice in The Times [4][5]. It also has been referred to, by Reuters, Moneyweek, Motley Fool and moneysavingexpert[7]. It has also been recommended in a video by Dominic Littlewood[6]. It is Britain's most popular cashback website, and almost three times as popular as its nearest competitor as reflected in the site traffic statistics [8]
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[edit] History
The site was founded in May 2005 by University of Sheffield student, Paul Nikkel, his wife Jennifer Nikkel and his friend.[7][8] Although Paul Nikkel claims to have had no previous commercial experience[7] he is heavily involved in the running of UK deal site HotUKDeals.
The original site was revamped later that year with a different look and new features. Over the next year the minimum rebate level of £20 was abolished and a number of other additions were made including a blog (Quidblog) and the option to be paid by BACS rather than PayPal.
[edit] The Quidco co-operative cashback model
Historically, the trend in Cashback Websites is to take 50% commission and not charge a membership fee.[citation needed] Quidco, instead take no commission and give 100% cashback. An annual charge of five pounds for each member allows the business to remain financially viable. The charge is held back from the earnings, so if a member only earns £3.40 in a year, the charge is £3.40.
Referral incentives to members who sign up new members are not offered. Quidco claims this is because referral bonuses encourage spam as unscrupulous users try to increase their referral earnings.[9],
[edit] Tracking
Purchases are tracked through various affiliate networks such as Tradedoubler, AffiliateFuture and Commission Junction. Tracking is possible by the use of HTTP cookies.
[edit] Payment
Quidco offers redemption of cashback via paypal or BACS. Although Paypal is only sent on balances below £50.00, meaning the only alternative would be BACS.
[edit] References
- ^ Lewis, Martin (2005-10-08), “Quidco, the choice for cashback kings”, The Guardian
- ^ The five best new ideas for a modern money map [1]
- ^ Cashback Websites Lure Shoppers [2]
- ^ Cash in on cashback [3]
- ^ How to save 30 per cent on your online shopping [4]
- ^ Consumer: Internet Cashback - Dominic Littlewood[5]
- ^ a b Manual, R. "Can you really get cash back for everything you spend online?"
- ^ Holiday Shoppers Head off High Street to Co-operative Website
- ^ The Quidco Story[6]
