So today i saw the papers, 1st page ad. from Paytm which was offering upto 100% cashback on transactions, then i turned the page over to see an ad. by Freecharge offering FLAT 100% cashback across lacks of stores. This made me read the headlines 2 times. Now ofcourse there has to be a catch to this madness.. right? Sure enough, there is.. at the bottom, barely readable text which stated that the maximum cashback will be Rs.100. Totally misleading.
Travel websites have been doing this for ages, giving 50-70% cashback on tickets, only to realise that the maximum amount never crossed few hundred rupees… and now, paytm, freecharge is doing the same thing.
Makes me wonder when these companies say that they have millions users, how many of them are actually active users and not just a one time signup who thought they were getting a deal of a lifetime and ended up with Rs.5 as cashback. 😛