Tuesday, December 28, 2010

12/28 - Faisal Qureshi , Heather Cabot,

Faisal Qureshi CEO - OffermaticConsumers spend so much money over the holidays... wouldn't it be nice to get money back for the items you are buying and have it automatically credited back to your credit card? Well, now you can! Offermatic is often described as the “freak love child of Mint, Groupon and Blippy”. The service just launched last week and it’s already getting lots of attention. Here’s how it works: Offermatic revolves around getting good deals at local merchants and from national chains, but it isn’t just another deals site. Instead, you link up your credit or debit card to the service, which then automatically analyzes your purchases and offers you deals based on your shopping history. The fun part is you never have to print the coupon—the discount is automatically credited to your credit card as you purchase the discounted item. It’s a very interesting model, because it means that Offermatic can offer highly targeted deals based on the sort of things you are actually buying. Seeing a lot of movies lately? Offermatic might send you 50% off on tickets from Fandango. Just did some shopping at the Home Depot? They might send you a discount— or a competitor like Lowes can pay to send you an offer and try to nab a customer from a rival. Once you’ve signed up for the service, using it is pretty simple. Offermatic will periodically email you offers based on your recent transactions. If you spot one you like, you click a link, and your credit card will then have that offer automatically ‘loaded’ on top of it. Then, when you make a purchase at whatever merchant or brand made the offer, your discount will automatically be applied to the transaction. There’s still a very small amount of user effort involved (you have to click on the emails for the offers you’re interested in), but it’s pretty low friction. So far, the system has been working. Offermatic says that its tests show that top retailers are yielding a 14.5% conversion rate, which is far higher than usual.

Heather Cabot Web Life Editor - Yahoo
Michael Jackson took the top spot as Yahoo!'s #1 most searched subject last year,
but this year's top search may surprise you! Did Lady Gaga, Justin Beiber or Kim Kardashian captivate online searches? Or was America fascinated by a news story like the Chilean Mine Accident or the BP Oil Spill? Or did the iPad blow everything out of the water?

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