Brazil’s C6 Bank Reveals that Cashback Is Used by Many Clients Accumulating Points

Brazil’s C6 Bank notes that the purchase of airline tickets has always been one of the main destinations given to the points accumulated by customers registered in bank and credit card loyalty programs.

But other ways of using these miles are “starting to become popular.” A C6 Bank/Ipec survey with Brazilians “from classes A and B with internet access showed that 28% participate in some miles program and that 35% of them exchange these points for cashback.”

With cashback, a term that means refund, “those who accumulate miles can recover part of the amount spent on their credit card in the form of money and use it as they wish.”

The practice is “higher among the public aged between 16 and 24 (53%).”

Maxnaun Gutierrez, head of CRM, products and individuals at C6 Bank, said:

“Loyalty programs are increasingly robust, allowing the exchange of points for immediate financial advantages, such as cashback, which makes the accumulation of points even more attractive.”

Among the richest Brazilians, 8 out of 10 people “have an account in a digital institution
Half of the richest Brazilians do not invest,” reveals the C6 Bank/Ipec survey.

In addition to expanding the opportunities for using points, cashback can be “responsible for generating extra income, as well as selling miles.” According to the survey, 20% of respondents who participate in points programs “are in the habit of selling their miles.”

Although cashback and the sale of miles have become popular among Brazilians, “the biggest destination given to loyalty program points is the exchange for products (49%).”

This use is “higher among women (54%) than among men (46%).” The purchase of airline tickets with points “appeared in 47% of the responses, a percentage that is higher among residents of capital cities (55%).”

The C6 Bank/Ipec survey was “carried out with 1,000 people from class A and B between August 29 and September 8.”

The margin of error is “plus or minus three percentage points.”

In another update, it was noted that Acqua, the first biodegradable card in Brazil, is already the “most requested among the six options available at C6 Yellow, the C6 Bank account aimed at under 18s.”

The option “debuted for this segment three months ago and accounts for 25% of new issues, four times more than in the adult base.”

Acqua reportedly “has 80% of its composition of PLA ( polylactic acid), a compound produced from corn starch.” It takes six months to two years “to complete its decomposition when disposed of under proper conditions.”

With the Yellow account, it is possible “to receive an allowance, send and receive Pix and carry out operations with a debit card — an incentive for financial education, which should start at home and from a very early age. Starting this month, the account also allows investments from R$ 10.”

Maxnaun Gutierrez, head of products and individuals at C6 Bank, said:

“In addition to financial education, Acqua plays an important role in the education of children. Sustainability is a central theme for Generation Z. And the popularity of the Acqua card in the C6 Yellow account reinforces this behavior”

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