About the cashback service LetyShops
LetyShops is the largest cashback service in Eastern Europe, founded in 2014 in Ukraine. It allows consumers to save on online shopping, awarding them cashback for every purchase made using the service. It also helps merchants to attract more shoppers.
Since its launch, the company has reached almost 29 million users and partnered with over 2700 stores worldwide, including major players like AliExpress, Shein, Asos and many more. LetyShops users have already made close to 160 million purchases with cashback.
In October 2018, LetyShops became Corefy's client. With us, the company started its rapid international expansion, entering the markets of Spain, Germany, Poland, India and Latin America. During four years of our collaboration, which ended in 2022, the service became available in more than 35 countries across the world.
How we helped LetyShops deal with payout workload
LetyShops doesn't award users with virtual points or bonuses. It pays out cashback in real money. The customer journey is the following: a user registers on the LetyShops website, chooses one of the partner stores from the list, gets redirected to its website, makes a purchase, and, in case there's no return in 30 days, receives a cashback that varies from store to store and can be as high as 30%. After being credited with cashback, a user can withdraw it using any of the multiple payout options LetyShops offers.
The payout workload is immense because the company has millions of users. After one of the fastest onboardings in Corefy history (it took LetyShops just two days from getting acquainted with the documentation to performing the first live transaction), LetyShops began successfully using our platform as one of the tools for paying out to thousands of users daily.
How LetyShops saved time, money and effort with Corefy
The particular value of our platform for LetyShops is linked to our proven payment expertise and the capacity to bring about plenty of integrations out of the box.
As the business grows in scale, the payment processes exponentially grow in complexity. Large businesses require multiple payment partners to equip themselves for international expansion and diversify risks. Every new integration with a payment service provider comes at a cost, as it involves significant development efforts to establish, maintain, and update the connection. Moreover, it takes lots of time and drains the resources that otherwise could be used for business development.
That's why LetyShops took a wise decision to leave the provider integration hassles to professionals. A single integration with Corefy made connecting new providers and payout methods a piece of cake for LetyShops. In addition to dozens of pre-established connectors, we added new integrations for the client upon request. We did the work that LetyShops could have been doing themselves for months much faster, ensuring the quality and providing support for every connection. Moreover, it ended up being notably cheaper for our client.
This way, the company was fully equipped with the payment capabilities needed for expansion to any market in the world. LetyShops used this benefit to the fullest, having entered Latin America while we took care of connecting local PSPs for them.
Corefy has developed payment solutions for more than fifteen years. It is how we've learned what works, what doesn't, and what helps our clients to reach the top. With this knowledge and experience, we are ready to guide you every step of the way with personalised support and consultancy. We provide a holistic payment infrastructure and tackle every technical issue related so that you don't have to. Feel free to get in touch to see our platform in action, share your pains and find the solution you've been looking for.